California-based Stephen McDow is in trouble with the IRS for spending part of the $110,000 that the government mistakenly sent to his bank account, reports KCAL. Apparently, the money was supposed to go to an elderly woman who had accidentally given the IRS an old checking account number that closed in 2004, which the bank recycled and assigned to Stephen. However, when the woman tried to get her money back, Stephen said that he had already spent $60,000 of it on student, car, and mortgage loans, but offered to pay her back in installments.
Despite his offer to pay her back, Stephen is being charged with one felony of grand theft by misappropriation of lost property and might face up to four years of jail time. Do you think the IRS should go easy on him?