Legal Question in Civil Litigation in Maryland

Can a Investment Broker be held liable for an IRS Audit

Can a stock investment firm be held responsible for an IRS Audit caused by the stock broker investment firm sending my 1099''s to my ex-wives address even after being advised of my address change. This is a follow up question from my Judicial Corruption question. My wife was caught cheating on me after less than 2 years of marriage by the mans wife & then she called me to advise me of this. We separated & I notified my stock broker that I had moved from Virginia to Maryland. This was in 2001. The stocks were in both names, but under my sole social security number. The broker was sending my 1099's to her address and she was not forwarding them to me. I was audited for 2002 & told to pay over $6,000.00. I wrote to the brokerage firm & they said that their Rep did nothing wrong, not surprising to me. IRS has not caught the other years of 2001 or 2003 yet but I am sure they will. I live on a small disability pension & have a 14 year old in my sole custody & cannot pay the IRS. I have 2 boxes of evidence in support of all the wrong things that have been done to me & my son. I recently had to sign the stocks over $125,000.00 to my ex due to the Miscarriage of Justice after she already stole over $282,000.00 from me. Signed Lost in MD.


Asked on 3/17/05, 11:09 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Can a Investment Broker be held liable for an IRS Audit

While you might have a complaint against the brokerage firm if you were assessed penalties and interest, you are responsible for underpayment of any tax on income you didn't report. You might be able to work something else on any penalties and interest. I suggest you take a pro-active stance on the other years you under reported--it will stand you in better stead with IRS.

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Answered on 3/18/05, 4:23 pm


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