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Am i liable for money that mistakenly deposited into my account by turbo tax that was intended for someone else?

Business 2 views 3 answers
Money deposited into my account in october of 2011 from turbo tax that was supposed to be for someone else. I spent it. The credit union has just now determined that it should have gone to someone elses at the credit union saying it was the other banks fault. They were off by one number of the account. I dont have the money. What are my options.

Attorney Answers

3
Curtis Lamar Harrington JrTax LawyerLong Beach, CA ·
These are weird. What normally happens is that because the sending bank sent it to the wrong account, they are probably liable for it. The POSSIBLE bad news is that your bank has an agreement with you and will reverse your account into an overdraft for which you will cover or for which you will owe the bank. Money deposited will go into the bank's pocket. I suggest you get a new account at another bank so that you can have an operating account and can pay your old bank back slowly if you elect. You should get a local attorney to look at your bank agreement to VERIFY what your liability to your (old) bank is. Please remember to designate your question's BEST ANSWER. Curt Harrington (562) 594-9784 [email protected]
0 upvotes
Teri Walter ·
Unfortunately, if money is mistakenly deposited into your account - even if the deposit is not your fault - the money does not magically become yours, and you are responsible for the fact that you spent it. So yes, ultimately you're going to have to pay it back.
0 upvotes
Christopher Larson ·
You will find there are very few "mistake bonuses" in life. Many people have the perception that if somebody messes up, and know they messed up, that if the other person later notices the mistake, they will somehow have no recourse. The law is intended to put people where they should be, not create "free stuff." Christopher Larson www.insightlawfirm.com www.insightlawfirm.wordpress.com
0 upvotes

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