kristinafh
New Member
My jurisdiction is: Indiana, USA
We received a notice of deficiency related to our 2007 income taxes. The discrepancy that they note is additional income (which is true). My initial plan when I found the discrepancy (and two others), was to amend the return.
In amending the return, the amount we will owe will be significantly less than what they are stating in this letter.
The options seem to be
1) File an appeal with the U.S. Tax Courts or
2) Sign form 5564
I'm not really sure which way to go because it appears that if I sign form 5564, I will need to send in the amount that they state we owe (which, according to my amended return - the one I need to do - would be much different). And frankly, I don't have that kind of money sitting around to just mail in.
The U.S. Tax Courts option seems way over the top.
Suggestions?
We received a notice of deficiency related to our 2007 income taxes. The discrepancy that they note is additional income (which is true). My initial plan when I found the discrepancy (and two others), was to amend the return.
In amending the return, the amount we will owe will be significantly less than what they are stating in this letter.
The options seem to be
1) File an appeal with the U.S. Tax Courts or
2) Sign form 5564
I'm not really sure which way to go because it appears that if I sign form 5564, I will need to send in the amount that they state we owe (which, according to my amended return - the one I need to do - would be much different). And frankly, I don't have that kind of money sitting around to just mail in.
The U.S. Tax Courts option seems way over the top.
Suggestions?
