945 forms

[pmacduff]

ok - the latest and greatest in the line of what's up????

Anyone else have clients receiving letters from the IRS on the #945 withholding claiming that the deposits do not match the amount on the form?

I'm on my second one already today and both clients say they did submit the withholding and thankfully have the EFTS slip from their bank. I'm having them respond and send in the backup info, but am wondering if we are in for a whole slew of these....

[doombuggy]

I have had a slightly different issue.

A client requested a distribution via his broker on 12/30/09. The plan is terminating, but he wanted a portion in cash asap; the broker was trying to get it done before year end. They told me over the phone that the client/owner/trustee wanted a $20k lump sum with the rest rolled over. Twice I gave them specific instructions for a 20k lump sum - $20,000 gross, $4000 tax and $16,000 net. Early January I get a tax check for $5000. When i questioned the broker about it, he told me to send it back & it would be reissued. As it turns out, they wanted the client to get a NET check of $20k, so the tax check was correct. Needless to say, by the time it was sent to the IRS, it was the end of January. The client ended up getting some kind of noice that the payment was late. Because of the broker's screw-ups, they elected to take care of it themselves (they are the CPA as well, and can speak to the IRS - we have 2 ERPAs here & I am waiting on my confirm, but we would have charged to make the call).

I just got a VMM form another client that may have gotten the same type of letter. I have asked her to send it over, but it is making me wonder what is going on there?

[MARYMM]

ok - the latest and greatest in the line of what's up????

Anyone else have clients receiving letters from the IRS on the #945 withholding claiming that the deposits do not match the amount on the form?

I'm on my second one already today and both clients say they did submit the withholding and thankfully have the EFTS slip from their bank. I'm having them respond and send in the backup info, but am wondering if we are in for a whole slew of these....

We got a different version. The IRS says we never filed 945 for 2008. We don't do any 945 filings. Our recordkeepers handle all withholdings and filings for our QP's.