IRS Question

[ted]

I just got greetings from the IRS... saying I overpaid my 2001 taxes and they owe me $1500. I really don't think they are correct, but my inclination is to just agree; I can certainly use the money right now. Thr money in dispute goes back to my W2-there was 2 companies I worked for that year and overwitholding of the SS tax; but I'm sure the second company issued a revised W2 and refunded the overpayment directly to me. I filed the revised W2 with my taxes, but they apparently have the original from the company. The question is, if I'm right and I didn't overpay can they reverse themselves in a year or so and say pay up.

[woodlawn]

>I filed the revised W2 with my taxes, but they apparently

>have the original from the company. The question is, if I'm

>right and I didn't overpay can they reverse themselves in a

>year or so and say pay up.

 

Answer: Yes.

[OneFinger]

Are you sure you were contacted by the IRS? My local TV news recently had an article about a scam by a company that "appears" to be the IRS offering a refund.

 

Of course, they ask that you provide them with your bank account number so they can deposit the check. In actuality, they use the information you provide to drain your account.

 

IF you really are talking to the IRS, I'm not sure if they can take it back later.

 

I suggest you proceed with caution.

[woodlawn]

It's easy enough to verify that any communication you receive comes from IRS. The notice you receive should contain a case number. Just call IRS, give them the case number verify what the notice says.

[+ Hoover42]

They can, and will reverse their decision if they discover the corrected W2 form in the future.

 

Even though you can use the money now, unless you're desperate and can afford to repay the amount with interest and possible penalties, I would notify them of them of the revised W2 form now and try to stop the refund.

 

The voice of experience...Hoover