Bank One Messes Up, Woman Arrested, IRS Sues

by James & Miel on December 24, 2008 · 0 comments

I swear, the Tax Prof Blog comes up with the best stuff,

If you have a few spare moments, check out this story.

To make a long tale short, in 2002 Daniel and Brenda Standyk were interested in purchasing a used Geo Storm from a dealership in Kentucky. They bought a lemon and their car broke down seven miles from the dealership, so they cancelled payment on their check. Bank One mistakenly labeled the Standyk’s check as having “insufficient funds”. As a result Brenda was arrested, strip searched and humiliated.

The Standyks sued Bank One and got a settlement of $49,000 – which the IRS came after them for a cut in 2005.

Its all at the Tax Prof Blog, or you can read the court findings here.

Best,

James

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