How does this even happen? This company handled the settlement of a sale of some property my sisters and I inherited. They did a good job of handling everything and working with our lawyer, However, they made a significant error at the conclusion of the process.
Unbelievably, they looked at an older form when creating our 1099s and submitted the wrong amount to the IRS. I spent much time trying to make the number reconcile, trying to determine where it had come from and what I was missing since this was my first real estate sale. Literally, eight hours a day, for at least a week, trying to figure out how to pay my taxes for the sale. Finally, I contacted them to ask how they determined the amount on the 1099s and they discovered their error.
Did they apologize? Nope! They replied "It appears the forms you all signed at closing were preliminary forms based on the first sales price of $..........." However, the forms that we signed at closing were actually included with the 1099s we received and show the correct final sale price.
It sounds to me that someone wasn't paying attention and made a mistake that could've created huge tax problems for me and my sisters. If it wasn't actually their fault, they should have apologized and let us know why it happened. For this reason, I'm giving them the lowest rating I can. read more