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Personal IRS Problem

 
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Bribby View Drop Down
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    Posted: Jan 03 2013 at 10:22am
Ok 2011 was the first time I filed taxes since I had a job but I only had like $160 dollars in taxes to get back, I thought for some reason I could claim my daughter but I couldn't since I was being claimed.. Anyways all I got was a refund
This week in the mail I get a CP2000 notice talking about proposed changes and I may owe $1,700 to the IRS so this sent me into a panic..
I find out the information sent in is about some stocks ..
Basically my mom had some account in my name and took money out and that counted as MY income but I know nothing about it.
I call the IRS the guy is talkin about filing a Schedule D since the transaction is incomplete, and I tell my mom this and she's like well what if we do that and it comes out to you owing more.
Also the guy was asking me did I know about this and I didn't say anything... because I don't want my mom to be in trouble
She obviously knows something is what my dad is saying..
I'm trying not to get mad because my mom helps me a lot even financially,  but this was over $14,000 I KNOW was not all contributed to myself, and I had no idea of this until I got this notice.
She just wants to pay the amount they say I MAY owe.
I'm not sure if doing that will make this all go away??

please help
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jonesable View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote jonesable Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:23am
I can't help with the other stuff but hey Bribby.
Hope you and the LO are doing well
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ThoughtCouture View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:27am

if she pays it, it will go away.

is there still stock in your name, tho?


Edited by ThoughtCouture - Jan 03 2013 at 10:28am
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Bunnyahh View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Bunnyahh Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:29am
Originally posted by Bribby Bribby wrote:

Ok 2011 was the first time I filed taxes since I had a job but I only had like $160 dollars in taxes to get back, I thought for some reason I could claim my daughter but I couldn't since I was being claimed.. Anyways all I got was a refund
This week in the mail I get a CP2000 notice talking about proposed changes and I may owe $1,700 to the IRS so this sent me into a panic..
I find out the information sent in is about some stocks ..
Basically my mom had some account in my name and took money out and that counted as MY income but I know nothing about it.
I call the IRS the guy is talkin about filing a Schedule D since the transaction is incomplete, and I tell my mom this and she's like well what if we do that and it comes out to you owing more.
Also the guy was asking me did I know about this and I didn't say anything... because I don't want my mom to be in trouble
She obviously knows something is what my dad is saying..
I'm trying not to get mad because my mom helps me a lot even financially,  but this was over $14,000 I KNOW was not all contributed to myself, and I had no idea of this until I got this notice.
She just wants to pay the amount they say I MAY owe.
I'm not sure if doing that will make this all go away??

please help
my eyes got SOOO big when I read this part.  GUUUrRRRLLLL!!!! mother or NOT  she has GOT TO PAY ASAP.  If not, you sing like a fuccin canary!!!  Cuz the irs does NOT play and will throw in jail with the quickness.  they give not one single iota of a fucc about anybody's sob story.  TRUST
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freedom76 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote freedom76 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:29am
Have her pay what is owed. At the same time you need to find out about this stock.
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Prazol60 View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Prazol60 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:30am
You need to talk to the IRS face to face and tell the the truth. Do not get yourself stuck with a bill you didn't cause
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Bribby View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bribby Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:31am
Originally posted by jonesable jonesable wrote:

I can't help with the other stuff but hey Bribby.
Hope you and the LO are doing well


Heyyy *waves hands* Yes we are doing really good thank you :)
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Post Options Post Options   Thanks (1) Thanks(1)   Quote SamoneLenior Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:31am

this happens

just let her pay it and be done with it
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Post Options Post Options   Thanks (2) Thanks(2)   Quote Naturalchick30 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:32am

He is correct.  You do owe income tax on that money since it is income.  Have her pay it to avoid possible liens.

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Bribby View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bribby Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2013 at 10:32am
Originally posted by ThoughtCouture ThoughtCouture wrote:

if she pays it, it will go away.

is there still stock in your name, tho?


Okay, and I'm not even sure, I need to let her know I don't want nooothing In my name I'm guessing...

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