The Evaporation of Money, Part II
Oct. 11th, 2003 10:01 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
figmoI just got off the phone with the bank. They say it's the CA Franchise Tax Board (FTB), aka "the state income tax people," putting a levy on my account.
My income taxes for 2000-2002 are still being worked on. I did a lot of day trading in those years, and E*Trade lost some of the transactions.
The FTB thinks I owe over $650k. My accountant says it's closer to $60k, which, while still alot, wouldn't kill me.
My next call out is going to be to my accountant. I called him last night and got his voice mail. OTOH, I've got to be at the station in just over an hour (I'm filling in this afternoon).
The bank says nothing can happen before Tuesday because Monday's a state holiday. The lady at the bank says there's only one good thing: They can't use this order to suck any more funds, so any further deposits will stay there -- at least till they put together Yet Another Levy.The FTB guy on my case starts work at 7am; the bank's Levy Dept. doesn't start work till 9am. You can guess what my Tuesday is going to be like.
Meanwhile, I'm stuck with only the money in my wallet and in my piggy bank till at least then.
My income taxes for 2000-2002 are still being worked on. I did a lot of day trading in those years, and E*Trade lost some of the transactions.
The FTB thinks I owe over $650k. My accountant says it's closer to $60k, which, while still alot, wouldn't kill me.
My next call out is going to be to my accountant. I called him last night and got his voice mail. OTOH, I've got to be at the station in just over an hour (I'm filling in this afternoon).
The bank says nothing can happen before Tuesday because Monday's a state holiday. The lady at the bank says there's only one good thing: They can't use this order to suck any more funds, so any further deposits will stay there -- at least till they put together Yet Another Levy.The FTB guy on my case starts work at 7am; the bank's Levy Dept. doesn't start work till 9am. You can guess what my Tuesday is going to be like.
Meanwhile, I'm stuck with only the money in my wallet and in my piggy bank till at least then.
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Date: 2003-10-11 05:28 pm (UTC)The reason the accountant hasn't yet filed the return is there are records E*Trade just plain lost. I have now learned, the hard way, why online delivery of documents sucks. I have no confirmation of some trades because they lost them. (This happened to someone I used to work with at BroadVision, so I know it's not just me.) Supposedly even the guy from the FTB groaned in understanding when my accountant said "E*Trade" to him.
When my accountant finally does my returns, he's going to have to explain why he can't account for some of the purchased stock that was sold, and it'll be easier if he has all his ducks layed out in a row, so to speak.
Easier for the accountant? I admit to some puzzlement why you are willing to tolerate considerable problems and inconvenience to make life easier for your hired help. What on earth is he waiting for? If the documents are lost, waiting will not recover them. The rest is just tedious documentation of which trades were not accounted for properly. It's work and you're paying him to do it. If he can't or won't do it in a timely manner, fire his ass and find someone else who can.
One approach might be an affadavit spelling out that you were a day-trader and stating which stocks you actually owned at time "A" -- where this time is after the misplaced stock trades.
Good luck.