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02-14-2020, 08:36 PM | #46 |
Thread I will end you.......
Join Date: Apr 2007
Location: Kansas City, KS
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The guilt should be enough for weekly blowies for a while... (from the ta guy or your wife)
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Posts: 9,947
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02-14-2020, 08:42 PM | #47 |
He's Mahomie!
Join Date: Aug 2001
Location: Jax, FL
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Beats $60K. Put it on a card.
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Posts: 17,387
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02-14-2020, 08:51 PM | #48 |
Arrowhead Trail of Tears
Join Date: Oct 2012
Location: KansasCity
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payup quick
interest compounds daily also turbo tax efile |
Posts: 29,366
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02-14-2020, 08:57 PM | #49 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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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. |
Posts: 58,014
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02-14-2020, 08:59 PM | #50 |
Elway be drinkin' again
Join Date: Dec 2017
Location: Colorado USA
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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? |
Posts: 4,966
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02-14-2020, 09:02 PM | #51 | |
Elway be drinkin' again
Join Date: Dec 2017
Location: Colorado USA
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Quote:
Pick my battles kind of deal |
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Posts: 4,966
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02-14-2020, 09:13 PM | #52 |
GDT Contributor
Join Date: Sep 2018
Location: *
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Get a CPA. Most tax preparers aren’t.
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Posts: 8,735
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02-14-2020, 09:32 PM | #53 |
Elway be drinkin' again
Join Date: Dec 2017
Location: Colorado USA
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Posts: 4,966
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02-14-2020, 09:41 PM | #54 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 58,014
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02-14-2020, 10:04 PM | #55 |
GDT Contributor
Join Date: Sep 2018
Location: *
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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.
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Posts: 8,735
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02-14-2020, 10:06 PM | #56 |
Veteran
Join Date: Jan 2019
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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.
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Posts: 1,531
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02-14-2020, 11:40 PM | #57 |
EvOlVeD
Join Date: Jun 2016
Location: Blue Mountains, Australia
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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 |
Posts: 8,417
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02-14-2020, 11:44 PM | #58 | |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Quote:
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Posts: 80,122
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02-15-2020, 12:05 AM | #59 |
Supporter
Join Date: Nov 2006
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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.
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Posts: 5,696
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02-15-2020, 12:08 AM | #60 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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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! |
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