Deposit vs Payment

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  • solomon
    Senior Member
    • Aug 2006
    • 1012

    #1

    Deposit vs Payment

  • WhiteOleander
    Senior Member
    • Jun 2005
    • 1370

    #2
    That is very interesting. Do you think that we could advise clients is a similar situation to label their check as "deposit for tax year XXXX" to keep the SOL from running out on them?
    You have the right to remain silent. Anything you say will be misquoted, then used against you.

    Comment

    • Jesse
      Senior Member
      • Aug 2005
      • 2064

      #3
      So could withholding from W-2's be considered a deposit and not a payment?
      http://www.viagrabelgiquefr.com/

      Comment

      • erchess
        Senior Member
        • Jan 2007
        • 3513

        #4
        Don't Understand

        His memo on the check and its inclusion as an estimated tax payment on the return to me would support the IRS position and trump testimony about his intentions and the intentions of his preparer.

        Comment

        • Corduroy Frog
          Senior Member
          • May 2007
          • 601

          #5
          Disagree

          I normally applaud a court decision against the IRS, considering the way they steamroll their way through our economic structure, leave off definitions in the code so they can force people into wary judgmental results, etc.

          But not this time. I would hate to have a client like this guy.

          If someone wants license to waffle back and forth with big money, I hope they do so at their own risk and not drag me into it.

          Very interesting case, Solomon.

          Comment

          • Larmil
            Senior Member
            • Dec 2006
            • 621

            #6
            Originally posted by erchess
            His memo on the check and its inclusion as an estimated tax payment on the return to me would support the IRS position and trump testimony about his intentions and the intentions of his preparer.
            Can't the IRS appeal?

            Comment

            • OtisMozzetti
              Senior Member
              • Dec 2007
              • 530

              #7
              So, if the IRS really considered the $50,000 that the taxpayer paid to be a payment toward only his 2000 taxes, why didn't they return the excess payment to the taxpayer?

              For the IRS to say, "we didn't return your $50,000 to you within 3 SOL years, and therefore you'll never get your $50,000" does sound a bit inequitable, assuming that the word inequitable even applies with taxes.

              I wish I understood why the taxpayer never bothered to ask for his $50,000 back, i.e. what else was going on during this time.

              Or was it that the taxpayer just put $50,000 on deposit with the IRS, ready to pay whatever tax bills for 2000 or for future years that might come his way eventually?
              Last edited by OtisMozzetti; 08-21-2009, 03:05 PM.

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