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Form 1099-LTC for Allentown Pennsylvania: What You Should Know

In the event that I receive the form below, the tax information contained on the form will enable you to make a determination that I have failed to meet my reporting obligations, and that, in the opinion of the tax advisor, I am in fact being treated as a business entity. If so, I agree not to challenge or contest any Tax Court ruling against me with respect to such assignment. I understand that my failure to file Form 1099 may subject me to criminal prosecution. I agree to pay to Penn Treaty the full amount of any loss that I may incur upon the release or abandonment of Penn Treaty, and I agree to the following statement: This notice is to inform you of the tax consequences of your failure to file an income tax return on a current tax return without claiming a deduction, deduction, exemption or other tax savings. As such, I would request that you provide complete and specific details for each of the following tax deductions, exemptions, credits, or other credits you claim for any taxable year of non-employee compensation you receive (such as tax payments, employee bonuses, etc) and that you provide us with a brief summary of how the amounts of each tax-free or reduced deduction, exemption, credit or other credit reduce your tax liability. We do not need the taxpayer's explanation of all tax-free or reduced deductions, exemptions, credits or other credits. We need only an explanation as to the basis of each tax reduction. Furthermore, we do not need to know how the amounts were calculated. I believe this notice is required by law for the purpose of the Act. Please provide me with the correct taxpayer identification Number (MAIN) number for this contact.

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