For anyone who hasn't been going over every bank statement, billing, and tax document with a fine tooth comb... Wake up Call!

I just opened the equivalent of letter bomb. This year we took money out of the stock market (before it took its big dive this summer)... Now we receive our statement 1099 from the company which says we made nearly four hundred thousand dollars... WHAT?! WHERE is that money?!

So now we must trot down to the office of this young guy who all but wailed about how already Y2K compliant his company was in the summer of 1998 and point out to him that not only did we NOT make that kind of money, but we never even invested that kind of money... we will of course give him the option to save face by turning over the money to us....

Just a heads up warning...from this point forward, CHECK and DOUBLE-CHECK every financial statement that lands on your desk...

troubled and rich (in some computer's mind anyway)

-- Watcher (troubled@irs.com), January 26, 1999

Answers

Ask him to show you the check you cashed for $400,000. If he can't produce it, ask him to cut you a new one for that amount! I got statement yesterday, and I'm afraid to look now!

-- bardou (bardou@baloney.com), January 26, 1999.

YIKES!!!! This is one of my worst nightmares. Having to deal with this kind of crap is a pain. It took me 6 weeks to get my credit card renewed. They told me there was a plastic shortage at BANK ONE. What a crock. Good luck and keep us posted!!

-- Dave (dave22@concentric.net), January 26, 1999.

Watcher- you have brought up a good topic. I have a more detailed list of suggestions for 1999---->?

1. If you use charge cards, keep every receipt. Check the charges on your statements every month.

2. Reconcile you bank statement every month.

3. If your checks are returned every month, keep them.

4. Check your mortgage statements every month. Are they accurately reflecting your payments, balance, etc?

5. Keep all tax-related receipts as if you know that you will be audited next year. (if the IRS ever gets going again.... )

6. Check your paychecks; are they accurately calculating your taxes, insurance, overtime? (use your past checks for reference if you are unsure.

7. Establish a worksheet of your investments. (I understand that this assumes that you still have some) Each month (or quarter if appropriate), verify that interest, withdrawals, additions, etc. are being credited properly. 8. KEEP every statement that every bank, mortgage co., creditor, utility co., etc sends you.

9. Keep two copies of you tax records, in seperate places.

10. Keep every receipt for deposits, ATM w/d, etc. even after you reconcile.

-- Sue (conibear@gateway.net), January 26, 1999.

Amazing how Y2K can galvanize us into doing things we should be doing anyway. I ordered a credit report on myself and may repeat the exercise towards the end of the year. (I don't recall the URL, but it can be ordered over the Internet for apx. $29 plus handling to cover the 3 main credit bureaus.) Also, as I rearrange my investments this year, I'm securing from my (soon-to-be-former) brokers the capital gains info I will need for next year's tax returns in case 1099s get fouled up.

-- Brooks (brooksbie@hotmail.com), January 26, 1999.

Sue just convinced me to revert to pay everything by cash. My father in law still does it, I'll go have a chat with him and find out how he's doing it.

I need a secretary who'd follow me around all day to do what Sue proposes.

-- Chris (catsy@pond.com), January 26, 1999.

Chris-

If you do not want to "watch your records like a hawk" , paying in cash may be an alternative. However, I would not mail cash. Some people with no checking accounts pay with money orders. I obtained one at a post office once, for a fee. You can safely mail money orders.

-- Sue (conibear@gateway.net), January 26, 1999.

Got billed twice yesterday for refrigerator repairs from Sears; 635.00 times 2 equals one hell of an unexpected Sears bill.

Y2K related - maybe, probably not. But, it's starting.....

-- Robert A. Cook, PE (Kennesaw, GA) (cook.r@csaatl.com), January 27, 1999.