Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 02-29-2008, 06:17 PM
Junior Member
 
Join Date: Feb 2008
Posts: 3
would a1099M error correction lead to Audit

In 2005 and 2006 I worked as ceo for a start up company as an independant contractor. At the time, my consulting company received fees and stock (not options) which vested when I departed. few weeks ago I received a draft 1099M for millions of dollars against an apparent 2007 stock valuation. when I contacted the company, the company agreed to send me a 'void/zero' 1099m, agreeing that it was an error since the stock was issued to a company and not me personally. howeber. the 1099m was filed with the irs.
question: if the company files now the corrected 1099m (zero) what is the probability for an irs audit? what do I need to do regarding my 2007 tax return?
Thanks



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to Avoid a Tax Audit for Sole Proprietorships TaxGuru General 2 05-02-2013 07:30 AM
Interest due from audit maximum Sole-Proprietorship 3 02-28-2008 02:13 PM
Tax audit rmccoo567 Itemized Deductions 2 02-22-2008 05:34 PM
Tips to avoid an Audit of a C-Corporation TaxGuru General 1 01-07-2008 11:07 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.