<ChenangoBusinessServi...[at]hotmail.com> wrote:

- quote -

The attachment of a disclosure statement is not going to
necessarily trigger a review of the return. If your client
was issued a 1099 for the damage payout it might cause a
CP-2000 notice to be issued. Otherwise, you will have to
wait out the 3 year SOL. Presumably the disclosure itself
will preclude the 6 year SOL and the absence of fraud will
keep you out of trouble beyond that.

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For my client, I filed a 1040 with an exclusion based on IRC
section 104(a)(2) exclusion damages.

I attached a disclosure Form 8275-R, to cover our asses.

How long will it take IRS to respond??

Noel Nichols

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >