Questions tagged [mistakes]
The mistakes tag has no usage guidance.
62
questions
2
votes
2
answers
51
views
Distributed from wrong IRA account last year. Any way to correct?
We distributed $47k from wife's (age 52) regular IRA last year, 2021, to improve home.
Realize now we should have distributed from my (age 64) regular IRA instead.
Now we're paying penalty for early ...
- 676
4
votes
2
answers
164
views
Correcting Social Security Administration's record of my income
I'm preparing for retirement and I created an account with the Social Security office. I checked my earnings record, and for four years in the late 80's, they show me earning $0. I was a graduate ...
- 429
15
votes
3
answers
5k
views
How to account for human error?
Sometimes people make mistakes. The checkout process at stores often involves manual data entry which is error prone. For example, as a customer I could be charged $49.99 for a product priced $49.49.
...
- 448
2
votes
2
answers
674
views
Accidentally bought stock without cash to cover
I accidentally bought a stock in the wrong account. I don't have the money to cover it. Can I sell it same day to get out of it, or, what do I do?
My other account is TFSA so I don't want to transfer ...
- 21
1
vote
0
answers
50
views
Name variation on credit report in the UK, reason for concern?
I have three surnames, so my full legal name is generally written here (HMRC, DVLA, passport, pay slips) as:
Forename Surname#1 Surname#2 Surname#3
I pulled my credit report and my current account ...
- 111
1
vote
1
answer
72
views
Income Tax filing of Roth Info
I may have mis added the amount of 401 K I converted to a Roth account on my taxes. Will the IRS catch that? What will be the penalty?
0
votes
0
answers
323
views
Forgot to include form 1042-s
I am a student on a F-1 visa (nonresident alien), working with a Teaching Assist at my University. I did my 2019 taxes using Sprintax with the information from my form W-2 and I got a refund of $609 (...
1
vote
3
answers
2k
views
Mistakenly filed as Exempt from income tax witholdings for entire year 2019
I am a basic 30 year old filing Single, W2, healthy working individual. No dependents, no additional schedules, capital gains or losses other than Student Loan interest expense.
I started a new job ...
- 27
3
votes
2
answers
6k
views
Lowe's won't accept their store credit - any recourse?
At one point in the past I returned some items to Lowe's (big hardware & home goods box store in the US) without a receipt. So they gave me a card in place of cash which I can redeem there - and ...
- 800
0
votes
5
answers
5k
views
I’m getting a refund for a product that I did not return
I recently bought an item during Black Friday from Best Buy and I just received an email stating that the item I bought was returned and they’re going to give me a full refund. This must be a mistake ...
- 11
3
votes
1
answer
250
views
Erroneously used child's birth instead of loss of insurance as QLE, double paid insurance for same month
Quick backstory:
My wife is a teacher and we were getting our health/dental/vision from her work. When we got pregnant with our second child, we decided she wouldn't go back to work after the baby ...
- 193
4
votes
1
answer
765
views
How to deal with account scam and fraud?
I gave someone my account information for my bank account because they said they could help me financially. They put $820 in my account and said I could keep some if I sent it to this guy. I never ...
- 41
3
votes
0
answers
98
views
HCE Excess Refund on 401k Plan
This year, I received a letter from the company I worked for notifying me that they did not pass the 401k non discrimination test. As a highly-compensated employee, I received an excess refund check ...
- 31
4
votes
1
answer
252
views
RMD Penalty Waiver
We accidentally neglected to take the RMD from one of our two 403b retirement accounts. As soon as we realized this, we had an accountant help us fill out a 5329 form for each tax year. He advised us ...
- 1,718
1
vote
2
answers
422
views
Locked out of my IRA due to incorrect date of birth on account
I had a 401k plan with a company that I left several years ago and since went out of business and so their 401k plan was rolled over into a generic IRA plan.
I want to roll the IRA over into the 401k ...
- 111
6
votes
1
answer
435
views
Used an incorrect SWIFT code for transfer. Will money return or still go through?
I made an international transfer from my bank in Italy to the U.S. The recipient account number and routing number were correct including the address, but I mistakenly used the SWIFT code of the U.S. ...
- 61
0
votes
1
answer
216
views
My money transfer went to the wrong bank, what can I do to reverse it?
I have 2 different bank accounts with a bank and a credit union. A payment through seller was posted into the wrong account. What can I do to reverse the transaction?
