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Fucking IRS. I must say I always paid taxes and never had problems with them. 2008 I made some nice stock trading profits. Paid taxes for them all to the last

by yooy123 14y ago

Fucking IRS. I must say I always paid taxes and never had problems with them. 2008 I made some nice stock trading profits. Paid taxes for them all to the last penny. Actually, I taxes more than I had to, since the bank statement reported higher profits that actually occurred (must be a real gypsy bank). What the bank statement did not report, was the buy and sale of an ETF. I held it for 3 months, made maximal 1% profit of it. The IRS became aware that I sold this ETF, but they could not figure out when and for how much I bought it. Hence, they assume, the sales price is 100% profit. Not they want: * back taxes for a profit that never occurred * Fine me since I did not pay taxes for this profit that never occurred. * on top of that, want interest for this whole cluster-fuck. I did not receive some letters from them since I was abroad because I was totally broke. I have no idea how I can pay this. It makes me also think that I might have to go offshore. I have to save urgently for retirement and just can not afford that the IRS pulls some random gypsy charges out of nothing.

vellum 14y ago
You don't have to go offshore. The same thing happened to me. What you need to do is get an accountant or get a copy of Turbotax for that year. Then you enter in all your info and make sure you fill out Schedule D. They'll give you the person's (examiner) name on their letter. I filled out a new tax form, and sent the letter below to the IRS. A few weeks later, they said "Thanks for the info, and we'll contact you if we need anything else." That was a few years ago. Haven't heard anything since. ------------------------------------------- Dear Examiner: I have attached a Schedule D form, which I did not include in my 2009 tax return. According to the CP 2000 letter, the securities income reported to the IRS was $xx,xxx. But this was using a zero cost basis for stocks sold. The schedule D form I have included provides the cost basis for all stocks sold. The final total for the Schedule D shows a net loss of $xx. Sincerely, xxxxx

by yooy123 14y ago

vellum 14y ago

You don't have to go offshore. The same thing happened to me. What you need to do is get an accountant or get a copy of Turbotax for that year. Then you enter in all your info and make sure you fill out Schedule D. They'll give you the person's (examiner) name on their letter. I filled out a new tax form, and sent the letter below to the IRS. A few weeks later, they said "Thanks for the info, and we'll contact you if we need anything else." That was a few years ago. Haven't heard anything since. ------------------------------------------- Dear Examiner: I have attached a Schedule D form, which I did not include in my 2009 tax return. According to the CP 2000 letter, the securities income reported to the IRS was $xx,xxx. But this was using a zero cost basis for stocks sold. The schedule D form I have included provides the cost basis for all stocks sold. The final total for the Schedule D shows a net loss of $xx. Sincerely, xxxxx