The guilt should be enough for weekly blowies for a while... (from the ta guy or your wife)

Beats $60K. Put it on a card.

payup quick

interest compounds daily

also turbo tax efile

Contact your tax preparer today.

Have them call the IRS on your behalf. They should forgive the penalty and interest. If not, your preparer should carry errors and omission insurance. I'd get them to cover the non-tax portion of the liability.

You're on the hook for the tax portion of the liability. If it is income tax (I imagine it is) and you can't swing the cash today the IRS is good about installment plans.

But I reiterate, make your preparer contact them. If you used some fly by night ****bag, find a better one and have them contact the IRS.

Good luck man.

Sucks.
My withholdings and estimated were short, wrote a check for the difference and penality.
They sent me another bill for 3k.
Snakes on a Plane
What ya gonna do?

Tractor dude makes sense. I said screw it and paid.
Pick my battles kind of deal

Get a CPA. Most tax preparers aren’t.

My tax preparer is a tax attorney. To keep the peace and not pay "let me look into it fees"
I caved.

Meh. There are good preparers that are Enrolled Agents or Certified Tax Preparers just as there can be shitty preparers that are Certified Public Accountants.

That may be. I’m a financial advisor and work with CPAs who don’t make mistakes like the one the OP described. You get what you pay for.

my gripe is a why do we have to do their job for them? if they are going to take taxes out of our income then they need to take the correct amount out the first time.

asking for a friend...
 

if the IRS makes no attempt to contact you for back taxes, what is the statute of limitations...

again, asking for a friend ROFL

I got a unexpected $5K tax bill last year. What can you do? The taxman will get his money one way or another.

I had our tax guy not do stuff correct for 3 years so they did an audit on the one year, found extra we owed and then audited 2 more years. Ended up owing 10k. Tried to fight it, my tax guy literally died during the process and the guy who took over his business refused to do anything with it. Eventually ended up needing to pay the whole thing. Fighting it just cost me more in interest, etc.

Good News and Bad News:

-Bad News is you still owe $4,000

-Good News is you can now PIIHB because she is so ravaged by guilt, she will do anything to get back in your good graces!

Strike while the iron's hot! :LOL: