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Did not receive K-1 form for trust payments, can I avoid penalties and interest?
I received money from a trust in 2017. I did not receive a K-1 form and was told the trust had paid all the taxes. However, I found out from the IRS that the trust did file a K-1 form, but the trustee has admitted she neglected to send it to me. I therefore did not pay any taxes on my 2017 return. Now the IRS says I owe the taxes plus penalty and interest. Since the trustee has admitted she failed to send me the K-1 form, then can I ask the IRS to waive the penalty and interest?
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‎September 25, 2019
10:01 AM