Forex 1099-b
If I'm wrong my tax return the IRS will penalize me?
What if the IRS has to change my tax return or if the leg big-time. Will I be disciplined or just send back and say "yes, we can not accept this?" However, I am more curious to know what will happen if I am wrong this back up? I will use the approach record performance to claim the loss of the currency in line 21 of 1040. I said in a previous question and four respondents said they "can not do that, the agency sends Form 1099-B of the IRS." I've looked into this extensive and Forex Brokers, NOT send the IRS 1099-B.
The IRS does not punish you for making a mistake in your tax return. However, if the average error you did not pay taxes to be charging you a penalty and interest for underpayment.