A government depositing a check from a taxpayer drawn on the same
bank will receive same-day credit for the check, assuming that it is deposited
before the bank’s cutoff time. For example, if the check is deposited by noon
and the bank’s cutoff time is 2:00 p.m., the government will receive sameday
credit. If that check is deposited at 3:00 p.m., the government will receive
next-day credit. Checks drawn on the same bank where they are being
deposited are referred to as “on-us” checks.