sked bu IRS to file 2006

[inventor1949]

What is the name of your state? California

Hi, I received a notice from IRS to file 2006 income tax because operantly i show some income in their books, OK not a problem, but i didn't file 2005 other but their asking to file for 2006 is it going to create any problems in the future for 2005 if? Note here, i had no income in 2005 other than the sell of my home and been married the capital gains fell below the 500.000 capital gains tax. .....thanks

 

[LdiJ]

What is the name of your state? California

Hi, I received a notice from IRS to file 2006 income tax because operantly i show some income in their books, OK not a problem, but i didn't file 2005 other but their asking to file for 2006 is it going to create any problems in the future for 2005 if? Note here, i had no income in 2005 other than the sell of my home and been married the capital gains fell below the 500.000 capital gains tax. .....thanks

Just file the 2006 return.

 

[lorddimples]

Advice Needed: Same issue yet I didn't designate incorrect year

April 16th 2007 My IRA was processed yet instead of designating the IRA contribution for 2006 the bank misplaced it for 2007.

I called yesterday & I spoke to a unenthusiastic representative then to his reluctant supervisor then to his hesitant boss.

He stated that the form didn't specify year so it was processed for 2007 instead of 2006. He was able to pull the original form & my check & according to him no year was stated on either. He doesn't see this as the banks mistake.

Nevertheless I was led to believe in April 2007 via phone conversations I had with bank reps that my check was received & processed for 2006. The bank boss did say he would check the phone records.

I did make a total of 4 calls to this bank to ensure process before the April 17th 2007 deadline for placing an IRA 2006 contribution. My last call was on April 16th 2007.

The phone records would help prove my case yet he did say making these adjustments takes a lot of time - something they don't look forward to.

I have a sizable tax increase with accruing interest due - per IRS snail mail notification revealing this IRA contribution issue. I hope the bank is receptive. It seems that I might have no options available here except to depend on the banks decision. Nonetheless I don't want them to get off easily. I stand to lose alot of money & can't believe that banks can get away with this.

What's funny is I already had an IRA account with this bank opened for 2005 income tax credit. For that year I sent in my check & the IRA form on April 10th, 2006. No error or misdesignation was made then.

Any advice greatly appreciated.
Thanks