Refund Over Payment Mistake.

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  • #4239377 Reply

    Sammy

    So just like everybody else Ive been waiting on my refund since 2/1.
    I had to ID verify and everything which I did last week and I got
    a DD date of 3/14.

    I was expecting a refund of 5k. Well this morning I checked
    my account and my deposit was there but for a little over 25k.

    It took me a few min of staring at the screen to comprehend
    what was going on.

    First thing I did was wait for the bank to open and go down there
    and withdraw all of it in cash.

    Now im wondering if the IRS will notice and if they do im guessing
    it will just have to come out of my future refunds, which im fine with
    because this cash will really help me out right now.

    Has this happend with others and what was the outcome.
    It would be easy for others to say just call them and send the rest back.

    But when ur a 22yo with a kid going paycheck to paycheck with bad credit anyways
    and you have 25k in cash sitting in front of you, Im sure you would do the same
    as I did.

    Any helpful advice would be great.

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Viewing 35 replies - 1 through 35 (of 35 total)
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  • #4239642 Reply

    PhickDiva

    @Rachel: RIGHT?!!! We’ve been waiting in the wings since January, can’t even get what’s rightfully owed to us, but then they can shell out thousands of dollars extra to randoms ON OUR DIME. That’s cute.

    But Sammy will be okay. When the IRS does catch up with her, she can always take the baby and go into hiding at the parents house, OR have them work out payment arrangements with the IRS on her behalf. That’s what the Generation Y’ers do these days. Act first, ask questions later. And when in doubt, have Mommy & Daddy clean up their mess. Because…why not?

    #4239635 Reply

    MKR

    If this really happened, I think that by now the IRS would have wind of it. In general, don’t believe everything you read … especially on the internet.

    #4239519 Reply

    Mystie

    Oh and let’s not forget you’ll also owe penalties, interest, and the legal fees ti the IRS and your bank for the levy court procedures. Go to the post office as soon as you can, get yourself 20 postal money orders for 1k each, and mail them to the IRS with a letter explaining the overpayment and a statement from your bank along with a copy of your return as soon as you can and send it certified mail, or get yourself a lawyer. If you’ve already blown 25 thousand dollars then Lord help you because no one else in this life will be able to.

    #4239516 Reply

    Mystie

    They absolutely CAN take 50% of your PRE TAX wages every paycheck (50% of what you make BEFORE paying taxes, insurance etc) and they will also levy your bank account for any and all funds deposited into it until the full amount owed is paid. That’s if you don’t go to prison first. Good luck with all that.

    #4239515 Reply

    Sincerelyjess
    @sincerelyjess

    Honestly I probably would of kept the money but the best advice would be to talk to the bank

    #4239484 Reply

    GiveMeMyDamnMoney
    @givememydamnmoney

    What does your WMR show? It could be that the mistake was made by the bank and not the IRS. Either way…someone is going to figure it out and you’ll have to pay it back. Keeping it and spending it will earn you a felony. That means your butt goes to prison and your kid/s get taken away. I advise you not to spend it.

    #4239461 Reply

    Rachel

    And isn’t it nice that the IRS is overpaying people 15k when we can’t even rightly get whats owed to us. Maddening

    #4239460 Reply

    Rachel

    Good luck getting any future tax refunds.

    #4239456 Reply

    321123

    If people go to jail for not paying the irs wtf makes you think it won’t result in criminal charges? You are STEALING!!! The money doesn’t belong to you it was an over payment! You know the money doesn’t belong to you yet took it anyway which is stealing! The IRS will OWN you if you don’t give that money back! You are so naive you are looking at every possible way to keep it, knowing dang well it’s IMPOSSIBLE! They are not going to go on your well they can just take my refunds and garnish me! They don’t go off you and what you want! If 500$ is a felony think what 20k would be??

    #4239453 Reply

    AnneRL

    Have fun with your “windfall” and have fun paying it back! LOL

    #4239452 Reply

    Rachel

    I wouldn’t take legal advice from a bunch of people here. Call a lawyer or a tax account if you want accurate info.

    #4239451 Reply

    Rachel

    Depends on how much you owe. Other places can garnish up to 60%

    #4239450 Reply

    Sammy

    i appreciate everyones advice, but i just wanted to know if it would
    result in criminal charges, from the other story linked it seems like
    that doesn’t seem to be the case.

    It seems more like a civil matter then
    a criminal one right?

    Also when the Irs garnish wages, what percentage can they legally
    take. I’m guessing they can’t just take 50% every pay period right?

    #4239443 Reply

    AnneRL

    As far as people joking about “making them wait” (the IRS), do people understand that they have us all over a barrel as far as holding our refunds.. but they can do what they want to get their money. Garnish wages, levy bank account, put you in JAIL for not giving it back. Don’t be silly and think that they won’t catch it and get it back.

    #4239440 Reply

    Jeannie

    “D” in “Dgirl” obviously stand for DUMB

    #4239437 Reply

    321123

    She’s lying you cannot pull 25k cash out of a bank without the bank notifying the IRS FIRST! FAKE NEWS here… nothing else to see

    #4239436 Reply

    Dgirl

    Just sit on it. That’s there dumb ass fault. We waited now they can wait.