0
votes
1
answer
211
views
IRA Rollover Past 60 Days Because of Bank Mistake
I took out a 60 day rollover for a Roth IRA.
About 50 days in I went into the bank and asked them to deposit the money back into the account.
The bank ended up depositing the funds into the wrong ...
- 305
3
votes
2
answers
177
views
Can you fix a rollover that went into a Roth IRA and put it into a regular IRA?
If someone, in the process of leaving a job last summer, rolled over their 401K into a Roth IRA and is now looking at a several thousand dollar tax bill, is there any way to salvage that by ...
- 2,602
2
votes
1
answer
125
views
Dealing with an incorrectly filed tax return
Situation
I had one company (in another state that I have used for years) file my taxes but when they had finished and sent us the results in the mail we noticed they had filed Married, filed jointly ...
- 123
0
votes
1
answer
294
views
Incorrect state on W-2 withholding
Working on TurboTax, and I notice that my W-2 shows my tax withholding for NC.
I moved twice last year with the same employer as I move to work with their client. But seems my tax withholding didn't ...
- 333
0
votes
1
answer
40
views
1098T left off 2017 return
I forgot to include a form 1098T to my daughters 2017 tax return, she did recieve a refund for income she had during that year, the 1098T was from her fall semester at Texas A&M where she is ...
- 1
2
votes
4
answers
1k
views
Former employer deposited money in my 401K by accident
Former employer put about $3K in my 401K after I had left the company for 1 year. A year later they discovered it and are asking for the money back. Do I legally owe this to them?
- 21
3
votes
1
answer
173
views
US taxes small mistake that doesn’t change tax or refund
Last week I filed my tax return.
For the child care credit, I wrote I spent X dollars. I redid the calculations, and turns out I spent X+6 dollars. This obviously can’t make me owe more taxes and ...
- 33
8
votes
1
answer
268
views
Mistaken identity error (I am dead) - property tax issue [closed]
I purchased my home in Florida, Palm Beach county, in 2005 and I received my homestead exemption. Last week I was checking something on the Palm Beach Property Appraiser website and to my surprise I ...
- 113
2
votes
2
answers
142
views
Correcting a post-tax HSA deposit?
Due to a payroll error at work, my HSA contribution got put in twice for the first pay week. Once pre-tax and once post-tax. The extra total amount being in there is fine as it won't cause any limit ...
- 173
0
votes
1
answer
168
views
Contributed to my Roth IRA when I wasn't eligible to
I put $5,500 in my Roth, and learned that I'm not eligible to (I make too much money). What's going to happen to me, come the time of reckoning (tax time), and what can I do about this before then?
1
vote
1
answer
143
views
2017 IRA Contribution Mischaracterized as Roth
In April, I mistakenly deposited my wife's 2017 IRA contribution to her Roth IRA, rather than to her Traditional IRA. This happened as follows: I called my broker and told his associate that I wanted ...
- 11
4
votes
1
answer
1k
views
Is there a way to undo 401k contributions?
I made a mistake... To give some context: for the first 3 months of 2018 I was working in Texas at a company that matched the first 4% 401k contribution. I had been looking for a different job and ...
- 143
2
votes
1
answer
469
views
HSA erroneous deposit and withdrawal by employer
My employer erroneously deducted $1083 from my after tax paycheck and deposited it into my HSA account. When I brought it to my employer's attention they reversed the transaction deducting the $1083 ...
- 21
5
votes
1
answer
2k
views
Accidentally selected tax exempt on W4
I started working in February 20, 2017 and had an online W4 to fill out and I accidentally selected tax exempt. I am in the 28% tax bracket and live in Washington state. Upon realizing my mistake I ...
- 53
1
vote
1
answer
342
views
Where am I miscounting this money?
I run a sports club where I accept payments via three methods: in cash, via a PayPal card reader and online via my website.
I'd been keeping track of the attendees and how much they paid in a ...
- 372
4
votes
1
answer
713
views
Credit card payment cashed but not credited to my account
So my credit card company cashed my payment check on 12/8, still hadn't posted to my credit card on 12/15 So I called customer service. Sent them a copy of the cancelled/cashed check proving they ...
- 41
24
votes
3
answers
10k
views
Health insurance coverage canceled due to mistake. Can it be corrected?
My medical insurance coverage through my spouse's employer was terminated because my spouse mistakenly checked the wrong box during the annual open enrollment.
I've been on my husband's insurance ...
- 241
4
votes
1
answer
586
views
Can my former employer reimburse my FSA expense due to their error?
Ok, so this is a bit convoluted. To be clear, this is not a "use it or lose it" question, nor is it a question of overspending contributed amounts before leaving (I'm well aware of how all that works)....
- 143
4
votes
1
answer
6k
views
How do I reconcile income taxes withheld and remitted to the wrong state?
I work remotely from my home office in Atlanta, GA for a NYC-based company. I started at this company in 2016 and I just received my first W-2 form. My company uses Just Works as a professional ...
- 5,310
6
votes
5
answers
728
views
My university has tranfered me money by mistake, and wants me to transfer it back
I am a PhD student.
I have a scholarship, which pays out a stipend each fortnight -- it is not employment.
Sometimes the university might transfer me money as reimbursement.
Sometimes, separately to ...
4
votes
2
answers
330
views
401k mistaken rollover into cash account
I've recently discovered that E-trade rolled over my 401k into a cash account, instead of a IRA account, as I intended. The rollover happened one year ago.
The 401k administrator sent me a tax ...
- 41
5
votes
2
answers
3k
views
Catching up on 8606 forms for non-deductible IRA contributions
My fiance made non-deductible IRA contributions from 2005-2013. I know that form 8606 was not filed going back at least several years and I suspect it was never filed. I'd like to file the 8606 ...
- 7,506
3
votes
2
answers
316
views
IRS sent incorrect tax refund. How to correct this?
I sold a house in the US last year and as a non-resident alien there was a federal tax withholding of $4200. I filed form NR1040 to get this tax withholding back. This should have been a simple ...
1
vote
0
answers
42
views
I contributed to an HSA in 2014 that was supposed to be for the previous year, but wasn't
When I contributed to my HSA in 2014, it was supposed to be for the year 2013. This wasn't done. Can I correct this?
Thanks,
- 11
3
votes
1
answer
1k
views
Error in my car loan papers, what do I do?
In Dec 2014 I turned in a financed car that I had where my mom was the Primary Owner and I was the cosigner and I purchased a new car only under my name and credit, my mother wasn't present and she ...
- 41
5
votes
1
answer
4k
views
TurboTax Made an Error - Should They Pay?
I used TurboTax to file my college-age daughter's 2012 tax return. TT said she was eligible for a $1,000 American Opportunity Credit. We claimed it and got no argument from the IRS.
I used TT again ...
- 221
4
votes
1
answer
8k
views
Loan servicing company sent me a check in error and wants it back
I was in the process of refinancing my home with RanLife. Shortly after the refinance went through my loan was sold to Chase bank. I received a check from the loan servicing company LoanCare for ...
- 143
3
votes
1
answer
439
views
Are HMRC (UK tax inspectors) required to give specific notice of late filing penalties?
I'm in a difficult position with respect to HMRC.
My story: just before the deadline for submitting an income tax return for the tax year 2013-2014, this January (2015) I got a letter from HMRC ...
- 251
2
votes
1
answer
211
views
How to deal with IRA excess contribution without withdrawal, penalties, and fees?
I made my traditional IRA contribution for the 2013 tax year in April of 2014. I made my contribution for the 2014 tax year in April of 2015 and shortly thereafter received a notice from Principal ...
- 21
1
vote
0
answers
92
views
Undo IRA conversion to an existing Roth IRA?
I have two retirement accounts at the same brokerage. One is a traditional IRA that was rolled over from a past company 401k plan, the second is a Roth IRA that I contribute to with taxable income.
I ...
- 111
2
votes
2
answers
354
views
Why am I not entitled to keep the money given to me by the Government in error? [closed]
unemployment insurance made a mistake by giving me money that I wasn't entitled in the first place and I didn't know till recently they with held my state tax, I went to department of labor in my city,...
- 21
3
votes
1
answer
355
views
Multi-year delayed 401k payout check cash, which was originally a rollover into a new plan
Here's the chain of events, not all of which I was aware of before this week:
In 2010, I started working for a company and diverting money into a 401k
In 2012, the company was purchased, and I ...
- 131
1
vote
1
answer
4k
views
Does the CRA charge any penalty if you file a wrong tax return?
If you misreport a number on your tax return, will the CRA just charge you the extra money that you owe them? Or will they actually 'punish' you by charging hefty fines and penalty , and slap charges ...
- 15.9k