Audits

DataCruncher · Mar 28, 2008

An interest payment was mistakenly put on a family member's 1099 instead of mine because of a bank error. My family member who received the erroneous 1099 is elderly, in poor health, with a weak heart. I don't want them to have to deal with the IRS because of this stupid 1099 error as they are easily stressed out.

Anybody ever have themselves and a member of their family both audited by the IRS?

DataCruncher · Mar 28, 2008

anybody have insight into this issue? it is urgent

Surdo · Mar 28, 2008

Quote from DataCruncher:

anybody have insight into this issue? it is urgent

Ask H&R Block, you are paying them, aren't you?

DataCruncher · Mar 28, 2008

Quote from Surdo:

Ask H&R Block, you are paying them, aren't you?

no, I would never use them. I haven't paid anybody yet

Surdo · Mar 28, 2008

Quote from DataCruncher:

no, I would never use them. I haven't paid anybody yet

My bad, wrong poster using H & R Schlock!
One of you needs to pay estimated on the 1099, if you do not file the return. If the account is JTWROS, then I believe you can file it on your return. How is the account named?

DataCruncher · Mar 28, 2008

Quote from Surdo:

My bad, wrong poster using H & R Schlock!
One of you needs to pay estimated on the 1099, if you do not file the return. If the account is JTWROS, then I believe you can file it on your return. How is the account named?

hey man no problem. What do you mean by JTWROS?

Surdo · Mar 28, 2008

Quote from DataCruncher:

hey man no problem. What do you mean by JTWROS?

Joint Tenants with Right of Survivorship.

"A type of brokerage account which is owned by at least two people, where all tenants have an equal right to the account's assets and are afforded survivorship rights in the event of the death of another account holder."

nkhoi · Mar 28, 2008

Quote from DataCruncher:

anybody have insight into this issue? it is urgent

just tell your family what to expect, as long as you can explain what went wrong so that a 3yo can understand then you have nothing to fear. I am sure they will provide you with a case number and tel of a person you suppose call, call him or her and be ready with your explanation.

gurucandidate · Mar 28, 2008

Best to deal with this in person.
Be well prepared with your documents and walk into the nearest IRS office to talk to them. The front offices of IRS are staffed by customer friendly, helpful people. If the particular person that is attending to you can't give an answer ask to see the manager.

I have been in an out of IRS offices many times over the decades and I never felt that I was treated unfairly.

I discovered this long time ago when my own accountant tried to make a federal case (pun intended) of a problem I had. In person I have settled it in minutes.