Quote:
Originally Posted by Steve Carlton
So, they matured in 2018-2019? If you didn't claim the interest and are disallowed from getting it, I'd be surprised if you have to declare the income and pay tax on it.
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Have you never heard the song the Taxman???
We got audited in our first full year of business. I spent a LOT of money, a entire ream of paper, and a couple of weeks time just getting all the receipts printed, and prepared for the audit. In the end the agent decided that we owed less than 20 bucks for one of my dumb errors. I was fully responsible, but they decided it was not worth the effort and cost to open the file, so they had some high level supervisor decide to just close the file for that year. After I had to buy a new color laser printer-copier-fax and an entire ream of paper to show our receipts.