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I did not claim 30000 in income because I did not get a 1099

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and forgot to go back...
I did not claim 30000 in income because I did not get a 1099 and forgot to go back and check my bank statements for misc income now the irs wants to see my bank statements what can I expect
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Customer: no
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Submitted: 1 year ago.Category: Tax
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Answered in 3 minutes by:
6/30/2016
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,888
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello

They will add that $30000 to your income and you will have additional tax as well as a penalty for not paying on time and interest.

I would suggest you retain a CPA or Enrolled agent to assist you with this as they may be able to request an abatement of the penalty if this is the first time this has happened.

You are required to rate in a positive way (look for the STARS or SMILEY FACES) if I am to be credited with responding.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago

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