New client. Hit with a personal assessment of $325,000 for 2016. Must have gotten a CP 2000 that he didn’t respond to.
The credit card processing company issued the 1099-K under his Social Security Number. All the credit card deposits were made to the corporate bank account. I have tied the bank deposits out to the 1099-K. The 1120 has enough gross receipts to cover the credit card deposits.
Credit card processor can’t correct the 1099-K because taxpayer switched companies and that account is now closed.
Ia a OIC-DATL the cleanest, easiest way to handle this?