- Jan 30, 2004
- Professional Status
- Certified Residential Appraiser
Has anyone else gotten a letter from the IRS about underreported income? I did 4 appraisals for a certain AMC in 2018, have the check stubs and 1099 to back it up- total for the work was $1480. Letter I got today from the IRS says that same AMC reported that I got $148,000 from them, and that I got that from them TWICE, so now I owe back taxes on roughly $296,000. This is obviously wrong, and will get sorted over time, but the onus is now on me, of course, to prove this. I have heard that others have had a similar experience with recently receiving a letter from the IRS about 2018 taxes and underreported income from the same AMC. The stories sounded disturbingly similar- a misplaced decimal point (like what turned $1480.00 into $148000). No one else I have heard of had it double reported though. Just asking because I would like to know what others have done. Has any one gotten ahold of the AMC that did this? I have not yet (just got the letter this afternoon and am coming down from the shock now). This is either 1) terminally inept/incompetent accounting, or 2) criminal (if not both), seems to me.