L K Williams wrote:
- quote -

(snipped....)

- quote -

Over the years I've had many cases in which I attached such
an explanation about a potential mismatch, and perhaps it's
just down South, but somebody must have read them, cause I
never had a client who got a CP2000 because of it.

However, these days of efiling, such a statement is just
attenched to the form 8453, and I doubt that anybody will
take the time to read the statement. No brains needed just
to open the mail and file the 8453 away for the future.

ChEAr$,
Harlan Lunsford, EA n LA

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Lanny is right, the IRS employees working Underreporter
cases do not get or use the original return so any
explanation that is attached to it won't be read by them.

Rudy
www.LizcanoTaxServicesLLC.com

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hlunsford[at]bellsouth.net"
<hlunsford[at]bellsouth.net> wrote:

- quote -

Frannkly, Harlan, I wouldn't bother. In my experience, IRS
never reads such explanations. When the computer tries to
match the 1099 to the return, it won't matck, of course.
Since it is the computer generating the CP-2000, it can't
read the note so it will send the request anyway. That's
the time to make the explanation.

Just my opinion.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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Wayne Rivers wrote:

- quote -

Here is a sticky wicket. How does the real estate agent
politely request his broker to correct the 1099-misc without
risking loss of good will/job/whatever.

To be sure, he should request a correction, but if that is
not forthcoming, then file the return with a separate
statement inclosing a copy of the offending 1099-misc with
an explanation attached. Wouldn't hurt to "promise" that the
late payment will be included in the proper (2006) return.

ChEAr$,
Harlan Lunsford, EA n LA
Fri 10 mar 2006

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"Wayne Rivers" <wayne[at]wayneriverscpa.com> wrote:

- quote -

A 1099 is only a presumptive indicator, not a dispositive
one. If you have evidence that it is wrong, use the correct
numbers. In this case, if you kept the envelope showing the
2006 postmark, that should be sufficient. If it wasn't
mailed, you should have some other evidence that the check
was not received in 2005.

I once had a client who won some $30,000 on Jeopardy. He
taped the show in September, it aired in October and the
show issued a check dated in late December. However, the
check was mailed in an envelope postmarked in January. Even
though Jeopardy included the winnings on the 1099 for the
first year, we reported in the income in the second. There
was no problem with IRS on this.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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"Wayne Rivers" <wayne[at]wayneriverscpa.com> wrote

- quote -

The correct amount of income you actually received (assuming
you are on the cash basis).

- quote -

Always report the correct amount of income.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

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If someone receives a 1099 that includes income they
received in January, what should be reported on Schedule C?
It is a significant amount (RE commission) that the payer
didn't determine until 2006 - they then backdated a check
and sent it to the agent in January.

Thanks

Wayne

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