0
popsjumper

IRS Error In My Favor - Collect $2K

Recommended Posts

WooooHooo!
Hit the freakin' IRS jackpot!

I made an error on my tax return. IRS did their own calculation, screwed it up worse than I did and sent me a letter saying I owed another #300.

After some recalculations on both sides, I get a $2K refund.

Woooooooo-freakin'-HOOOOOOOO!


Hookers and blow!
My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

Share this post


Link to post
Share on other sites
Quote

WooooHooo!
Hit the freakin' IRS jackpot!

I made an error on my tax return. IRS did their own calculation, screwed it up worse than I did and sent me a letter saying I owed another #300.

After some recalculations on both sides, I get a $2K refund.



Yeah, I did something like that a couple years ago.

First I got the refund check which I expected.

Then I got an additional check for interest at a higher rate than I'd have earned in my bank account!

Later a 1099-INT followed from the IRS which amused me because I'm usually the one sending them tax forms.

Share this post


Link to post
Share on other sites

I got a audited by the IRS a few months ago with them wanting ~$20K in taxes & penalties from 2010. After many hours of combing through paperwork, I sent them a bunch of forms proving I did not make a pure profit when I moved money from one mutual fund to another. :S (In fact I lost money).

After waiting months for an answer, they finally decided *they* owed *me* $1k.[huge sigh of relief]

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

Share this post


Link to post
Share on other sites
Quote

I got a audited by the IRS a few months ago with them wanting ~$20K in taxes & penalties from 2010.
After waiting months for an answer, they finally decided *they* owed *me* $1k.[huge sigh of relief]

Damn, I had a similar story a few years back. I sold some stock but didn't report the cost basis and a few other things (thought the IRS had that info). I got one of THOSE letters in the mail, an IRS bill for about $15K. It took me about a year to refute most of it. I was actually a month short of my court date for the last part of it when I got the "you're correct" letter. Whew! And yes, I also got an extra $500 or so back that I didn't catch. B|

Next year I hired an accountant. :D

Share this post


Link to post
Share on other sites
Quote

Quote

I got a audited by the IRS a few months ago with them wanting ~$20K in taxes & penalties from 2010.
After waiting months for an answer, they finally decided *they* owed *me* $1k.[huge sigh of relief]

Damn, I had a similar story a few years back. I sold some stock but didn't report the cost basis and a few other things (thought the IRS had that info). I got one of THOSE letters in the mail, an IRS bill for about $15K. It took me about a year to refute most of it. I was actually a month short of my court date for the last part of it when I got the "you're correct" letter. Whew! And yes, I also got an extra $500 or so back that I didn't catch. B|

Next year I hired an accountant. :D


It was a huge PITA, made even worse by the fact 2010 was the *only* year for which I could not find copies of my returns. Damned if I know what happened to them, since I have copies for every other year going back 10 years. I was prepared to hire a tax attorney if the paperwork I submitted didn't convince them.

It is my understanding that beginning with the 2011 tax year, the IRS will be getting cost basis info directly from companies such as Vanguard, Fidelity, etc, so this type of thing won't happen so often. Vanguard insisted I choose a cost basis method for my accounts last year.
"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

Share this post


Link to post
Share on other sites
Quote

Cool.

Just today I got a $450 property tax refund on account of "county assessor error".



:)The Community Chest Card.
Pass Go and collect $450.
:)
My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

0