Check if these are actually from the IRS or Department of Treasury, or if they might be scams. Real IRS letters have a notice number (usually CP followed by numbers) in the upper right corner. If the letter just says "Department of Treasury" without specific IRS markings, be suspicious!

This is definitely a serious situation that needs immediate attention. Given the amounts involved ($22K and $123K) versus your actual income during college years, this screams either identity theft or a major IRS error. The fact that the letters cut off mid-sentence is also a red flag that something went wrong in their system. Here's what I'd do right away: 1. Call the IRS immediately using the number on the notices to get complete information 2. Request your tax transcripts for 2010-2011 online at irs.gov or by calling 1-800-908-9946 3. Pull your credit reports to check for any accounts or employment you don't recognize 4. Gather all your tax documents from those years (W-2s, 1099s, tax returns) Don't panic, but also don't delay. Even if this is completely wrong, ignoring it will only make things worse. The IRS has powerful collection tools, but they also have procedures to fix errors when they happen. You have rights as a taxpayer, and if this is identity theft or their mistake, it can be resolved - it just takes persistence and proper documentation.

Make sure u have a written agreement!!! I loaned my cousin $11k with a handshake deal and when he stopped paying after 6 months, I couldn't claim it as a bad debt because I didnt have proper documentation. The IRS denied my deduction and said I needed to show it was a legitimate loan with expectations of repayment. Lesson learned the hard way lol

Great question! You're getting caught up in two different rules that don't actually contradict each other. The $10,000 threshold you're seeing is for gift tax reporting (Form 3520 for large gifts received), but since you're charging interest, this is clearly a loan, not a gift. For your situation, you only need to report the interest income you actually receive each year. Since you've only received a small portion of interest so far, you'll report that on Schedule B of your tax return - even if it's under $600, you still need to report it as income. The key thing is you structured this correctly by charging interest. Without interest, the IRS could potentially treat the entire $15,000 as a gift subject to gift tax rules. Keep good records of all payments received and make sure your written agreement clearly shows the loan terms, interest rate, and repayment schedule. You're doing everything right - just report the actual interest income you receive each tax year, nothing more complicated than that!

this happened to me 2 years ago! first call ur state unemployment office ASAP!!! i had to fill out an identity theft affidavit (IRS form 14039) and send it in. also get a credit freeze at all 3 bureaus right away!! don't report the income on ur taxes!! wait for the corrected 1099-G that shows $0. my state took about a month to send the new one after i reported it.

I work as a tax preparer and see this fraudulent 1099-G issue frequently. Here's what you need to do immediately: 1. Contact your state unemployment office to report the fraudulent claim - don't delay on this step 2. Request a corrected 1099-G showing $0 in benefits 3. File IRS Form 14039 (Identity Theft Affidavit) to notify the IRS 4. DO NOT amend your already-filed return yet - wait for the corrected form Since you've already filed your return without including this income (which is correct since you never received it), the IRS may send you a notice asking about the discrepancy between your return and the 1099-G they received. When this happens, respond with documentation from your state showing the benefits were fraudulent and include a copy of your corrected 1099-G. Also freeze your credit immediately and monitor for other signs of identity theft. Someone likely used your information to file a fraudulent unemployment claim, so there could be other issues. The key is acting fast with the state unemployment office - the sooner you report it, the quicker they can investigate and issue corrections.

Just a heads up for anyone new to ESPPs - the taxation gets even more complicated if your plan has a "lookback provision" where you get the discount based on either the price at the beginning or end of the offering period, whichever is lower. In those cases, you might actually have MORE than just the straight 15% discount counted as ordinary income. If the stock price increased during the offering period and you get to use the lower beginning price, that additional discount also counts as ordinary income.

I've been through this exact situation and want to emphasize something that might not be obvious - make sure you understand your company's specific ESPP terms before assuming the standard 15% discount applies the same way everywhere. Some plans calculate the discount differently (like using the lower of beginning/ending prices as mentioned), and some companies withhold taxes on the discount automatically while others don't. I learned this the hard way when I assumed my situation was identical to what I read online. Also, keep detailed records of your purchase dates, fair market values, and actual amounts paid. You'll need these for Form 8949, and it's much easier to track this as you go rather than trying to reconstruct it at tax time. Your brokerage statements might not have all the details you need for proper tax reporting. One more tip - if you're planning to do immediate sales regularly, consider the transaction costs. Frequent small sales can eat into your gains pretty quickly depending on your broker's fee structure.

I also have the same issue but my code 150 have a future date , code 810 is some months ago

Hey Greg! I went through something super similar last year. The 810 freeze is definitely frustrating but you're on the right track having done the in-person verification. Those codes 766 and 768 are actually good signs - they show your credits are being processed and applied to your account. The 4/15/24 date you're seeing is just the tax filing deadline, not your refund date unfortunately. After identity verification, the IRS usually takes 6-9 weeks to lift the freeze and process your refund. Keep checking your transcript for when that 810 code disappears - once it's gone and you see an 846 code, that's when you'll have your actual refund date! The waiting is the worst part but you're definitely moving in the right direction 👍