HiTechWorker
Junior Member
What is the name of your state? ARIZONA
I got a letter from the IRS Friday stating that I under-reported my income on my 2003 taxes....and they say I owe just a little under $10k. I have until 4/27 to respond or they start adding on interest and penalties. I'm trying to find a good CPA locally that can help but this time of year isn't exactly the easiest time to find a good one that has time to help. H&R Block can get me an appt. on Wednesday but from what I hear those guys are just trained to use a Turbo-tax-esque program.
The difference is from stock options. I exercised some options form the company I worked for. The gross was ~ $14k, but my net was only about $9k. I thought the difference was taxes so I'm wondering why should I have to pay taxes 2x? They are saying I didn't report $27k...which is, I believe, the full value of the stock that I sold.
I got a letter from the IRS Friday stating that I under-reported my income on my 2003 taxes....and they say I owe just a little under $10k. I have until 4/27 to respond or they start adding on interest and penalties. I'm trying to find a good CPA locally that can help but this time of year isn't exactly the easiest time to find a good one that has time to help. H&R Block can get me an appt. on Wednesday but from what I hear those guys are just trained to use a Turbo-tax-esque program.
The difference is from stock options. I exercised some options form the company I worked for. The gross was ~ $14k, but my net was only about $9k. I thought the difference was taxes so I'm wondering why should I have to pay taxes 2x? They are saying I didn't report $27k...which is, I believe, the full value of the stock that I sold.