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west central Iowa | I traded some land a few years and did a 1031. When they efiled my return some how the IRS lost the supporting documentation for the 1031 exchange. So I got a bill for $250000 in the mail. My accountant eventually straightened it out, I got letters charging interest and adding penalties, but it never got to threats of property seizure. I got nervous and hired an attorney after a while, but I shouldn't have, it was just money wasted the accountant didn't charge anything extra for straightening it out. What does your accountant say? | |
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IRS frustration
