IRS Errors Considered
In reading IRS Error in Your Favor on Five Cent Nickle, I realized that this situation would really throw me for a loop. But, reading the comments gave me some insight at which direction I’d choose to pursue.
I’m a stickler for doing the right thing and am pretty sure that I would make the initial call. However, perhaps my morals are not quite high enough because I’d probably not push the issue if they insisted it was correct. Regardless, I would certainly put the excess funds in the bank and just leave it there. It could be drawing interest for me and if anyone comes to call, it is there and waiting to be handed back. Plus, I’m sure there’d be some sort of statue of limitations that would allow me to eventually make it mine, all mine.
But wow, getting a $25k return when only expecting $5K….