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Hi, I've been notified by the IRS about unreported capital gains. Back at the start of the pandemic I sold off a lot of stocks before major drops occurred and later re-bought others. Some of those stocks were in a brokerage account and hence I owe tax on the gains those sales generated. I missed reporting this correctly on my tax return and now need to clear up the matter. 1) showing good faith and keeping the correspondence going with the IRS do I have any case to plead for reduction in the penalty or interest due, if so any advice? and 2) what are my options to pay this bill (probably ~18k) and if I do need to sell more stock to pay the bill any advice on how to do that so that? Thanks In Advance
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- 2 years ago
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