Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next
Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: IRS sent refund now they want it back?? Date: 8/30/2001 2:12 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
What should I do in a case like this? I'm thinking of calling them and saying "Look, it's not my fault you messed up ... I don't have much extra money but I can pay you $100 a month..." or something like that. Will that work? I'm going to go over all of this with my accountant but it looks like they just totally screwed up. AND now they are trying to say that I owe penalties and interest too!

Step one is to figure out what you're dealing with. There are two types of erroneous refunds: assessable and unassessable. Unassessable erroneous refunds can only be involuntarily collected by suit initiated within 2 years of the refund. Assessable ones can be collected in the same manner as tax. You are in a much stronger position if it's unassessable, given the difficulties of bringing suit.

Clear this up first with your accountant. If (s)he doesn't know what you're talking about, find someone who does. I'd suggest a search at www.naea.org for some leads.

Phil Marti
Retired IRS Collection officer
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement