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33 votes

How to account for human error?

Does it matter? In this case you were charged $49.99. Your card record shows $49.99. Your account entries show $49.99. You really did pay $49.99 in expenses, so "expenses" should show $49.99....
DJClayworth's user avatar
  • 33.6k
23 votes

Health insurance coverage canceled due to mistake. Can it be corrected?

HR told us nothing could be done to correct it. Is this true? Probably not. I think it helps that only 11 days (now 12) has passed since coverage ended. It's possible the (incorrect) premium hasn't ...
TTT's user avatar
  • 47.2k
15 votes
Accepted

How to account for human error?

I created an Errors account that can be used to absorb the remainders of transactions. 2021-09-07 * Store Expenses $ 49.49 Credit Card $ -49.99 Errors Any remainder will be ...
Matheus Moreira's user avatar
10 votes

Lowe's won't accept their store credit - any recourse?

This seems like it should be an easy fix. If the license doesn't match due to a typing error, then presumably most of the information would be correct, or close to correct, so viewing what they have ...
TTT's user avatar
  • 47.2k
10 votes
Accepted

Correcting Social Security Administration's record of my income

It is entirely possible that you had no FICA taxes withheld while you were a graduate student on stipend. There is a Student Exception to the FICA tax that may have applied to you. Your 1040 tax ...
Ben Miller's user avatar
  • 116k
9 votes

My money transfer went to the wrong bank, what can I do to reverse it?

I gather from your question that you have 2 bank accounts, and your agent (seller who sells assets you owned) posted the proceeds to the wrong bank account, but it’s still your bank account that the ...
Lawrence's user avatar
  • 9,392
9 votes

Locked out of my IRA due to incorrect date of birth on account

The Problem You obviously have a legal right to control over the IRA. However, in deciding how to get to a position whereby you can reassert that control, it will help to consider things from their ...
TripeHound's user avatar
  • 9,170
9 votes

How to deal with account scam and fraud?

You are in trouble, but possibly not too much if you act properly now. First change any passwords that you gave out. Do it now. Don't read to the end of the answer do it now. Then call your bank, on ...
DJClayworth's user avatar
  • 33.6k
7 votes

Health insurance coverage canceled due to mistake. Can it be corrected?

Unfortunately, the HR department is probably correct here. This is related to IRS Section 125 rules. Once you have finalized the enrollment, you cannot change it unless you have a 'qualifying event'. ...
JimmyJames's user avatar
  • 3,878
7 votes

I accidentally sold all of my Bitcoin with a limit order because I had never done one before

If the cost basis was $52,000 a coin and you sold it for $70,000 a coin that means your tax agency will be expecting you to pay taxes on the $18,000 a coin in gains. You will have to check the ...
mhoran_psprep's user avatar
6 votes

401k mistaken rollover into cash account

Here's the detailed section of IRS Pub 590 It looks like you intended to have a "trustee to trustee conversion", but the receiving trustee dropped their ball. The bad news is, a "rollover ...
user662852's user avatar
  • 8,389
6 votes

My university has tranfered me money by mistake, and wants me to transfer it back

If you are convinced/sure its legit. Is doing a bank transfer to correct their mistake, actually the right way to do it in the first place? Best is to write to University and ask if this extra ...
Dheer's user avatar
  • 57.1k
6 votes

Health insurance coverage canceled due to mistake. Can it be corrected?

This web page and comment by G&R Partners (a firm that provides payroll and benefits services to other companies, I'm not endorsing them, I found them in a web search) suggests that while an ...
Johnny's user avatar
  • 180
6 votes
Accepted

US taxes small mistake that doesn’t change tax or refund

Is this the kind of thing to send an amended tax return over? No. If the error didn't result in more credit, it's because you've already gotten the maximum credit/benefit available to you. The IRS ...
Hart CO's user avatar
  • 70.5k
6 votes
Accepted

Erroneously used child's birth instead of loss of insurance as QLE, double paid insurance for same month

Note: I initially assumed that you were seeking a refund from your old insurance company, and my original answer is shown first. Below that, I have added a new section to address the clarification ...
Ben Miller's user avatar
  • 116k
6 votes

I’m getting a refund for a product that I did not return

Any advice? First check that the email definitely is from Best Buy and is not a generic scam/phishing email. For instance, does the email actually mention by name the product you bought (and that ...
TripeHound's user avatar
  • 9,170
6 votes

Distributed from wrong IRA account last year. Any way to correct?

