Legal Question in Tax Law in New Jersey

I received a letter from the IRS today stating that I owed $3,500 in taxes from 2009. The letter stated that I had withdrawn almost $17,000 from an IRA. Problem #1 is that I do not nor have I ever had an IRA. Problem # 2 is that my uncle who is a financial adviser had custodianship over money in my name since I was born. I was given a skip generational inheritance that I was supposed to receive at age 21 in 2007. In 2007 I was told there was no money left. I know what company the IRA was with and I am pretty sure it was my uncle who opened it up and took the money. How do I go about finding out whether there is still an IRA under my SSN and find out if there is any other stocks, bonds, or money in my name?


Asked on 5/01/12, 6:31 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

The letter should have included information about the account, such as the entity that held the account, and the account details. I suggest contacting that entity and getting information about the account - who opened it, who had signature authority, what the account consisted of, etc. If the account was opened for you and someone else had authority to deal with it, and that person may have closed it out without telling you, this might be a fraud matter both involving the company and IRS. I am not sure you want to go there, but perhaps retaining an attorney to assist you might make it easier.

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Answered on 5/01/12, 11:36 am


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