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YAY! Remember my prize-tax gripe?
If you recall, DH won a prize pack from a radio station last summer. We received a tax form saying it was valued at $700, so we had to pay taxes on it (which were surprisingly high, like $160). We added up the cost of everything we won and calculated that at most it was worth $250. DH contacted the radio station at the beginning of February to complain and they said they'd look into it.
DH received this email today:
I am VERY Sorry about the delay and confusion, but we FINALLY got an answer from Summerfest on the value of the prize and you were correct. It was valued only around $150. You should NOT have received a 1099 for this and I am very sorry you did. I understand this has been a major inconvenience, and we are very sorry for the situation. Our business department has spoken with our Corporate Finance and they will be issuing you a CORRECTED 1099 for a value of $0. If you don't get the corrected 1099 within a few weeks please let me know. You don't have to wait for the new 1099 to do your taxes. When you do you taxes do not claim the 1099 you originally received, or the $0 1099, but definitely keep both for your records.
I am truly sorry for the confusion and mix up. We will be putting a Q101 prize pack in the mail for you this week as an apology! Please know the person who originally fulfilled your prize and submitted the wrong value no longer works here for reasons very similar to this situation. I really appreciate your patience and understanding in this matter. Please let me know if you have ANY further questions.
Which means now we get to file and get our refund. Whoop-whoop!
Re: YAY! Remember my prize-tax gripe?
Getting fit for IVF!
Blog Sale
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I'm glad that got resolved! Fingers crossed that the prize pack isn't just crap!
Lexi the calendar girl? I bet I know a few cops that would love to hang her in their office.