IRS Sons of dogs!!! Grrrrrrr!!!!!

The reason is probably that you know more about it than they do so you know the exemptions.

If they don't they will over tax you.

Barry wants your money.

And he wants it now.
 
Quote from DataCruncher:

OP, are you sure the IRS received all the proper cost basis information for your stock/options transactions?
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This happens all the time, it's a pain in the ass going back and getting the cost basis of all transactions if you're an active trader but I've seen million dollar tax bills because of this. It ultimately gets resolved but it's a hassle and your accountant will charge you a decent amount for all the work.
 
Look at the bright side. There's probably a high level position for you in the Obama administration. I suggest you give Barry a call.
On a more serious note, get a good tax attorney, now!
 
that's why i prefer to prepare my taxes by myself..there is will be no one to blame on, if problem arise. imo-preparing personal taxes is pretty easy and there is shouldn't be any surprises. for last 5 years or so i'm preparing the taxes for all my family members. typically it's a perfect match or off either way by dollar or two...
Oh yes, there are fines. I could buy you a new car for what the fines alone are
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just curious-how much is the penalties and interest on 97K you owned to IRS?
kinda doubt that you can buy a car on those..maybe something like 91 buick century :p
 
Quote from Free Thinker:

so you thought since there was no 1099 reported you would just forget that income? that sounds like tax evasion to me.
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No tax evasion. Sorry.
 
Quote from DataCruncher:

OP, are you sure the IRS received all the proper cost basis information for your stock/options transactions?
More...

The CPA's say they got all of the basis numbers in. However, they are going through everything they sent as we speak.

I know there was a 1099 that was missed, but that is my fault for not remembering it. (actually for net keeping good records. What a learning lesson!!!! I will be keeping records on ALL income now, which should be about the same as taking on a part time job.:( )
 
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