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The IRS says it owes me more money back
Old 04-05-2013, 09:30 PM   #1
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The IRS says it owes me more money back

I just had to share this one - apparently I miscalculated my estimated tax for this year (or turbotax didn't have what I really sent in) and my refund is much higher than I expected. So the letter from the IRS says. Now THAT'S the kind of letter I like to get from them!

And next year... I owe them nothing. Oh darn.


Retired July 2, 2010 at 62. My only regret is that I couldn't do it sooner.
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Old 04-05-2013, 09:32 PM   #2
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Sounds like a scam. But a good kind of scam...

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In dire need of: faster horses, younger woman, older whiskey, more money.
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Old 04-05-2013, 09:34 PM   #3
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Best to double-check everything.
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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Old 04-06-2013, 04:56 AM   #4
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Originally Posted by mickeyd View Post
Sounds like a scam. But a good kind of scam...

But just in case be sure to check the return address.
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Old 04-06-2013, 05:10 AM   #5
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Do nothing and wait for the refund to be credited to your account on the expected date. Spend the windfall wisely, you lucky dog.
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Old 04-06-2013, 06:37 AM   #6
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Originally Posted by heeyy_joe View Post
Best to double-check everything.
+1 exactly what I was thinking
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
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Old 04-06-2013, 07:35 AM   #7
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Congrats, thinker, but +1,000,000 on double-checking everything.
Even call IRS prob resolution office to confirm.
Similar thing happened to good neighbor of ours & turned out to be variant of ID theft (promised IRS "refund" but it was just excuse to obtain sensitive financial info). Now going on 3 yrs & it still is not resolved.
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Old 04-06-2013, 07:39 AM   #8
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Also make sure you save that letter and that you can pay it back it if were an error. If it turns out this letter was a mistake and they come to you later saying you *did* owe that money, well, you'd still have to pay it back but this letter should be sufficient to avoid penalties.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 04-06-2013, 08:46 AM   #9
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My company once got a check back from the irs and after awhile we cashed it.....6 months later we got a letter saying we under paid by the same amount....had to pay it back with interest but no penalty.
You've got to ask yourself one question: Do I feel lucky? Well, do ya, punk?

Retired July '11 investments 60/40 in very low cost index and mutual funds, balance once a year at best.
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Old 04-06-2013, 10:04 AM   #10
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A few years ago, I received a check with a letter when I overpaid my state tax bill in April. I had failed to take a $20 tax credit I had barely qualified for and have not qualified for since (but I am now on the lookout for it and have programmed my homemade spreadsheet accordingly).

Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
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