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You mean sole proprietor right?
So, Paypal GIFT does count as income
- Thread starter mjmjr25
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I don't have a 1099 for 2015 - would I still amend my 2015 return? If yes, what would I amend? Or was this assuming I had a 1099 for 2015 as well?
As for progress - not much. My hope of talking to a human did not happen. The local office phone directory actual says "We are located at 515 East 1st Street and visitation is by appointment only. To schedule an appointment call 1-800...". The local office literally has a machine that directs you to an 800 number. That 800 number did not give me an option to set up an appointment. There were 3 options; to set up a payment plan, to pay a tax bill, or to check on the status of a disputed claim. Nothing about setting up an appointment to review this.
So, I went ahead and filed the official "I do not agree with these changes" response. I typed up a 2 page letter explaining what this was and provided 20 pages of invoices and 5 emails from members here. No idea when i'll here back, but at least now I can use that 3rd option "check on the status of a disputed claim", and from there perhaps i'll be given the option to set up an appt.
Yep, typo. Sole proprietor.
Mike, I'd have to talk to these guys tomorrow as they worked at CPA firms and did personal returns. This was just bs'ing over lunch. We all agreed to fight this big time. Me, I've started in Corporate and am now further pigeon holed down into minutia of IRS method changes and Fixed Assets swaps/divestitures/acquistions and financial modeling of the tax attributes of these assets. Albeit, I'm probably the biggest quarter to quarter impact on our earnings call, yes little ole me messing with some serious players' money.
Anywho, I would say it is good that you have responded, and entered into a dispute. This will show you are responding and are not a dead beat. That being said, they might pull the "we must have full payment before considering your case" shit that some states pull. I get pretty busy during the workday, but just remind me to talk to my buddy at the IRS. He'd probably actually enjoy discussing this.
Mike, I'd have to talk to these guys tomorrow as they worked at CPA firms and did personal returns. This was just bs'ing over lunch. We all agreed to fight this big time. Me, I've started in Corporate and am now further pigeon holed down into minutia of IRS method changes and Fixed Assets swaps/divestitures/acquistions and financial modeling of the tax attributes of these assets. Albeit, I'm probably the biggest quarter to quarter impact on our earnings call, yes little ole me messing with some serious players' money.
Anywho, I would say it is good that you have responded, and entered into a dispute. This will show you are responding and are not a dead beat. That being said, they might pull the "we must have full payment before considering your case" shit that some states pull. I get pretty busy during the workday, but just remind me to talk to my buddy at the IRS. He'd probably actually enjoy discussing this.
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UPDATE - May 2nd.
I called today and finally got a live body. Technically she wasn't supposed to answer my questions because it specifically says on the voicemail and their scripting that they have 30 days to respond to your disagreement. But...I pestered the gal at the IRS call center and told her I don't want to know if there has been a decision - I just want her to CONFIRM receipt of my 30-page fax. BECAUSE, part of the process says if you fax your response, you CAN'T send hardcopies via certified mail as that may delay your case, OR result in 2 disputes as the case will be handled independently by 2 different agents. So, I said, "I'm not asking for any details on updates or decision - I just want to know if you have the fax. I'm due to send $7,000 on Wednesday or additional interest and penalties start accruing."
At first she was a bit prickly, but after some nudging she acknowledged it was received on 4.11, accepted and reviewed on 4.13, and a response letter was sent on 4.28. I said, "I don't suppose you have access to what the response letter says? My wife has been so nervous about this..." - just mentioning my wife sorta melted her down, she read me the entire comments.
"This account has reverted to original 2014 filing. Balance is zero. Taxpayer provided 30 pages of receipts and other accompanying documents. 1099K amended return not required. Taxpayer is not a business and did not profit. Closed 13th day of April 2016."
I don't have the letter in hand yet - but...this feels pretty close to permanent resolution. I'm over the moon. Big big ups to those who offered to both give money and loan money - some very considerable offers came my way during this ordeal and my sincere appreciation to those folks. I'm definitely going to find a way to repay the community for their kindnesses and offers of help during this process.
I'm now going to lock this form away in a vault and hopefully never have to pull it out again. (my personal sensitive bits pulled off doc for obvious reasons)
I called today and finally got a live body. Technically she wasn't supposed to answer my questions because it specifically says on the voicemail and their scripting that they have 30 days to respond to your disagreement. But...I pestered the gal at the IRS call center and told her I don't want to know if there has been a decision - I just want her to CONFIRM receipt of my 30-page fax. BECAUSE, part of the process says if you fax your response, you CAN'T send hardcopies via certified mail as that may delay your case, OR result in 2 disputes as the case will be handled independently by 2 different agents. So, I said, "I'm not asking for any details on updates or decision - I just want to know if you have the fax. I'm due to send $7,000 on Wednesday or additional interest and penalties start accruing."
