schirallicpa Posted May 1 Report Share Posted May 1 So- I mentioned this in a response on another person's post. My client's refund was partially taken to pay for tax and penalty on a 2019 assessment. The TP had omitted income from withdrawal from an IRA retirement account. Per the CP notice, TP reported 0 and IRS shows 17000. However, the TP had not received a 1099R (that he's aware of). And the wage and income transcript does not list this income either. So how does the IRS come up with this? I asked the TP if he remembers taking a withdrawal and he thinks he did. Typical TP didn't know it was taxable and didn't think about it when tax time came and didn't think twice about not getting a 1099R. Do I have any leg to stand on with the transcript not showing a 1099R income? Meanwhile I have asked him to reach out to that bank and ask for a copy of the old 1099. So good luck with that, right? Quote Link to comment Share on other sites More sharing options...
Lee B Posted May 1 Report Share Posted May 1 Perhaps you have a Tax Return Transcript instead of a Wage and Income Transcript? Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted May 1 Author Report Share Posted May 1 I printed everything I could. Wage and income doesn't have it listed. Quote Link to comment Share on other sites More sharing options...
Lee B Posted May 1 Report Share Posted May 1 Just thought I would mention the possibility, since there are 4 different kinds of transcripts and the standard Tax Return Transcript only shows what was on the originally filed Form 1040. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted May 1 Report Share Posted May 1 The notice tells you who issued the 1099R. Have the client call them. 2 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted May 8 Report Share Posted May 8 I had to file an amended return for 2022 for a client and it wouldn't efile because 'the withholding was wrong'. I got the Wage & Income transcript and lo & behold, the wife's 1099-SSN wasn't in the transcript. Nor her withholding on the 1099. But I had a copy of the 1099 issued in my sweaty little palm. It was weird and now you've got one too. 2 Quote Link to comment Share on other sites More sharing options...
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