meh

[textualdeviance]

All you bastards out there cooking crank in bathtubs, fuck you very much. I apparently can't get regular sudafed late evenings at Freddy's because the damned pharmacy counter is closed.

*loads up on Advil cold and sinus instead*

In other news, the chorus is coming along swimmingly, although the absence of one rather ill mrdorbin was very greatly felt. The acoustics in Pilgrim are 3000% better than that dead, carpeted room at Unity and that corrects a multitude of sins. I think we'll be in decent shape tomorrow, and probably even better next weekend.

Oh, and the IRS is auditing us because they think we owe them $28k for non-reported stock sales in 2003 (this despite the fact that the sales in question were taxed automatically.) Um. Oookay. Just the headache I need. *smites stoopid citigroup people*

Time to go sleep this day off.

Comments

[fenchurche.livejournal.com]

I apparently can't get regular sudafed late evenings at Freddy's because the damned pharmacy counter is closed.

We've gotten practically anal about remembering to keep some of the stuff on hand, after way too many incidents like this.

Oh, and the IRS is auditing us because they think we owe them $28k for non-reported stock sales in 2003 (this despite the fact that the sales in question were taxed automatically.)

This has happened to us TWICE now... apparently their software hasn't caught up to even the 20th century, and so even though the money is THERE on the form and in their databases, it still chokes on it. Hopefully your experience will be more like the one we had this year... one simple phone call, a very nice IRS agent who rolled her eyes along with us at the stupid software, and a letter a few weeks later saying the matter was cleared up.

The first experience was like that too... only it didn't happen until the third time we talked to an agent after the third notice we received saying "you owe us money, when are you going to pay?" Oh, and supposedly led to the first two agents getting in some hot water, because they noted our conversations in the records, but never bothered to follow up on them.

I think rackham may have given mekle the advice given to us by Very Helpful IRS Agent this year on how to submit things so their software won't keep tripping over it, year after year. Why they don't just make this info common knowledge, I'll never figure out... or better yet, fix the friggin' software!

[iolanthe-rosa.livejournal.com]

My husband's the tax expert, but it seems to me you get double-taxed on stock sales: you pay the alternative minimum tax up front, then later you have to pay either income tax on it, or maybe it's a capital gains tax if you made a profit. Or maybe the AMT is for options only. Um. The one and only year we ever hired an accountant was a year when I was exercising options, buying and selling stock from one company AND was an insider at a company where I was exercising options and buying and selling stock. Official insidership sucks.

I like being a low-level paralegal! I feel like if I even get a paycheck now.

[textualdeviance.livejournal.com]

These options work a bit differently than most stock, though. There's a buy price (the cost of exercise) and then tax gets taken from there. Since it's bought and sold the same day, there's no capital gain (or loss) like there would be if the stock were actually held and then sold.

We've sold options like this virtually every year for the past 8 years, and this is the first time it's been an issue. Like fenchurche says, it's probably just that the IRS software doesn't understand that the options in question have already been counted.

[textualdeviance.livejournal.com]

Thanks for the tip. I've got to dig through my files and find our return from that year to make sure I filed the Schedule D and all that so I know what to tell them when I call.

Not surprised this has happened more than once, though. Sigh...