Gots a question to throw out..should be easy just need some confirmation
Got a letter from the IRS saying I owe them $'s.
I transferred an IRA in December of 2017 to another IRA in Jan 2018. Well within the 60 day period. (14 days to be exact)
Problem is, Fidelity didn't report the transfer until I got my 2018 5498. But the bank I cashed out the IRA from accurately reported my distribution in 2017.
So the IRS doesn't have a 5498 for 2017 showing the transfer. They have a 2018 one that either they haven't reviewed or put 1+1 together and obviously are unaware of the actual dates.
Of course I have all the supporting documentation but I just wanted some advice on how to best deal with them? [Reply]
Originally Posted by Buehler445:
I’d call the company you rolled the ira from. **** punt them. Then tell them what you’ve got. They’ll probably know what paperwork you need.
Then the accountant.
You said former accountant. If he’s not working for you anymore find a new one. Don’t call the IRS alone.
Former accountant is a she and I just don't need her anymore. But I am calling her before I call the IRS. [Reply]
Originally Posted by Buehler445:
Don’t call the IRS alone.
Yep! I've been audited twice. Hired a pro that deals with a specific issue on the first one, and the other who dealt with audits which the second one was. They wound up owing me money. :-)
Lot less stressful that way even if it may cost you some money. [Reply]
