3 ms·
Years ago I sold a property I owned for about $150,000. Then one day, probably about two years later, I got a letter from the IRS. It was a notice that I owed
by jjwiseman 7y ago
Years ago I sold a property I owned for about $150,000. Then one day, probably about two years later, I got a letter from the IRS. It was a notice that I owed hundreds of thousands of dollars in back taxes, and that I had 30 days before they would begin to take money out of my bank accounts (a bank levy).
The problem was that when the title company recorded the sale, the person entering the data added an extra zero to the sale price, and the IRS thought I had sold it for $1.5 million! Luckily the IRS was very easy to deal with and gave me a few months to resolve the issue, and the title company was able to fix the records.
- vidanay 7y agoA friend of mine once received a letter from the IRS demanding several thousand dollars in unpaid taxes on interest earned from a bank account of some type. He told them that if they provided him with the account info that earned that much interest that it owed thousands of dollars in taxes, he would happily pay including penalties. Turns out it was an off by one error in a SSN
- labster 7y agoGosh. Imagine if SSN included a checksum, and were not just issued sequentially. Instead we get a reminder that all this is really random, and if your soul had been born 50 milliseconds earlier you too could have been rich enough to owe thousands in taxes on a single account.