matching notice from IRS

[JenMO]

Client received matching notice for 2014. We have the 1099's with correct account numbers, which we reported. Matching notice has same account number with more income . The notice doesn't even show the amount we reported, just the amount they say we didn't report. Where do I start? Ask the bank for the 1099 they sent to IRS? and ask about the discrepency from what they sent us and what they sent IRS? How can i get a sheet that shows all income reported to taxpayer? is there a form number? or do I call with an 8821?

[TaxGuyBill]

It might be easiest for the taxpayer to get a "Wage and Income Transcript" online. That will show all of the W-2s and 1099s that were issued to the taxpayer. If the client is married, have BOTH spouses get the transcript.

https://www.irs.gov/individuals/get-transcript

If the transcript shows a 1099 with different information than what the taxpayer received, the taxpayer may want to ask the bank about the discrepancy. If the transcript shows a 1099 that the taxpayer did not give you, most likely the taxpayer just made a mistake and did not give you everything.

[JenMO]

i can't find the link for the wage and income transcript. the only options are account and tax return transcript, and i already have that

[TaxGuyBill]

Sorry, I guess that is only available by mailing in Form 4506-T.

You might be able to call if you have a Form 8821 (you definitely can if you qualify for a 2848), but it may just be easier to mail the 4506-T.

[Kram BergGold]

Options

A W-2/1099 report can be requested either by the client calling 1-800-829-1040, or by you getting a P of A and calling the Priority Line or by having the client with you when you call the Priority Line. The third option is the best way to go.

[JON]

Brokerage Accounts

always have slight changes, but usually not large enough to get a notice. CP2000 usually have a fax number. I have used that with good results by sending what I have for information used to prepare the income tax return..

[Burke]

Yes, I would start with furnishing them the 1099 you have. There could have been a corrected one issued later even after the return was filed. Check with the issuer. Most CP2000's show the amount you reported, and the amount reported to them by the issuer. Are they calculating an amount due showing you reported nothing?