Ask Experts Questions for FREE Help !
Ask
    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: 21,778, 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
    Ultra Member
     
    #3

    Feb 14, 2019, 11:33 AM
    Thank you. I just wondered
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,778, Reputation: 846
    Senior Tax Expert
     
    #4

    Feb 14, 2019, 12:45 PM
    Glad to help!
    ebaines's Avatar
    ebaines Posts: 12,132, 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
    Ultra Member
     
    #6

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

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

What does brkhavntax mean on a refund check? [ 1 Answers ]

On a refund check it says oston brkhavntax refund trying to find out what it menans

Will I get a refund check in the mail ? [ 1 Answers ]

When I filed my taxes electronically it says that they will deposit my check in my checking account but something happened it didn't let me enter my account number. So I wonder if there's no checking account number there will they send me a check by mail

Is my refund check the same as my taxes? [ 3 Answers ]

Ok I filed for my taxes and waited for them, I got a notice in the mail saying since I moved out of state they needed documentaion so I could get my money. Well I sent it out and a day later I got a refund check in the mail and I was curious if it was the same thing, and if it is I'm confused as to...

Government tax refund check [ 2 Answers ]

Im wondering if everybody that filed 2007 taxes is eligible to get the $600 check from the Government

Tax Refund Check [ 3 Answers ]

I noticed something on my federal tax refund check. Printed right under my name, it reads: 5.85 interest. I don't recall having ever seen this before but maybe it was there and I never noticed it before. Anyone have any idea what that means?


View more questions Search