Amy
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It will not hurt your credit, they can not legally do anything since it's their mistake... They are required to ask but that is all they can do. |
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simsterboy
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unless you signed an agreement to repay in the event of an overpayment ask is about all they can do, also you are not liable to make good on a mistake that wasn't yours.
Refuse to pay both the overpayment and the IRS money.
They are likely to send a number of letters and may even threaten court proceedings but they will not persue you through court because they do not have a case.
They will use these tactics in the hope that you will give in and pay.
Statute of limitations on any debt is 6 years, that is why they are trying to recover it now. |
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brusselsprout
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Contact your CPA. They will know what you need to do. I don't see why you would be responsible for their mistake. |
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Rayi
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First of all even if you still had the money, why would you be paying a fee for their mistakes? The company made the mistake to give you the extra money while you were maybe unaware of the situation. But, they still have the right to ask for the money back, without you having to pay for the $200 penalty(considering you were unaware of the matter at the time you received the payment)and you should be able to pay this money according to your budget. You can get a lawyer, but there's a bigger chance that you will lose the case.
Hope this helps. |
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trdconsult
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This should not impact your credit, since it isn't a situation where you borrowed it in the first place.
As I am reading this, the mistake was theirs, not yours. They are required to "ask", but that is probably their only remedy.
This truly is beyond the scope of our ability to answer here, it will be subject to state and federal laws. You should consult an attorney if they ask again. |
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Bear
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not your mistake seek out legally advice on this but i don't think they do have the right to ask for it back now sense it over 5 year now and they don't have the right to ask for more then they gave you . |
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hillcr222
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It's the company's own fault. They can't expect you to still have that money almost 4 years later. They have no right to ask that. |
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Genuine Person!
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unfortunatley you will have to pay the overpayment back but the interest is not your responsibility. If you can prove that back in 2004 you were not made aware of this overpayment then it is not your fault the interest has accrued.
Also, you are entitled to pay back the overpayment ininstallments!
my ex firm did this with 400 quid and i now pay a fiver a month.there is no way I am allowing there mistake to affect my finances! |
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Soldier
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It seems to me that they are not expecting the money back. The fact they said they are required, makes it seem like they need that proof to recover the money through other sources, insurance or whatnot. Check with an attorney if you are really worried about it. |
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scarpatchi
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its there mistake dont pay them same thing happened to may dad few years back and he never payed them |
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lemondrop
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What you need to do is contact the IRS......http://www.irs.gov/help/article/0,,id=96730,00.html
It might take a while to find the right department, but I assure you there is someone there that is trained to help you answer your question. More than likely, even though it doesn't seem fair, you are going to have to pay it back. Yes it was there mistake, but the bottom line is you have the money (or had the money) and it should not have gone to you so legally you should be the one to have to pay it back...all of it. I know it doesn't seem right and even though you weren't aware of the problem it doesn't matter. But check with the IRS first and see what they say. Obviously your former employer was told this by the IRS since it's tax time and all they are probably noticing this problem.
It's the same thing as you hear on the radio. A bank teller puts a whole lot of money in someone's account by accident-that someone spends all of the money-they have to pay it back. |
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yeschef2003
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I would ask to speak to their lawyer. Ask the lawyer to send you the paperwork they received from the IRS. Then contact the IRS and ask for advice.
And then contact other former employees and see what they are doing about it.
Can't give legal advice on here, but something smells fishy. |
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Joanna S
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It's their mistake and it should be their loss. That's at least 3 years ago!!! Do not give them anything. |
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artfulmason
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Write back a letter saying sure you can pay it back but you'll require a processing fee of $1000 to cover legal expenses, processing and your time. |
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Mario M
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you will have to pay back the 600 they over paid you you should have done it the moment you noticed it but you didn't as for the extra 200 i don't think you should pay for that regradless of you paying taxes that was there mistake not yours i would try to get a lawyer for this one and good luck |
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bud68
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I would shoot a letter right back at them asking them to cite the specific legal basis on which you are REQUIRED to repay the amount (not the basis for them being "required to ask"). |
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kt
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talk to a laywer... i think they have a certian amount of days they can ask for the money back but i think that it is only a year or so... a lawyer would know. |
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painted.lady
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Give absolutely nothing. |
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Merryberry
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I would consult a lawyer. I'd like to say you shouldn't have to pay it back b/c it was their mistake, but it is possible you still may be responsible for it. My husband was once given too much in check change while he was in college. He cashed the check and throughout the semester spent the cash. Before the semester was over, they got in touch with him about the mistake and he was forced to pay it all back. Crappy situation, but sometimes it seems like we have to pay for the mistakes of others. |
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beachcomber
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If it was their fault and you had no way of knowing you were overpaid, you could try and fight it. Bottom line, it wasn't your money, you may need to pay it back; however, I would contact Legal Aid and see if they can assist. You can also talk to a CPA. A little bit of money you pay to them may save you a lot of money in the end. Good luck! |
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Jimmymac
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Call thr IRS and get the correct information. I,m Not sure about the principal amount but certainly the penalties and interest are not your responsibility. If you have receipts for interast and penalty already paid, I don,t see where your liable for anything.If there was an overpayment you may have to pay that back,in installments, but none of this should impact your credit rating. |
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firstythirsty
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Was it a certified letter that you recieved? If not, you never heard anything about it as far as I'm concerned. |
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Adam
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You could just tell them no. Their letter stated that they are "required to ask". Sounds like they need the money but realize they screwed up and can't hold you responsible unless you really want to give the money back. Plus if you absolutely have to pay the money back you should not be responsible for the penalities. That was their screw up not yours. : ) |
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foxinsox
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Contact whomever you had do your 2004 taxes.
If you did them yourself..contact the irs.
and a lawyer if need be. |
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jimmymae2000
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Just write them a letter stating: "I cashed this money in and paid taxes and penalties on it already and it's long gone" and you are sorry but they will have to pay for their own mistake. |
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Walmartpimp
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Send them a letter that says no, and demand for more money.
But seriously I would call the Better Business Bureau. |
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Fubu
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Dont get tripped out man, gain your composure and lift your head high. He or she might up to something bad |
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