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Re: (1) I'm genuinely not sure how that would work. I suspect if you claimed you received it in error and sent it back, that would probably not incur an actual
by arcticbull 5y ago
Re: (1) I'm genuinely not sure how that would work. I suspect if you claimed you received it in error and sent it back, that would probably not incur an actual tax obligation. Not sure though, that's the kind of thing I'd want to run by a tax attorney if it was a non trivial quantity.
Re: (2) definitely, which makes the threat a lot stranger.
- tehlike 5y agoThis is not that different from a bank error where they deposit few million dollars and take it back It is not income if it's error and you return it.
- arcticbull 5y agoSounds reasonable. Not sure how or if I'd report it in that situation, though.