Any way to reverse this? Maybe distribute $47k from mine and rollover into hers, and ask IRS to forgive? No, The "I" in IRA stands for Individual. Your IRA and your spouse's IRA are not ...
littleadv's user avatar
  • 177k
5 votes
Accepted

Mistaken identity error (I am dead) - property tax issue

In FL, you get a letter every year from the property tax man, which lists your applied exemptions and taxes, and it also lists a deadline for any changes. From what you wrote, it looks like you ...
Aganju's user avatar
  • 37.7k
5 votes
Accepted

Accidentally selected tax exempt on W4

There's nothing your company can do to fix this. You have to pay the tax due directly to the IRS. If you had little or no income for the previous year, 2016 (and thus little or no total tax), then ...
prl's user avatar
  • 2,817
5 votes

Mistakenly filed as Exempt from income tax witholdings for entire year 2019

First, let me clear up a misunderstanding in your question. Is there a way to check with the IRS to see if they indeed receive my file as Exempt and if they did actually return it to my Employer? ...
Ben Miller's user avatar
  • 116k
4 votes

My university has tranfered me money by mistake, and wants me to transfer it back

Confirming whether the payment was an error The simplest method is to confirm manually with the University whether the payment was a mistake and satisfy that between yourselves. If you're concerned ...
Turgs's user avatar
  • 286
4 votes
Accepted

Can my former employer reimburse my FSA expense due to their error?

This is an unfortunate situation for you. You have zero chance at your question number 1, if someone was going to bend this rule for you it would have happened already. The answer to question number ...
quid's user avatar
  • 49k
4 votes

Former employer deposited money in my 401K by accident

Option 1: Contact the company and inform them that, due to their mistake, you will need to consult with a professional (accountant, tax attorney, whatever) in order to resolve it. This professional ...
brhans's user avatar
  • 1,620
4 votes
Accepted

RMD Penalty Waiver

You need to obey whatever your accountant gave you for written advice. If you lost it, ask him for a copy of it. Why? When you retain a tax professional, and seek and follow her advice, then any ...
Harper - Reinstate Monica's user avatar
4 votes

Lowe's won't accept their store credit - any recourse?

I agree with the answer here that this is likely something that can be fixed if you're willing to push a little bit. Still, there might be an even easier way: just purchase something from Lowes online ...
Daniel's user avatar
  • 5,330
4 votes

Accidentally bought stock without cash to cover

Selling the stock today might make the problem worse. It might result in a good faith violation, freeriding violation or cash liquidation violation, which might result in a temporary restriction being ...
Tanner Swett's user avatar
  • 3,437
3 votes
Accepted

Correcting a post-tax HSA deposit?

When you contribute money "pre-tax" into your HSA from your paycheck, you avoid payroll tax (FICA) on it. When it comes to tax time next year, that amount is not included on your W-2 box 1 amount, so ...
Ben Miller's user avatar
  • 116k
3 votes
Accepted

Can you fix a rollover that went into a Roth IRA and put it into a regular IRA?

This used to be possible before 2018, but is no longer possible. Basically, you did a conversion from Traditional 401k to Roth IRA, and one of the several types of "recharacterization" could be used ...
user102008's user avatar
  • 17.3k
3 votes

I’m getting a refund for a product that I did not return

Perhaps the mistake will be caught before they actually refund the money. But if it isn't, and they refund it (presumably to a credit or debit card), I don't think you would "get in trouble" since ...
TTT's user avatar
  • 47.2k

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