    #4239433 Reply

    Jeannie

    And you can’t play the “its not my fault its theirs” game…because you kept it knowing it wasn’t owed to you. That is basically stealing. And you don’t steal from the IRS.

    #4239431 Reply

    Jeannie

    Don’t be stupid. This is the IRS you’re dealing with and THAT is a lot of money. Don’t even entertain keeping it. If they figured out I made an extra $1500 in 2015 that I didn’t report and took it all back in our last return….you better believe they will hunt down their 20k and come knocking on your door to get it.

    #4239430 Reply

    321123

    And have you ever thought you have BAD CREDIT because you seem to not make good decisions!?! Lol I feel for you keeping that money! It’s going to be years of HELL for you!

    #4239427 Reply

    Rachel

    As much fun as it would be to keep it…They will eventually figure it out and that is a lot of money to have to pay back. Who wants their wages garnished:-/ Would be tempting to keep it for sure though! I might sit on it for a while if I were you.

    #4239426 Reply

    321123

    Being young and dumb! Do you really want to be garnished the next 5 years? Don’t be a fool give the money back! One of the people not to play with is the IRS ! They are renlentless! You think they are just going to take your refunds for the next couple of years? Yea right ! They will garnish your wages and leave you pennies and you might end up going to jail! Smdh some people are just stupid!

    #4239424 Reply

    KellyJ

    I kind of thought you might be joking about keeping the money, but I’m seeing you are really looking at keeping it.

    The best thing you can do in this situation is contact the IRS immediately and let them know what happened. In fact, if you hold onto the money and the IRS discovers the error six months, or even a year later, they will actually not only expect you to return the full amount, but they will also ask for interest and in some cases penalties. That sounds completely unfair, but it happens more often than you might think. One couple ended up in a heated battle after the IRS refunded them too much money. Even though they attempted to return the money right away and were initially turned away by the IRS, eventually the agency came calling and tried to force them to pay interest. They fought the IRS for two years before the issue was finally resolved. The lesson here is to do whatever it takes to pay the money back ASAP if you know the IRS has made a mistake, even if they tell you everything is fine.

    Found here.
    http://cleanslatetax.com/blog/irs-refunds-much

    #4239423 Reply

    Sammy

    I understand they can garnish my wages and all,
    which i’m fine with bcuz i’m technically being given that money.

    Its like worst case they find out and garnish my wages and refunds
    basically like a paycheck advance

    or best case I never hear back from them and just
    cashed in a 20k lottery

    My only concern is can this result in criminal charges in
    any way even tho, it was there mistake and I didnt lie on
    my taxes or anything. and lets say was bad with my finances
    and spent all the money by the time they contact me (if they do)?

    #4239422 Reply

    MKR

    What would Walt or Jesse do?

    #4239419 Reply

    StrugglingSC

    @Kelly Damn right make them wait Tell them that you sent them a letter and waited on hold to talk to somebody for 3 hours.
    @Sammy girl you better give them people their money back lol Slowly though little bit by little bit…..

    #4239413 Reply

    Rachel

    OMG @kellyJ You are freaking hilarious! That was spot on!!

    #4239412 Reply

    michelle

    KellyJ

    That was great thank you for the smile!

    #4239410 Reply

    Stephanie

    @kellyj that was hilarious lmao

    #4239403 Reply

    KellyJ

    You know you can’t keep it. But here is what I would do.

    I’d pull the money out that you KNOW is yours. That would be the $5k.

    Put the $20k in a savings account and hold it there till the IRS contacts you. That way you are making money off of their money.

    When the IRS does call you (Oh, they will) Tell them that you sent them a letter, and not to call back till 21 days from there.

    When they call you back, tell them they are correct, and that you do owe them the 20k, but not to expect a refund for 5 to 6 weeks.

    After the 6 weeks, send them a letter to prove their Identity. This can be a copy of a bill and a/an ID. Also explain to them that this will delay their refund another 5 to 6weeks.

    After this time is up, mail them a partial $1000 to $2000 of their refund, and wait for them to call again.

    Once they call with concerns they didn’t get what was expected, agree with them and start the above process over again.

    Maybe they would have a small glance into our lives…

    Or you can mail them their money now and avoid going to jail…

    #4239399 Reply

    Rachel

    Yeah, they will eventually figure it out. I have heard of this happening. Just don’t spend it and pretend like the extra 20k isn’t even there…ha! You’ll just end up having to give it back if you spend it.

    #4239392 Reply

    newtocali

    That is f**king awesome I’m sure they will find a way to screw you later for it but I wouldve done the same thing just spend it wisely.

    #4239391 Reply

    michelle

    The IRS can garnish your wages, freeze bank accounts.

    #4239390 Reply

    Dgirl

    U know what I would keep it too the IRS is f×××ING all of us. That what they get.
    Make them wait like u did

    #4239389 Reply

    michelle

    You need to return the extra money they will go after you.

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