Quote:
Originally Posted by TaxGuru  In itself, I don't think there is a probability of an IRS audit. The amended 1099-Misc is reported on the 1096-Annual Transmittal Letter. This is a very common occurrence, that is, a filing of an amended 1099-Misc/1096 Annual Transmittal letter.
I really don't think you should be particularly concerned about this since it was not originated from you, and it is more of a concern to the issuing company.
So, I think there is "Zero" possibility of an audit being triggered from this event itself! |
Thank you so much for the replay. Should the irs contact the company, they will claim that the 'value' of the stock stands and it was issued to my consulting company rather than me personally hence the zero 1099. would I be better off rebutting their information which will challenge their valuation and include all relevant information? (e.g. they obtained the high valuation in order to increase their 2007 write-offs not thinking about my tax event)
