IRS Phone Hell
 

Got our corp taxes back recently with a cryptic note about needing K-1s for each payee.

Have no idea who the payees are. called the number on the form 2 hours ago. on 7th transfer now. no one knows anything. "we don't handle that." ...transfer

Know a good tax attorney or accountant you trust? Bet you'd get a better answer from them....

Based on your post, it sounds like your company is an LLC.

The K-1s would reflect all of the payments made to members of the LLC during the tax year.

K1 can also show a loss. Ask me how I know:D

thanks guys, "payees" are just our shareholders.

I asked why they didn't use "shareholders" on the form, response was, "I don't know, and I wouldn't have known unless I looked it up."

Just attach our K-1's and we're all set. 2 frikken hours for that.

S Corp. I can't stand LLC's. Operating agreements and evil partners suck. Ask me how I know.

Yeah, in an S corp the payee is the shareholder, same as an LLC

As far as agreements and evil partners, an S corp is no different than an LLC, other than the titles.

Operating agreement and evil partners v. shareholder agreement and evil shareholders.

in almost a decade of corporate tax preparation i have never heard of a CPA failing to attache K1's to a tax return. that is really odd.

btw, LLC's are not bad, but the operating agreements surely can be if not carefully prepared.

I had to call the IRS with a question about W-2s. I got someone on the line immediately, and the guy was quite helpful. I was suprised!

When I got married, I had to get a PIN to file my Illinois State Taxes electronically. The form instructed me to call the Illinois Department of Revenue to get a new PIN.

The "official" phone hours for the IDoR are 9:00 - 1:00, T-F.

I found that they frequently wouldn't switch on the phones until 9:15 - 9:30, they would switch them off again at 11:00, and may or may switch them back on again. I know this because I would get a pre-recorded message telling me to call during business hours when the phones were "off".

As soon as they switched on the phones, I would get a busy signal. After 10-20 minutes of speed-redialing, I might get into the automated answering system. After figuring out how to navigate the menu system (which answered none of my questions), I would get no sound on the line for 10 minutes...only then did a rep answer the phone (it took me over a month of hour+ phone calls to figure out how to navigate the system to get to this point). When I finally asked a real person how to get a PIN to file electronically, she told me that I had to file by paper and hung up...

The system was designed to get you to give up in disgust, and when you did reach someone, they refused to do the work to resolve your problem.