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Anyone been audited?

Discussion in 'Off Topic [BG]' started by fourstringdrums, May 27, 2011.


  1. fourstringdrums

    fourstringdrums Decidedly Indecisive Supporting Member

    Oct 20, 2002
    Massachusetts
    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.
     
  2. UncleFluffy

    UncleFluffy

    Mar 8, 2009
    California
    Head Tinkerer, The Flufflab
    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 ...
     
  3. Staccato

    Staccato Low End Advocate

    Aug 14, 2009
    Alabama
    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.
     
  4. fourstringdrums

    fourstringdrums Decidedly Indecisive Supporting Member

    Oct 20, 2002
    Massachusetts
    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.
     
  5. Joe Gress

    Joe Gress

    Dec 22, 2005
    Pueblo, CO
    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.
     
  6. fourstringdrums

    fourstringdrums Decidedly Indecisive Supporting Member

    Oct 20, 2002
    Massachusetts
    Thanks for the laugh though :)
     
  7. Munjibunga

    Munjibunga Retired Member

    May 6, 2000
    San Diego (when not at Groom Lake)
    Independent Contractor to Bass San Diego
    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.
     
  8. fourstringdrums

    fourstringdrums Decidedly Indecisive Supporting Member

    Oct 20, 2002
    Massachusetts
    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.
     
  9. LiquidMidnight

    LiquidMidnight

    Dec 25, 2000
    Awesome. :)
     

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