Audit Reconsideration May Be in Order Here...IRS Used $0 Cost Basis!

This taxpayer spent six years paying the IRS for a 2019 stock sale—only to discover that the IRS may have calculated the tax using a cost basis of zero.He originally owed between $14,000 and $16,000, has paid more than $10,000 through an IRS installment agreement and intercepted tax refunds, and still owes nearly $6,000.In this video, I explain:• Why simply filing an amended 2019 tax return may not fix the problem• How audit reconsideration works in a CP2000 automated underreporter case• What cost-basis documentation should be submitted to the IRS• Whether he should stop making installment agreement payments• Why the refund statute may prevent him from recovering everything he overpaid• Why dealing with the IRS Automated Underreporter unit can be surprisingly difficultIf the IRS treated your stock’s cost basis as zero—or assessed tax based on unreported brokerage proceeds—this video explains the process that may be required to correct it.Need professional help resolving an IRS tax problem? Learn more about Choice Tax Relief: https://choicetaxrelief.com/This video is for general informational purposes only and does not constitute individualized tax or legal advice.