Taxes, taxes and more taxes: The Democrats want to raise them and the Republicans don’t. Who likes writing a check to the IRS? Not, many for sure. Have you ever received a refund you didn’t fully deserve? Maybe.

Have you ever received a huge refund you definitely did NOT deserve? Probably not. If you didn’t, what would you do? Hence the subject of today’s blog.

If you are like the man who failed to notify authorities after he had $110,000 deposited into his bank account by accident you could be charged with theft and could face time in jail.

Stephen McDow, from Laguna Beach, had the huge amount of money given to him by mistake by the IRS after a 67-year-old woman made an error when passing over her account details.

How to Reduce Personal Debt

After failing to inform authorities about the error and spending more than half of the amount to get himself out of debt, McDow now faces jail time after being arrested over the alleged felony.

McDow, who faces four years in prison if convicted and is being held on $110,000 bail, is charged with grand theft by misappropriation of lost property for simply keeping quiet about the sudden increase in his finances.

The error occurred after the elderly woman from Los Angeles failed to inform the IRS that in 2004 she had closed a bank account she had registered with them.

The account number was subsequently assigned to McDow, who then received the funds intended for the woman. McDow received the money on September 10 last year and reportedly started spending the money almost immediately to pay off debts

By September 11 he had started taking out funds, which would eventually come to $65,000, to buy a car and to pay off his student loan and a mortgage to prevent foreclosure on his home.

When the woman was told that McDow had received her money she called him and demanded her money back.

Having already spent so much of the $110,000, McDow offered to pay back the balance in monthly installments but the woman allegedly declined the offer.

McDow, a husband and father of two, was subsequently arrested and is now on bail for the alleged crime.

Tax lawyer Jerry Unis, who is not trying the case, said: 'He said: "Look, I screwed up. I spent it on my student loan and I spent it on my home mortgage."

That is no excuse. Winning the lottery is one thing, this was thievery. Maybe a California Theft Class could have helped.