We received a letter from the IRS stating that I h...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

We received a letter from the IRS stating that I had a substantial tax understatement penalty on our 2018 taxes in the amount of $1,714. 1040, Line 10, 11, and 13?

Changes to our 2018 tax return
Income and deductions
Retirement income taxable
     Shown on Return $0
     As corrected by IRS $37980
      Difference  $37980
 Interest
      Shown on Return $0
     As corrected by IRS $101
      Difference $101
Retirement income gross
Shown on Return $0
     As corrected by IRS  $597
      Difference  $597
2 Replies
Level 14

We received a letter from the IRS stating that I had a substantial tax understatement penalty on our 2018 taxes in the amount of $1,714. 1040, Line 10, 11, and 13?

If you did not have retirement and interest income tell that to the IRS. 

Anonymous
Not applicable

We received a letter from the IRS stating that I had a substantial tax understatement penalty on our 2018 taxes in the amount of $1,714. 1040, Line 10, 11, and 13?

somehow the IRS has 1099's with either your spouse's or your SSN on them.  are you sure that one of you didn't forget about the income they received. By the way with the IRS saying you had about $39,000 more income than reported you would have to owe a lot more in taxes for there to be a substantial; underpayment penalty. 

i suggest you use

The Audit Defense service is provided by TaxResources, Inc., also called TaxAudit.com, in partnership with TurboTax. If you paid for Audit Defense and you received an IRS notice, call TaxResources, Inc. at 877-829-9695, or report your IRS notice on their web site at http://intuit.taxaudit.com/. Do not contact the IRS until you have spoken to TaxResources. They may contact the IRS on your behalf.

Dynamic Ads
v
Privacy Settings