I have received a letter from the IRS saying I owe 4600.00 for unreported income on a 1099-R on a plant closure retirement buyout in 2009, I do not think I ever received a 1099-R from my previous employer. They say they sent one, am I out of luck on this just have to pay it or is there something I can do.
Asked on 11/10/11, 5:29 am
1 Answer from Attorneys
If you received the money, you owe the tax, whether or not you received a 1099. But did you receive a buyout of $4,600 or did you receive a much larger amount and the taxes on that amount are equal to $4,600?
Answered on 11/22/11, 10:52 am
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