I have a $1000 charge in my online banking labeled AUSPC JPMC PAYMENT 2047. When I look it up it suggests that it is affiliated with Paypal however there is no paypal transaction for that amount. Can anyone help me?
I had the same thing just appear on my monthly bank statement instead of the check that I sent to the IRS for a quarterly estimated tax payment. After some searching I discovered that estimated tax payments sent to the IRS office in Charlotte, NC are processed for the IRS in a "Lockbox" account administered by JP Morgan Chase (JPMC). It has nothing to do with PayPal.
I just paid my company's 2020 income tax, sent a large check with voucher in envelope provided by my CPA and noticed today the exact same wording on my bank statement- apparently converted to an ACH transaction. My CPA said JPMC stands for JPMorgan Chase. She said a certain US Treasury address is putting payments into a lock box with JP Morgan Chase. So I'm breathing a little easier!
Same thing happened with us. The JPMC is a lock box account for the IRS for payments sent to the Charlotte office. We also sent a physical check for another back payment for 2020 (the above stuff was a2021 estimated tax) in the beginning of August, 2 days after receiving the IRS notice. The IRS cashed the check on Aug 13 but then 3 weeks later just sent another late notice for the original payment that we already made plus additional interest for another month. The IRS is WAY BEHIND in processing and correlating your payments with your account (even after cashing your check it doesn't get credited in real time).....ugh!!!!
