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In reply to the discussion: My experience with the IRS this afternoon. [View all]ProfessorGAC
(76,024 posts)After dissolving a band because of 2 guys' heavy cocaine use, I did the last taxes. The band was operating as a DBA (doing business as) into an account in my name.
All the 1099 forms were in my name. I failed to save all the SS numbers from the year before, but I had ledgers of all band expenses & distributions.
Since I didn't want to get hung up paying on 90 grand, when my share was 10% of that, I called them for advice.
I told the guy that the SS numbers of the recipients were the same as last year, and I really wanted to avoid contact with these cokeheads.
He said to send him (personally) a letter saying what I just said, and copies of the ledgers.
I did & 2 weeks later I get a letter from them saying I owed taxes on $9,200 of earnings and that they would send auxiliary 1099 distribution forms to the other recipients. It said they considered my responsibility fulfilled.
It was WAY easier than I expected & the guy was super helpful.
I still have that letter in my fire safe, even though this was nearly 40 years ago.