This is primarily due to schedule-D. I had filed one for 2003 but totalled all the transactions rather than writing every item line by line. Unfortunately I had moved in mid-2005. So IRS mailed out some kind of errata which I needed to have responded by August 2005. Since I moved, I never received this notice. IRS then sent a collections notice in 2006. For which I responded with a new schedule-D with all the details. But IRS keeps ignoring every time I send a correspondence. I have hired a CPA. But today I received another notice, then I called IRS, they simply said, “Sir, your time to file for a correction to schedule-D expired in August 2005. So you owe us more than $100K. We will collect from you”.

I obviously am going to call my CPA and ask him to follow up. But I wanted some help from someone who has gone through this. This is just to make sure that my CPA is doing the right thing.

Thanks
Thank you so much for all those who a re posting here. Especially the one who told me about 04-15-2007 being the last date to file the amended return for 2003.

Good News!!! You wouldn’t believe, when I called the IRS, as I said, the guy told me, “Sir, we have made up our mind. You owe us the $100K and we will collect it from you by wage garnishment or assets from bank”. But when my CPA called the IRS they told him, “The letter was sent by mistake”.

I totally don’t get this. Why does the IRS give me (the tax payer) one answer and the CPA another answer. I’ll be glad if they just resolve this thing.