Rub the wood vigorously with tack cloth to remove any surface debris.
Mix 2 tbsp. of oxalic acid crystals with one cup of hot water in a plastic container.
Dampen a small paintbrush with the mixture and dampen the stain with the solution.
Leave the oxalic acid in place until the stain is bleached away. This may take less than a half hour for soft woods or more than an hour for hardwoods. Re-moisten the stain as necessary to keep the oxalic acid from drying out.
Wipe the area clean with a clean sponge moistened with warm water.
Mix a small amount of a one to one solution of ammonia and water. Dip a clean sponge in the solution and wipe the treated area with it. This will neutralize the oxalic acid and keep it from bleaching the wood further or lightening any stain applied to the wood at a later date.
Wipe the area clean with a clean sponge moistened with warm water. Towel dry and allow the wood to dry further for 24 hours.
Re-examine the water stain. If it is still visible, repeat Steps 1 through 7.
Sand the area lightly, in the direction of the wood, with 280-grit sandpaper. Wipe away any sawdust with a dry paintbrush. Rub the surface vigorously with a tack cloth.