maughact
Level 4
10-21-2024
11:46 AM
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My client received an IRS bill for a 1099-NEC from a mortgage company. My client had a foreclosure and the payment reported on the 1099 was for a move out payment. Would this type of payment be subject to self-employment tax? I'm wondering if it's worth drafting a letter to IRS asking to wave that part of the tax?
Thanks