Hello,
I cashed out company stock options for $3,089 after taxes. These options pay through a separate check from my employer. I did not include the tax form from the stock provider in my return. The IRS has sent me a bill for $671. This is listed under securities. The IRS says I miss represent my income by the above amount.
My question is, will amending my return by filling the return with the stock option tax doc erase or decrease this $671 bill? I am not sure if I was given to much of a refund due to the reporting issue and the IRS is stating I owe it back or if the IRS dose not see that I have paid taxes on this income due to the reporting issue and once I report it properly the debt will be erased.
In short, will filling the doc I missed make a difference?
Thanks for the help.
