#1
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beat: i suck at my taxes apparently
got a letter from IRS about my 2005 taxes, apparently i missed a 1099 for like 10k. now i owe like $3k. don't ask how i did this. it's because i'm stoop id. self emplyed. business sucks right now.
anyone ever set up payments with the IRS? |
#2
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Re: beat: i suck at my taxes apparently
I had the same thing happen to me... lost some gambling 1099's. Set up a payment plan on the 2K I owed. They accepted $100 a month. Took the rest out of my tax return this year. No worries
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#3
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Re: beat: i suck at my taxes apparently
They're pretty reasonable about this stuff. I had a screwup a few years ago and owed an extra 8k - gave the a grand a month w/o problems. They only get pissed if you try to hide.
MM MD |
#4
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Re: beat: i suck at my taxes apparently
The Feds are cool, but the State is a bitch.
I set up a payment plan about 10 years ago. Although the guy I talked to (with the Feds) was a condescending prick, he was ultimately accommodating. The State, however, automatically slapped a lien on me- instantly blemishing my credit. Apparently this is standard practice in Michigan. YMMV. |
#5
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Re: beat: i suck at my taxes apparently
Screw 'em. I hear debtor's prison isn't so bad these days.
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#6
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Re: beat: i suck at my taxes apparently
Dont be cheap, hire an business accountant. It's got to be cheaper than interest and penalities and jail.
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#7
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Re: beat: i suck at my taxes apparently
[ QUOTE ]
got a letter from IRS about my 2005 taxes, apparently i missed a 1099 for like 10k. now i owe like $3k. don't ask how i did this. it's because i'm stoop id. self emplyed. business sucks right now. anyone ever set up payments with the IRS? [/ QUOTE ] I had to set up a payment plan once. Had to re-file for 2004 but in the meantime they wanted their money they thought I owed. They just asked me how much I could pay per month. I said $400 and they said great. I think I could have said almost anything. I never paid anything though because I refiled before a bill was due. |
#8
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Re: beat: i suck at my taxes apparently
[ QUOTE ]
Dont be cheap, hire an business accountant. It's got to be cheaper than interest and penalities and jail. [/ QUOTE ] i have one, but missing a 1099 was completely my fault. he was gone all day. |
#9
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Re: beat: i suck at my taxes apparently
A similar thing happened to me with the 1099 except it was the incompetent accountant's fault. Never hire somebody just because they're relatives. [img]/images/graemlins/frown.gif[/img]
Like ncboiler said the IRS will pretty much take anything that sounds fair. As long as you are making a reasonable and sincere attempt to pay them they wont F you over. |
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