Monday, October 27, 2014

3991 Freakout continued

Monday, October 27, 2014

"Everywhere is walking distance if you have the time."
- -Steven Wright--


Well, it's been a little over a week since that Friday I received the letter from the IRS insisting that I owed over $61K in taxes for 2012.

The letter had a lot of detail as to how they arrived at that figure, and over the weekend I dug out the tax filings and forms from 2011 and 2012 and compared my figures to the IRS's figures.  It looks like the IRS never received my 1040 etc filing.  For example, I had a refund from 2011, $2K of which I "rolled over" toward the 2012 taxes, and one of my income sources does withhold taxes.  The IRS says that only that amount withheld was paid, they don't show the $2K rollover.  They also show none of my deductions.  AND, the major error is that they show all the stock, bond, and fund trades that Piper had done on my behalf as pure profit - there was no cost basis deducted for those trades.

Yup.  Looks like they never received my 1040 filing for 2012.

The next Monday I overnighted (a "verbed" word if I ever saw one) copies of the IRS letter to Piper the money guy, and Angel the CPA.  They went to work on it.  I don't much care how it gets handled, just so it does get handled.

Angel called me last Friday and said we would re-file the 2012 taxes, and he'd be overnighting me the completed 1040s etc, which I should sign and send to the IRS. He didn't mention the New Jersey taxes.

I found his use of the word "re-file" very interesting.  I strongly suspect that he never filed the originals.  Every year I gather all the info, make copies of the 1099s and real estate tax receipts and so on, and send him the packet.  He does my taxes, then sends it all to me, I review it and either make corrections or approve it as is, and then he e-files it for me.  If there's any tax due, I mail the check separately, but usually there's a small refund which we "wrap" toward the next year.  I'll bet you a gazillion dollars he forgot to e-file my taxes.

I didn't challenge him on it.

He startled me a little when he said that not only do I not owe any money, I'm going to get a refund of a few hundred dollars.

Well, it's Monday afternoon, about 2:30 pm, and the forms that were going to be overnighted Friday have not yet arrived.  I'm very anxious to see them.

You know, I'm afraid this might not be over yet....

No comments: