IRS

Can't reach IRS? Claimyr connects you to a live IRS agent in minutes.

Claimyr is a pay-as-you-go service. We do not charge a recurring subscription.



Fox KTVUABC 7CBSSan Francisco Chronicle

Using Claimyr will:

  • Connect you to a human agent at the IRS
  • Skip the long phone menu
  • Call the correct department
  • Redial until on hold
  • Forward a call to your phone with reduced hold time
  • Give you free callbacks if the IRS drops your call

If I could give 10 stars I would

If I could give 10 stars I would If I could give 10 stars I would Such an amazing service so needed during the times when EDD almost never picks up Claimyr gets me on the phone with EDD every time without fail faster. A much needed service without Claimyr I would have never received the payment I needed to support me during my postpartum recovery. Thank you so much Claimyr!


Really made a difference

Really made a difference, save me time and energy from going to a local office for making the call.


Worth not wasting your time calling for hours.

Was a bit nervous or untrusting at first, but my calls went thru. First time the wait was a bit long but their customer chat line on their page was helpful and put me at ease that I would receive my call. Today my call dropped because of EDD and Claimyr heard my concern on the same chat and another call was made within the hour.


An incredibly helpful service

An incredibly helpful service! Got me connected to a CA EDD agent without major hassle (outside of EDD's agents dropping calls – which Claimyr has free protection for). If you need to file a new claim and can't do it online, pay the $ to Claimyr to get the process started. Absolutely worth it!


Consistent,frustration free, quality Service.

Used this service a couple times now. Before I'd call 200 times in less than a weak frustrated as can be. But using claimyr with a couple hours of waiting i was on the line with an representative or on hold. Dropped a couple times but each reconnected not long after and was mission accomplished, thanks to Claimyr.


IT WORKS!! Not a scam!

I tried for weeks to get thru to EDD PFL program with no luck. I gave this a try thinking it may be a scam. OMG! It worked and They got thru within an hour and my claim is going to finally get paid!! I upgraded to the $60 call. Best $60 spent!

Read all of our Trustpilot reviews


Ask the community...

  • DO post questions about your issues.
  • DO answer questions and support each other.
  • DO post tips & tricks to help folks.
  • DO NOT post call problems here - there is a support tab at the top for that :)

IRC 334: Can parent corporations choose the cost basis treatment when liquidating a subsidiary?

I'm diving deep into a corporate tax issue regarding parent-subsidiary liquidations. Specifically, I'm looking at situations where a parent company completely liquidates a wholly owned subsidiary under IRC 332(b) and 1504(a)(2). My main confusion is about how the basis of property gets determined under IRC 334(b) when these assets transfer to the parent. From my research, it seems like when a parent corporation completely liquidates its subsidiary, there are two possible paths for handling the cost basis: 1. The subsidiary could recognize capital gains at distribution time for the increased cost basis of assets transferred to the parent. This gain would be calculated as the current fair market value minus the original cost basis of those assets. 2. Alternatively, the parent corporation could receive the subsidiary's assets completely tax-free, but would keep their original cost basis instead of using their current fair market value. This would make the asset transfer a non-taxable event for both companies, but the parent would accept the assets at their (potentially lower) original cost basis rather than FMV. What I really need clarity on is: 1. Is my understanding of IRC 334(b) actually correct? 2. Does the parent corporation genuinely have a CHOICE between these options? Or is one treatment mandatory in this scenario? Any insights from corporate tax specialists would be super helpful!

Emma Wilson

•

I think everyone's overcomplicating this. IRC 334(b)(1) is pretty clear - in a 332 liquidation, the basis of property received by the parent corporation is the same as it was in the hands of the distributing corporation. No choices, no elections, just a straightforward carryover basis rule. The parent might have choices about HOW to structure the transaction in the first place (like whether to qualify for 332 treatment), but once you're in 332 territory, the basis rules in 334(b) are fixed.

0 coins

Malik Davis

•

But what about Section 336(e)? Doesn't that election let you treat the liquidation differently for basis purposes? I thought that gave corporations some flexibility in how assets are valued during liquidation.

0 coins

Emma Wilson

•

Good question about 336(e). That election is different - it applies to certain stock dispositions, not to the liquidation itself. A 336(e) election can apply when a corporation sells stock of a subsidiary, and it essentially treats the transaction as an asset sale rather than a stock sale. But in a straight 332 liquidation where the parent is receiving assets directly from its subsidiary, 334(b)(1) controls and mandates carryover basis. The flexibility you're thinking about might relate to planning opportunities before the liquidation, but not to the basis determination once you're in a qualifying 332 liquidation.

0 coins

Speaking from experience, the original poster should be extremely careful about relying on forum advice for something this complex. I made that mistake with a similar corporate liquidation scenario last year. I recommend consulting a corporate tax specialist because these transactions have many moving parts beyond just the basic code provisions. Things like E&P, previously taxed income, loss disallowance rules, etc., can all affect the overall tax results even if the basic carryover basis rule is straightforward.

0 coins

Ravi Gupta

•

Totally agree. My company did a subsidiary liquidation last year and we got caught by the built-in loss limitations we didn't know about. Cost us a fortune. Would have been worth paying a specialist!

0 coins

Has anyone else had their 1099-R coded as a "1" instead of "G" for a rollover? The investment company told me they are required to code it as "1" because the check was made out to me (even though it was "for benefit of" my new IRA). This seems wrong - now it looks like I took an early distribution!

0 coins

Caden Turner

•

Yes! This happened to me too. They coded mine as a "7" (I'm over 59.5) even though it was definitely a rollover. My tax guy said the important thing is to mark it as a rollover when entering it into tax software. He said the IRS reconciles this with the 5498 form your receiving institution files showing the money went into another IRA.

0 coins

Thanks for confirming! That makes me feel better. I didn't realize the receiving institution files a Form 5498 that the IRS can match to my rollover. That makes sense that there would be a paper trail on both ends. I've been keeping all my documentation just in case, but it's good to know there's an additional safeguard in the system.

0 coins

One thing nobody mentioned - if you're doing a rollover where they send you the check, make sure they DON'T withhold taxes! My company withheld 20% automatically and I had to come up with that extra money out of pocket to complete the full rollover amount within 60 days. Such a pain.

0 coins

Harmony Love

•

Oof, that's a really good point. I had the same issue with a 401k rollover (not an IRA). Had to scramble to find extra cash to make up the withheld amount. Then had to wait for the tax refund the following year to get that withheld money back.

0 coins

StarStrider

•

I'm a bit confused about everyone saying the OP has rights here. If you sold your ownership and are completely out of the business, isn't it the current owner's problem now? When I sold my share of a business, I was just given a final K-1 and that was that.

0 coins

The key difference is that OP was a 50% owner for the ENTIRE year in question. It's not about current ownership - it's about who had ownership during the tax period being filed. The business operations during that year were under both partners, so both should have input on how those operations are reported to the IRS.

0 coins

Sofia Torres

•

Don't forget that you can always file Form 8082 (Notice of Inconsistent Treatment) if you disagree with how the partnership return was filed. This lets you take a position on your personal return that's different from what's reported on your K-1. It's not ideal, but it's a fallback option if your ex-partner refuses to cooperate.

0 coins

Wouldn't filing an 8082 potentially trigger an audit though? I've always heard this form raises red flags with the IRS.

0 coins

Sofia Torres

•

Filing Form 8082 doesn't automatically trigger an audit, but it does increase the chances of your return getting a closer look. However, that increased scrutiny is often limited to the specific items you've reported inconsistently, not your entire return. The important thing is to have solid documentation supporting your position. If you're right on the merits and can back up your treatment with records and tax law, an audit shouldn't be a major concern. Many tax professionals consider it better to file an 8082 than to report income or deductions incorrectly just to match an improper K-1. The penalty for failing to file an 8082 when required can be substantial ($50 per inconsistency), plus any additional penalties if the inconsistency results in understating your tax.

0 coins

Carmen Flores

•

Just throwing this out there - has anyone checked if they entered a different filing status between 2021 and 2022? I got the same IND-031-04 error because I filed as Single in 2021 but Head of Household in 2022, and somehow that was causing conflicts with the way I entered my prior year AGI. My tax preparer had to call the IRS to sort it out.

0 coins

Andre Dubois

•

I'm having this exact issue! Filed as Married Filing Jointly last year but now I'm divorced and filing as Single. Getting rejected with IND-031-04. Did changing the filing status alone fix your problem or was there something specific your preparer had to do?

0 coins

Carmen Flores

•

The filing status change itself wasn't actually the problem - it was how the AGI was being validated. When your filing status changes, you still need to use the exact AGI from your previous return, but the system sometimes gets confused about how to match your identity with the different status. My preparer had the IRS verify my identity using additional information beyond just the AGI - they confirmed my date of birth, address, and the last 8 digits of my previous year's return. After they manually verified me in their system, I was able to e-file without issues. The rep also mentioned that entering $0 as the prior year AGI sometimes works as a bypass when there are filing status changes, but that wasn't successful in my case.

0 coins

CyberSamurai

•

Has anyone tried using the IRS online account system to verify their exact AGI instead of relying on tax documents? I had this same issue and discovered the AGI shown in my online IRS account was actually $34 different from what my tax software showed for my 2021 return due to some adjustment the IRS made after processing. Once I used the exact AGI from the IRS account, my return was accepted immediately.

0 coins

This is actually really smart. I didn't even think to check my IRS online account. Where exactly in the account can you find your official AGI? I'm logging in now but there's so many different sections.

0 coins

CyberSamurai

•

Look for the "Tax Records" section after you log in. Then select "Transcripts" and request a "Return Transcript" for 2021. The AGI will be clearly labeled on that transcript. If you don't see it right away, search for "Adjusted Gross Income" on the page or look for line 11 from Form 1040. Sometimes the IRS makes small adjustments to returns after processing them, which can create differences between what your tax software shows and what the IRS has on record. These adjustments might be for math corrections, misapplied payments, or other technical reasons. The transcript shows exactly what's in their system, which is what the validation is checking against.

0 coins

Hit with a $10,000 IRS penalty for missing form 3250-A (Return of Foreign Trust) - help!

I'm completely freaking out right now. Just got slapped with a $10,000 penalty from the IRS for supposedly not submitting my form 3250-A (Return of Foreign Trust). Here's the thing though - I definitely completed this form and gave it to my company's tax team to submit on my behalf. I even have written confirmation that they would handle it for me! Now I'm stuck with this massive fine and I don't know what happened. Either my company's tax people never sent it, it got lost in transit, or the IRS misplaced it on their end. I'm trying to figure out if the IRS will consider this a reasonable explanation to contest the penalty. I've heard rumors that they don't really care about who's at fault - just that they didn't receive the form. Regardless, I'm the one stuck with this penalty. My company's tax department claims they have proof the 3250 and 3250-A forms were sent to the IRS and they're drafting a response letter. The front of the notice specifically states the 3250-A wasn't received, but the back mentions something about "incorrect or incomplete information" - not sure if that's just standard language they include on all notices. I've asked our tax team to double-check their copy of my 3250-A for any possible errors while we wait for the IRS response. Has anyone dealt with this situation before? What are my chances of getting this penalty abated? I'm seriously stressed about this $10,000 hanging over my head.

Sofia Morales

•

If your tax attorneys have proof the forms were sent, you should be fine eventually, but prepare for a long battle. The IRS is notorious for losing documents, even when they're delivered with signature confirmation. I had a similar situation with a different form last year. What worked for me was having my tax professional send a formal protest letter with: 1) A copy of the original form that was submitted 2) Proof of mailing (USPS tracking showing delivery) 3) A formal request for abatement citing "reasonable cause" 4) Reference to Internal Revenue Manual 20.1.1.3.2 which covers reasonable cause criteria The penalty was eventually removed but it took almost 7 months of back and forth. Be prepared to be patient and keep meticulous records of all communications. And NEVER talk to the IRS directly without your tax attorney present.

0 coins

Dmitry Popov

•

Is the process any different if the form was actually incomplete rather than just lost? The back of OP's notice mentions incorrect information. My situation is similar but I'm pretty sure I messed up a section of my foreign trust reporting.

0 coins

Sofia Morales

•

For incomplete forms, the process is more complicated. The IRS is much less forgiving about errors than they are about delivery issues. If you knowingly submitted an incomplete form, you'll have a harder time proving reasonable cause. Your best option would be to immediately file a complete and correct form, then request abatement based on making a good faith attempt to comply, especially if this is your first time dealing with this form. Emphasize any complexity or confusion in the instructions that led to the error. If you relied on professional advice that resulted in the incomplete filing, that can also support reasonable cause.

0 coins

Ava Garcia

•

Check if your company's tax lawyers sent it certified mail with return receipt! If they did and have that receipt, your case is much stronger. The Form 3250-A penalties are insanely harsh but the IRS is actually reasonable about abating them when you can prove you attempted to comply. Also, ask your tax attorneys if they included a Form 843 (Claim for Refund and Request for Abatement) with their response to the IRS. That's the official form for requesting penalty abatement and is crucial for getting this resolved properly. One last thing - if this drags on, keep an eye on the collection deadline. The IRS can be slow processing abatement requests but quick to send accounts to collections. Make sure your attorneys request a formal collection hold while your case is being reviewed.

0 coins

StarSailor}

•

I made this exact mistake - didn't request a collection hold. Even with my abatement request under review, they sent me to collections and I had to deal with a whole separate department. Definitely make sure they formally pause collections while this is being sorted out!

0 coins

Prev1...42914292429342944295...5643Next