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    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
    		  
    #1

    Feb 14, 2019, 08:22 AM
    Refund Check
    IRS mistakenly (Hypothetical) gave a man one million
    Refund. He notified the IRS promptly. It took some time.
    To correct it. Question is does he get to keep the bank interest
    While he was awaiting instructions
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 14, 2019, 09:18 AM
    For much smaller amounts, the IRS will not mind you keeping the interest.

    For a $1 million, they may ask for it.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #3

    Feb 14, 2019, 11:33 AM
    Thank you. I just wondered
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 14, 2019, 12:45 PM
    Glad to help!
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #5

    Feb 17, 2019, 06:02 AM
    I wonder if you’re thinking about the case of the man in FL who filed a tax return claiming $17,000 in wages and $1 million in tax withholding, netting him a (fraudulent) refund check of $980,000?

    https://www.nytimes.com/2019/02/16/u...und-check.html
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #6

    Feb 17, 2019, 07:55 AM
    Similar but different in total
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