F
fuscucla1
Guest
What is the name of your state? California
I had a joint account at a broker. My partner had some fraudulent activity and the account was frozen by the SEC and then the money was seized. My partner pled guilty to a felony. The broker sent 1099s to the IRS
Now the IRS is contacting me for income taxes that are due on the money that the SEC froze and seized. I never saw the money, I signed it over to the SEC and they took it straight from my account. I even lost my own personal money in the freeze/seize. Someone else got the crime and the time, but I got the bill. I was never charged criminally. No court dates, nothing.
I asked the broker to reverse the 1099s and they are looking into it, but do I really owe this money? If anyone owes it why not go after my partner who pled guilty to stock fraud/manipulation??? How do I get this erased so I do not have to pay 108K to the govt who said that they were taking my 230K because it wasnt mine in the first place? I realize the SEC and the IRS are seperate entities, but if I cant keep something b/c its not mine then how can I pay tax on it??!?!?!?
I had a joint account at a broker. My partner had some fraudulent activity and the account was frozen by the SEC and then the money was seized. My partner pled guilty to a felony. The broker sent 1099s to the IRS
Now the IRS is contacting me for income taxes that are due on the money that the SEC froze and seized. I never saw the money, I signed it over to the SEC and they took it straight from my account. I even lost my own personal money in the freeze/seize. Someone else got the crime and the time, but I got the bill. I was never charged criminally. No court dates, nothing.
I asked the broker to reverse the 1099s and they are looking into it, but do I really owe this money? If anyone owes it why not go after my partner who pled guilty to stock fraud/manipulation??? How do I get this erased so I do not have to pay 108K to the govt who said that they were taking my 230K because it wasnt mine in the first place? I realize the SEC and the IRS are seperate entities, but if I cant keep something b/c its not mine then how can I pay tax on it??!?!?!?