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I got an overtax refund in the mail. I owed $200 in taxes because I had a job that didn't take taxes out. I got $18 back. I just got this in the mail and I don't know why. I'm very excited about it, I can actually pay the bills this month lol, but is it mine to keep ?

On the front of the envelope it says "official business. penalty for private use $300" And on the back it says "office of investor education and advocacy" And talks about investing money. So is this my money, I can pay bills with it, or no? Do I have to invest it ? It's only $700 (which is awesome) but I don't know what I'm supposed to or allowed to do with it ?

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Anonymous

Asked by Anonymous at 12:56 PM on Apr. 27, 2010 in Money & Work

Answers (10)
  • Wait, so is it $18 or $700? I'm lost.
    Anonymous

    Answer by Anonymous at 1:00 PM on Apr. 27, 2010

  • O.P. - When I did my taxes they said I owed $200 and was getting $18 back. I got the $18 back a week or so ago, and today got $700 in the mail saying "overtax refund."
    Anonymous

    Answer by Anonymous at 1:03 PM on Apr. 27, 2010

  • Were you supposed top get $18 and instead got $700??


    If I were you I would call the IRS right away! You may very well be able to cash and keep it (if it is not an error on the IRS's part) If it IS an error and you cash it.... you could be facing a HUGE mesh that you do NOT want to deal with!! Really!! If you are not due that money, it is better to just hand it back over to them now.

    VeronicaLee

    Answer by VeronicaLee at 1:05 PM on Apr. 27, 2010

  • Anybody can print that "official use" thing on an envelope. It doesn't mean much. I've never heard of the "office of investor education and advocacy"....I would surely call the IRS & find out if it came from them first before cashing it. If its a bogus check, you will be held responsible for it at your bank.
    lisa89j

    Answer by lisa89j at 1:05 PM on Apr. 27, 2010

  • O.P. - When I did my taxes they said I owed $200 and was getting $18 back. I got the $18 back a week or so ago, and today got $700 in the mail saying "overtax refund."

    Sounds like this might actually be your money.... BUT, I would still call to check!!
    VeronicaLee

    Answer by VeronicaLee at 1:06 PM on Apr. 27, 2010

  • http://www.sec.gov/investor.shtml
    VeronicaLee

    Answer by VeronicaLee at 1:09 PM on Apr. 27, 2010

  • I looked it up & it said: The SEC’s Office of Investor Education and Advocacy provides a variety of services and tools to address the problems and questions you may face as an investor. We cannot tell you what investments to make, but we can help you to invest wisely and avoid fraud.

    I am not certain why they would send you a check though...hmmm...yeah I say call somebody & make sure..them or the IRS. And I would look up a number for this place not just call any number listed on what you received.
    lisa89j

    Answer by lisa89j at 1:10 PM on Apr. 27, 2010

  • And I would look up a number for this place not just call any number listed on what you received.

    I second that!!
    VeronicaLee

    Answer by VeronicaLee at 1:14 PM on Apr. 27, 2010

  • Thank you all for your answers. I just called the IRS and asked and they said that it was my tax return money!!!
    Anonymous

    Answer by Anonymous at 1:56 PM on Apr. 27, 2010

  • I think the Government is trying to promote savings and education. It doesn't mean you have to save or use it for education, it's just the Government trying to "mother" our nation.
    Ha.

    Congrats on the tax return.
    Anonymous

    Answer by Anonymous at 2:03 PM on Apr. 27, 2010

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