At first she was a bit prickly, but after some nudging she acknowledged it was received on 4.11, accepted and reviewed on 4.13, and a response letter was sent on 4.28. I said, "I don't suppose you have access to what the response letter says? My wife has been so nervous about this..." - just mentioning my wife sorta melted her down, she read me the entire comments.
"This account has reverted to original 2014 filing. Balance is zero. Taxpayer provided 30 pages of receipts and other accompanying documents. 1099K amended return not required. Taxpayer is not a business and did not profit. Closed 13th day of April 2016."
I don't have the letter in hand yet - but...this feels pretty close to permanent resolution. I'm over the moon. Big big ups to those who offered to both give money and loan money - some very considerable offers came my way during this ordeal and my sincere appreciation to those folks. I'm definitely going to find a way to repay the community for their kindnesses and offers of help during this process.
I'm now going to lock this form away in a vault and hopefully never have to pull it out again. (my personal sensitive bits pulled off doc for obvious reasons)
Spoiler:
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Zapperkhan
Kula's Candy
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That is awesome, thanks again for everything you've helped out with in the community.
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Mike this the best news ever! Im so happy for you bro, really I've been really worried about this. I wish you wouldn't had to sell a bunch of you gear thats what sucks the most out of all of this.
Thanks, Marty. It's all good man - i'm fine with the stuff I did sell. Chem will tell you - I was never going to ALL Ibara.
Now I have some unexpected cheddar to do some things for the family and buy some tools I needed anyways - I have plenty of gaming and non-gaming related projects in the queue; so it's all good!
ChopstickSamurai
I have earned the, right to PM Rot.,
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Oh hell yes. Glad this whole debacle is behind you. I don't deal well with this sort of stress so I totally sympathize. Take that IRS and PayPal!
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Great news! At least folks at IRS are sensible and reasonable in reviewing your case.
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Awesome news man, super relieved for you!
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UPDATE - May 2nd.
I called today and finally got a live body. Technically she wasn't supposed to answer my questions because it specifically says on the voicemail and their scripting that they have 30 days to respond to your disagreement. But...I pestered the gal at the IRS call center and told her I don't want to know if there has been a decision - I just want her to CONFIRM receipt of my 30-page fax. BECAUSE, part of the process says if you fax your response, you CAN'T send hardcopies via certified mail as that may delay your case, OR result in 2 disputes as the case will be handled independently by 2 different agents. So, I said, "I'm not asking for any details on updates or decision - I just want to know if you have the fax. I'm due to send $7,000 on Wednesday or additional interest and penalties start accruing."
At first she was a bit prickly, but after some nudging she acknowledged it was received on 4.11, accepted and reviewed on 4.13, and a response letter was sent on 4.28. I said, "I don't suppose you have access to what the response letter says? My wife has been so nervous about this..." - just mentioning my wife sorta melted her down, she read me the entire comments.
"This account has reverted to original 2014 filing. Balance is zero. Taxpayer provided 30 pages of receipts and other accompanying documents. 1099K amended return not required. Taxpayer is not a business and did not profit. Closed 13th day of April 2016."
I don't have the letter in hand yet - but...this feels pretty close to permanent resolution. I'm over the moon. Big big ups to those who offered to both give money and loan money - some very considerable offers came my way during this ordeal and my sincere appreciation to those folks. I'm definitely going to find a way to repay the community for their kindnesses and offers of help during this process.
I'm now going to lock this form away in a vault and hopefully never have to pull it out again. (my personal sensitive bits pulled off doc for obvious reasons)
Spoiler:
YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1111111111111111 1111111111111111111111111111111
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I'm a bit late to the party as usual but I'm glad you did not get screwed over. Your one of the good guys and would have been pissed if you got screwed over for helping the community out. I know you mentioned something to me last year about not sending any payments because you had done a bunch of group buys and didn't want to get screed over on taxes. Start doing money orders, lol.
Lemony Vengeance
Mitt Romney's Hairdresser,
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dude, I've been worrying about this since you first posted and I'm relieved that everything is working out in your favor. This was a very close call!