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Re: Form 1099 (interest income) from IRS?? [revised]

  
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Re: Form 1099 (interest income) from IRS?? [revised] btat3808 01-13-2008
Posted by btat3808 on January 13, 2008, 4:14 pm
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 If you filed for a phone federal excise tax refund, check your 2006 return
Form 8913. This is probably the interest compounded on your phone federal
excise tax refund March 2003 thru July 2006. They get you coming and
going.

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Posted by bvitenas on January 14, 2008, 11:01 pm
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> If you filed for a phone federal excise tax refund, check your 2006 return
> Form 8913. This is probably the interest compounded on your phone federal
> excise tax refund March 2003 thru July 2006. They get you coming and
> going.
>
> --
> Message posted usinghttp://www.talkabouttaxes.com/group/misc.taxes.moderated/
> More information athttp://www.talkabouttaxes.com/faq.html
>
> --
> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used,   >>
> << nor can it used, for the purpose of avoiding penalties  >>
> << that may be imposed upon the taxpayer.                  >>
> <<                                                         >>
> <<   The Charter and the Guidelines for submitting posts   >>
> <<  to this newsgroup as well as our anti-spamming policy  >>
> <<                  are atwww.asktax.org.                 >>
> <<         Copyright (2007) - All rights reserved.         >>
> << ------------------------------------------------------- >>

I just checked my 2006 tax return and sure enough the crytic 1099 form
from the IRS was
exactly the amount calculated as interest for my telephone excise tax
refund on Form 8913.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Stuart Bronstein on January 14, 2008, 11:04 pm
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wrote:

> I just checked my 2006 tax return and sure enough the crytic 1099
> form from the IRS was
> exactly the amount calculated as interest for my telephone excise
> tax refund on Form 8913.

It just struck me, but why in the world would they send a 1099? Isn't
the purpose to notify the IRS? Don't they know already?

Or is it just their way of saying "gocha"? I wonder if what they'll
recover in tax on those interest charges will be greater than the costs
of creating and sending all those 1099.

Stu

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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Harlan Lunsford on January 16, 2008, 4:51 pm
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Stuart Bronstein wrote:
> wrote:
>
>> I just checked my 2006 tax return and sure enough the crytic 1099
>> form from the IRS was
>> exactly the amount calculated as interest for my telephone excise
>> tax refund on Form 8913.
>
> It just struck me, but why in the world would they send a 1099? Isn't
> the purpose to notify the IRS? Don't they know already?
>
> Or is it just their way of saying "gocha"? I wonder if what they'll
> recover in tax on those interest charges will be greater than the costs
> of creating and sending all those 1099.

Sure they already know it, so the real purpose is to let you know that
they know it! ifyougetmydrift.

ChEAr$,
Harlan

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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by vikingrob on January 30, 2008, 10:35 pm
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> Sure they already know it, so the real purpose is to let you know that
> they know it!  ifyougetmydrift.

If that's the case, why not simply put a line on the tax form to add
the interest to your income above the line?

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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