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  1. C

    Employer overpaid profit sharing

    also found this re overpayment corrections at the IRS website: irs.gov/irb/2008-35_IRB/ar10.html#d0e1304 THE EMPLOYER tries to recoup the overpayment with interest, however, if the employee does not have the full amount the employer, or another person (undefined) must contribute the...
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    Employer overpaid profit sharing

    BTW, I appreciate your response. Kind of lost in a sea of legal, federal govt mumbo jumbo. BUT I found this: If the amount so assigned to a particular highly compensated employee has been previously distributed, the amount is an ExcessAmount within the meaning of section 5.01(3) of this...
  3. C

    Employer overpaid profit sharing

    First the compensation consultant sent me a non-shalont email saying there was an error. In his second email he showed me his two calculation percentages. Means nothing to me. The former employer sent a letter addressed TO ME, and sent a copy of that letter to the bank, stating the amount they...
  4. C

    Employer overpaid profit sharing

    Apparently the banks attorney cited RCW 30.22.210 which says the bank has the right to hold the depositors funds if they have information that someone else might have claim to them. So I guess now anyone can claim rights to anyones bank account at any time with just a simple letter.
  5. C

    Employer overpaid profit sharing

    the compensation consultant issued certificates at year end 2009 with my vested account balance of my profit sharing. In May I terminated and rolled over into an ROTH IRA, and paid the taxes. In July the former employer says I was overpaid by about 50%. They sent a letter to my bank, and my bank...
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