CNBC quoted Principal Michael D’Addio in an article about steps to take if you are the victim of a fraudulent unemployment benefits claim leading to federal taxes due.
By Greg Iacurci
But they should consider explaining in a footnote to their tax return that they received a 1099-G in error, said Michael D’Addio, a principal at the accounting firm Marcum who’s based in New Haven, Connecticut… “At the end of the day, it’s very difficult to get the IRS to agree an item isn’t taxable when they have a form saying it’s taxable income,” D’Addio said.
Coronavirus Resource Center
Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.