i would have to decline because i think my client is guilty. from the information you provided it sounds to me like you figured you could pull a fast one by under reporting income. then you got tripped up by your customer submitting a 1099. am i close? not to worry. the irs is easy to deal with. if you just pay what you probably owe it will be over. when people get in trouble and the irs seizes property is when they try to play games and refuse to pay after the irs demands payment. the irs can play hardball if necessary. my advice to you is if you owe the money pay it as quick as possible and call it education.
I wonder what my few neighbors would think if I were to put a couch on the front porch, and one of those mini refrigerators? I could start drinking 40oz malt liquors in the mornings, cashing my government assistance checks at noon, and fighting with the neighbors over the broken bottles laying everywhere by nightfall.
Not even close. But, I'd still hire you as my Attorney for FINRA and SEC audits. (totally different than the IRS mess) You haven't lived til you've dealt with FINRA.:eek: They are worse than the IRS if that tells you anything. I know some B/D's who have had them in their offices for two years+ and that's pure harrasment. Legal harrasment.
I was working real hard at one point, lived in a middle class place, paid taxes, my black neighbor was on section 8, worked a little for cash, had cars better than mine, had lots of free time and his wife would threaten to sue somebody if they asked her the time of day.... so I got on the dole myself. It was cool, better to make $ by political extortion than working in the USofA, no pressure on me to pay anything, I had time to work on the trading, best thing I ever did...
if you want harrasment you should deal with the dot. i used to run a trucking business and had to deal with dot audits of driver logs. they can come into your office and sit there and go through your paperwork matching up fuel tickets with driver logs to make sure drivers were not fudging their hours.
Oh, I can only imagine! I have a Client who owns a trucking company (liquid tankers) He tells me all about it, and it's nuts! He had to put satellites in his trucks to keep track of the trucks so the drivers wouldn't drive with two log books. (meaning driving over their hours.) He tells me what the fines are every time the dot gets done with him, and it's... Well ouch!:eek: The things they "get" him for are asinine too. Small, petty stuff. Sad
Lol understatement of the day! The IRS has foreign nations change their laws to get its money: http://www.washingtonpost.com/wp-dyn/content/article/2010/06/17/AR2010061703754.html A year ago I got the dreaded letter from the IRS regarding a business I sold my interest in. Turns out my ex biz partners stopped paying withholding taxes after I left. I shit my pants and hired a tax lawyer at $250 / hr. They seemed to have stopped sniffing up my tree, and I consider it money well spent.