Discussion:1099 with incorrect ss

Like most of us I do not know all my clients info by memory but generally enough to recall something missing and this one I knew never had much interest income, they load up 401 k's as much as possible.

After reviewing file and letter I called him and told him what I found and he was stumped about interest income. Funny thing at first he thought spouse was holding out on him.

Anyway to make a long story short his Dad, whose taxes I prepare also, had put some money in a joint account at another bank due to better interest rate and it appears the names and SS #'s got turned around. Interest was reported on the Dad's return, he is one of these that lists all accounts and amounts but will not bring in statements but not sure I would have caught it anyway since the names are the same.

I have sent clients to the bank to attempt to get them to correct 1099 information and we are drafting a letter to IRS for explination.

What have been your experinces with getting a large bank to correct the 1099 information and yes their is a big difference in taxes between the 2 returns.

The question is whether you can disclose the info to son that you looked into dad's file, or disclose to dad that son got a letter from IRS.

The Dad then called me to find out what to do.

The Dad can be a "little confusing" at times and I am sure this is how it all happened

THANKS