Originally Posted by okoye35chiefs
the audit surrounds my stock options...
The IRS wants me to claim the option at full sale price like lets say 240 shares at $40.00.
Well it is an option so I only own $24.00 of that not all 40.00!!! So instead of $9,000 I only get $5760 which once taxes are taken it is more like $3000 if you are lucky... (just an example)
So I get this letter saying I owe like 50k and I about flip out...
With my tax guy being a MORON he never filed it all that accurate! WTF..
Needless to say it was a big pain in the ass and you are right... they will audit you a few times after the 1st one...
So do you have to file ammended returns with the correct information or what?
Who was your tax guy and why the **** can he not do taxes?