Anyone been audited?

[fourstringdrums]

So today I got a letter stating that there was a discrepancy in my 2009 tax return. Long story short, in 09 I withdrew an IRA and with that comes a 10% early withdrawal fee. The only thing is, I'm permanently disabled so I'm exempt. Fidelity refused to change the code on my tax form, so what I entered and what they submitted are different. So I'm hoping all I have to do is prove the disability (which will be easy since I've been reciving SSDI since 07) and all will be well.

Still, has anyone been audited before? It's quite the stressing prospect even though I know it will most likely work out.

[UncleFluffy]

I've been called in for an interview for my business stuff. Before it happened I was nervous as all hell, but the interviewer was pretty friendly. Trouble was, I had to explain the tax code to them - to the level of "here, look at this table where it gives the numbers for vehicle deductions" and the suchlike.

Worked out OK in the end, but it was somewhat weird having to explain the tax code to the IRS. No idea if my experience was a typical one, though.

If you're sure of your case and have all the paperwork you need you'll be fine. But make a note of the relevant paragraph numbers just in case ...

[Staccato]

Fidelity deals with lots of problems. First, see if they will assist you in correcting this, before you commit to anything further with the IRS.

A friend of mine went through a big deal with Vanguard last week over the way they reported a Rollover. That was not his fault, and it was in his favor.

Work with Fidelity first, and if they stall, escalate the problem to the supervisor and/or manager level of their customer service side that deals with client tax reporting/department. If they tell you that they are handling things, make sure to follow-up every 2-3 days, and make sure that they copy you on any documentation via email attachments.

[fourstringdrums]

Originally Posted by Stacatto

Fidelity deals with lots of problems. First, see if they will assist you in correcting this, before you commit to anything further with the IRS.

A friend of mine went through a big deal with Vanguard last week over the way they reported a Rollover. That was not his fault, and it was in his favor.

Work with Fidelity first, and if they stall, escalate the problem to the supervisor and/or manager level of their customer service side that deals with client tax reporting/department. If they tell you that they are handling things, make sure to follow-up every 2-3 days, and make sure that they copy you on any documentation via email attachments.

Got your PM and responded, thanks.

As I said, I am doing what the IRS is asking first by mailing their required response form with a signed statement regarding what I believe is the issue just so I don't miss the June 22 deadline they're giving me.

[Joe Gress]

Yay I won an Audi!

Peter your being audited, thats an audit.

No see, its an Audi-t!







Sorry I'm no help, good luck man.

[fourstringdrums]

Originally Posted by Joe Gress

Yay I won an Audi!

Peter your being audited, thats an audit.

No see, its an Audi-t!

Sorry I'm no help, good luck man.

Thanks for the laugh though

[Munjibunga]

I've had them ask a few questions, which my accountant cleared up quickly. It doesn't sound like you're going to get a full audit. You just need to set them straight on that one issue. It shouldn't be a big hassle.

[fourstringdrums]

Situation resolved. I may have been on hold for 40 minutes, but all it took was 5 minutes and the agent cleared everything up. I didn't even have to give any more information or ammend my return. She basically just took my word for it.

[LiquidMidnight]

Originally Posted by fourstringdrums

Situation resolved. I may have been on hold for 40 minutes, but all it took was 5 minutes and the agent cleared everything up. I didn't even have to give any more information or ammend my return. She basically just took my word for it.

Awesome.