![]() Do not let these people take over your life with their nonsense when you are the best interface that the IRS is looking for. ![]() I will never do this again, and I suggest to others that if you have an issue, get an accountant or lawyer, or, if your records are in decent order, have them come to your place of business and work it out using reason and common sense. ![]() The audit defense was mostly a punishment for me, while my direct interface with the IRS was mostly simple and direct. I had no penalty applied, but only ionterest on the unpaid tax. I was able to settle my issues in 2 1/2 hours and the result was exactly as I had thought it should have been. Virtually all the items the Turbotax defense people said I needed was not true. He said I did not need a travel log or a digital copy of my income/expenses. I had my records laid out so he could see everything and see that my home was in line with our income. When the auditor came to my home, I found him to be reasonable and professional. I had the feeling that they were not explaining our business and how we maintained records. They then said that they would not be present if I did this myself, and I told them I could do better. This seemed ridiculous, so I said I could do better in person. We keep good records, but the dwefense people insisted I needed a travel log of all mileage done for business and a list of all travel expenses with all hotels and airfare done separately so I would need to tear apart all of our account files for the auditors. We have a small business, my wife and myself. Finally, I told them I wanted the auditor to come to my home and see my records. Two months of spending days making copies, sespite my protestations that this should not be necessary. They insisted I needed a digital copy of all of my records. I had some issues when I was notified that my 2016 tax filing was being audited and the defense team had me spending months making digital copies of everything and having an accountant make a QuickBooks file duplicating my ledger sheets. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs.The TurboTax audit defense made my life a living hell. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. ![]() This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful. You'll find a link to your 1098 form in the Year-end Statements section.įor other 1099 tax forms: If you have not received them by February 15, please contact us. If you meet the guidelines for receiving a 1098 form, you can log in to Online Banking, select your mortgage account and then select the Statements & Documents tab. ![]() You can find the exact amount of interest earned in the previous year on your deposit account by selecting the Information & Services tab. If you're enrolled in Online Banking and you meet the IRS guidelines, you can find your 1099-INT form by signing in to Online Banking, selecting your deposit account and then selecting the Statements & Documents tab. Forms are mailed by the end of January and should arrive by mid-February. (For example: If your account does not receive at least $10 in interest, you won't receive a 1099-INT form.) You should review the IRS guidelines to see if they apply to your specific financial situation. 1099-INT and 1098 forms are issued based on guidelines established by the IRS layer. ![]()
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