About Stacie’s More Tax Tips

Stacie’s More Tax Tips provides an assortment of information including tax and accounting advice and original commentary.

I also like to tell stories about the triumphs and woes of taxpayers.  Check out Joe Schmo’s story.  And, I bet Abigail’s story of sex, drugs, and taxes will blow you away.

More Tax Tips also gathers information published by the Internal Revenue Service and organizes it by topic on the blog. Check out my IRS Patrol and IRS Presents. Sometimes I include additional commentary on IRS publications, news releases, and tax tips by inserting [Stacie says] into the body of some IRS posts or publications.

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About Stacie Clifford Kitts.  I am the managing partner at Katherman Kitts & Co. LLP where I provide a variety of services including: tax planning, tax consulting, tax compliance, and business consulting.

I concentrate on serving high net worth individuals and their closely held businesses. My industry experience includes: Construction, Manufacturing, Distribution, Professional Services, Oil and Gas, Retail, Technology, Healthcare, and Real Estate.

I live in California. I have three wonderful children, two fabulous grandchildren, and my pal Merry a 4 pound yorkie.

I am licensed by the California Board of Accountancy.

Contact Information

Try my company website Katherman Kitts & Co. LLP where you will find more information about my background,experience, services that I offer, and other fascinating information.

6 Responses

  1. Hello,
    Where on my 1040 do I insert a (already decided ) Ponzi theft loss?

  2. Joe
    For more information and guidance regarding ponzi losses and your tax return, you can review this post Ponzi Scheme Victims – Tax Guidance

  3. Hello. I have a friend who worked for a Magazine company for a little bit. He didn’t like it so he went back home and decided to stay unemployed. He now has a 1099 that was sent to him and the IRS saying he owes like $20k in taxes. He never received a pay check only little bits of cash the short time he was there. There was no direct deposit or anything that shows he was paid any sort of amount where he would owe $20k in taxes. The company has now filed bankruptcy and I was wondering if you have any advise on how to go about disputing this large tax issue. Help please. Thank you for any information or advise that you can give. It will be much appreciated.

    • Hi Jperry

      The thing is, your friend must be prepared to follow through. Fighting this type of situation takes tenacity. He or she must be willing to go-through- with-the-fight or the problem will not go away – not ever. There is no expiration date for income tax collection. If your friend thinks that ignoring this will make it will go away, he or she will find that this will haunt them way into adulthood…like I mean forever.

      So here is what your friend should do

      1) contact the taxpayer advocates office (google this for the contact info) and tell them what happened. Your friend will need to write out a detailed account of the situation, everything they experienced, what they actually received in pay, how they where abused if at all, I mean everything…. Ask the advocate to put a hold on the account until your friend can contact the company and ask for a corrected Form 1099 showing the proper amount of income.

      2) Write a letter to the company that issued the Form1099 asking them to correct the Form 1099 to reflect the actual amount paid. Send it certified return receipt for proof that you contacted them.

      3) If by some miracle the company does issue a corrected form, use that form to file a tax return reporting the correct amount of income and pay the tax that is due if any.

      If the company does not or can not issue a correct Form 1099, you can argue your case with the IRS through the tax payer advocates office.

      I successfully argued Abigale’s case based on research of industry practices, the sales company’s refusal to co-operate, on the basis that she should have been classified as an employee and that the amount reported to her was never actually received.

      If your friend is willing to follow through, please have them contact me. There will be work that he or she will need to do and if they are not willing to do it nobody can help..

      Otherwise, I am willing to help give advice or represent them if necessary. Personally I would like to see more regulation over this industry and I think that what it (the industry) is getting away with is awful and down right disgusting.!!!!

      • Thank you for your advice. Yes we would love more help. He contacted the IRS and they put a 30 day hold to do his 2009 taxes until 4/29/2011. There were some discrepancies with 2001, 2002 and 2003 1099′s also. He will contact the taxpayers advocates office and advise them of the situation he works days so I am thinking the certified letter would be okay. If not could you let me know? Also the research that you found about the industry would be very helpful when we call. We are going to try to see how far we can get by ourselves with all the advise you give us. It is very much appreciated. He is not working right now so we don’t have enough money for representation I am sure but we have to resolve this asap. Thank you so much we are very glad we found this blog you started up. Sincerely, Jen and Rob

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