I Have Access To A Friends $600 IRS Stimulus Money

[highbids]

What is the name of your state? Florida


Hi Everyone,

It's a pleasure to get registered here, I've been laid off because of the Corvid 19 virus & i need some legal advice.

I have three questions I need help getting answered.

1. I helped a friend from work get the $1,200 stimulus money in the spring because he did not have a bank account by setting
up a paypal account & i need some questions answered about my tax liability for 2020

Paypal never sent a paypal debit card or he got his old address wrong, so i transferred the $1,200 to my paypal account.
and gave him cash.

2. I've lost track of him & i've called his old number & it goes to voice mail, I've also emailed him telling him
he's got $600 sitting in his paypal account & still no reply.

3. If he doesn't respond to my emails & voice messages, should I just leave the money in his paypal account>


Should I send him a registered letter to his last paypal address, he could has passed away it's been month's since I've heard from him & I could
use the money myself.

I'm worried about getting in trouble with the law, sense it's his money & not mine, what should I do.
Regards,

Gary C.

 

[quincy]

This is not really the tax section of the forum.

I will flag the tax attorney for you. @Taxing Matters

 

[adjusterjack]

You posted the same question on another site and Taxing Matters (aka Tax Counsel) provided the following response:

It's his money, not yours. You either leave it in his PayPal account for him to get or notify the state that money appears to be unclaimed and the state may take the money to hold for him. In any event, don't use the money for yourself as you are not entitled to it.

 

[quincy]

highbids’ former employer might have a forwarding address for his friend/coworker, especially if the friend (like highbids) was only laid off and not fired.

The employer might be calling back to work their laid off employees, once Florida gets Covid under control (although, admittedly, Florida might be one of the last states to get it under control).

 

[highbids]

That's what I thought thanks.

 

[quincy]

That's what I thought thanks.

We appreciate the thanks, highbids, so thank you.

I hope you can locate your friend. If he is like the majority of Americans, he needs the money.

Good luck.