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State Tax bill paid with 1099-A and Remittance Coupon

I owed over $1K in back Oklahoma state taxes and received a " final notice" from a law firm in OKC back in late September.  I didn't have the cash so I filled out the coupon and sent the Law firm a 1099-A and the coupon.  I received a certified letter from the Oklahoma Tax Commission.  I now owe $0 in taxes.  However, they did send a bill for $88 for late fees and penalties.  Success!!

9 Comments
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Grandpa Crude
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Congratulation, must feel better to have that out of your hair.

No doubt!   Just getting started.  I’ll continue to update my successes.  

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Bella Tarie
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When you sent the 1099a did you send them it to file or did you send them a form of one already filed?

The state taxes had been turned over to a law firm for collections.  They had sent a couple letters previously but the last letter stated “final notice” and demanded immediate payment.  So, I filled (typed) out a hard copy 1099A, OID, 1096, 1040V, with the letter they sent.  I sent this packet to the law firm.  In approximately 30 days I received a certified letter from the state tax commission with a coupon for the renaming balance- interest and penalties has incurred but the taxes owed was $0.  I mailed a check of $88.12 and the coupon within three days of receipt.   The tax commission also followed up on the third day with another certified letter and another coupon.   I resented it as well.  I confirmed the tax commission processed my check of $88.12 on that same third day.  I have not received any more info from that transaction. I have the copies I can upload if necessary. 


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Court
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In regards to the 1099a the lender, was the lender your name or the treasury name and address?

Lender:
United States Treasury
1111 Constitution Avenue NW
Washington DC 20224
US-Phone 800-829-1040

52-0907065

Borrower:
First-Middle: Last., Beneficiary
SSN#

Account Number: I put in the number listed on the bill

Description: OTC taxes

I typed all the info on both the 1099-A and the 1099-OID using the top form and voided the blank forms- I sent the whole form.   I endorsed the back of the 1099-A with the wetting signature in blue ink.  I sent blank 1096 and 1040V. I did not send a photo copied 1096. I ordered and received the 1096 from the treasury.  

Also, I typed the amount owed in box 4.  Box #2 contained an additional 5% which I mentioned in the cover letter to cover the firm’s expenses to process and file.  

Please understand that I also sent the remittance coupon provided by the law firm.  So, I don’t know which or both was successful.  Nevertheless, I now owe $0 in Oklahoma state taxes. 

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DarioLivingMan
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Congrats on getting those taxes paid!

Providing the 1040-V, 1096, 1099-A and OID hard copies likely helped a lot. I'm going to do that next time. Thank you for sharing 🙏

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JimWall
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Do you think it is better to wait till this action goes into collections, or deal with the tax board directly. Just asking, cause I just received a similar letter from California, state franchise tax board.

5 Answers
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George
Best Answer

Did anyone give you the answer?

I will think will be the same proses. 

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0
Best Answer

Norman, the answer to your question is a firm NO.  You're business is not the same number as your SSN. 

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Todd
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Mad love for grabblers - they just could not refrain from assessing you penalties/interest on a zero balance due. lol. The final result minimizes most of the disgusting taste they leave behind though

1 Comment
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No doubt. Like Chris always says "they'll collect...they'll collect".

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Coretta Koum
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Congrats!

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Anthony
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I Also think that you giving the law firm 5% created a fiduciary obligation to them to work in your best interest that was a smooth move thanks for the information and coaching Chris and Crew!!

3 Comments
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Perhaps. I’ll continue to use the same method.

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Noman Almarifawi
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I owe $58000 in loan I took For my Business ASP can I do that to pay it? That will be great. buy the way I'm 100% owner of this business.

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james hood
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Wonder if I should amend my LLC to show my Beneficiary name as the owner. If I did this could I then pay a business tax debt through a 1099-A?