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Jogeephus
Well-known member
I wish I could say the same but I had to file my first extension this year. Not my fault but thanks to Wachovia and two other outfits screwing up their statements I had no choice. I have been really depressed this year as I have worked my tail off and it seemed I was getting nowhere. Found out why after calling the accountant and telling him that we would have to file an extension. He said no problem but he would have to see whether or not I owed money so we could send some to prevent penalties and interest. He called me back and said there would be no problem as I had paid SUBSTANTIALLY more taxes than I owed this year. :shock: 
No dung sherlock. I could have told them this all year. I knew something was wrong cause they were taking most everything I earned and it made for a stressful depressing year. Somebody had ESTIMATED my estimated quarterly tax liability wrong. But I guess the IRS will send me an interest check along with my refund for the SUBSTANTIAL amount of overpayment I made. What type penalty do you think I need to levy on them?
No dung sherlock. I could have told them this all year. I knew something was wrong cause they were taking most everything I earned and it made for a stressful depressing year. Somebody had ESTIMATED my estimated quarterly tax liability wrong. But I guess the IRS will send me an interest check along with my refund for the SUBSTANTIAL amount of overpayment I made. What type penalty do you think I need to levy on them?
KenB
Well-known member
Jogeephus":2zjzq1rz said:I wish I could say the same but I had to file my first extension this year. Not my fault but thanks to Wachovia and two other outfits screwing up their statements I had no choice. I have been really depressed this year as I have worked my tail off and it seemed I was getting nowhere. Found out why after calling the accountant and telling him that we would have to file an extension. He said no problem but he would have to see whether or not I owed money so we could send some to prevent penalties and interest. He called me back and said there would be no problem as I had paid SUBSTANTIALLY more taxes than I owed this year. :shock:
I would say that that Somebody is the one to levy the penalty against.
But I guess the IRS will send me an interest check along with my refund for the SUBSTANTIAL amount of overpayment I made. What type penalty do you think I need to levy on them?
bigbull338
Well-known member
this year the taxes got in an done on time for once.most year we get tied up with other things an file an extension.
TexasBred
Well-known member
CPA filed ours electronically over a month ago. Small refund has been spent long ago. I think I was able to full up the truck and car "once" with it as well as buy a little farm diesel. lol
TexasBred
Well-known member
TNMasterBeefProducer":12l8ft0r said:
I make sure I never overpay that much. Got better uses for my money during the year.
TREY-L
Well-known member
TexasBred":gdkxvbff said:
Amen!
(really loud amen from the back row)
bigbull338
Well-known member
and if you got a great tax man all you have to pay in is a lil social security.
Crowderfarms
Well-known member
I used Jack Schitt and Associates, CPA, and had to pay out over 18,000. If someone will please forward me the recipe of "How to get $$ back from paying taxes" please send me an autographed copy.I guess I just fed and clothed a bunch of flea bitten Louses that need it more than me...I'll mind my MANNER and stop now.TNMasterBeefProducer":1sjyp5gu said:
KenB
Well-known member
Crowderfarms":1823lwhz said:
I'll bet quite a bit of your taxes went to keep you safe, pay the interest on our debt, and a little to help put ethanol in our gas.
Jim62
Well-known member
I screwed up on an IRA withdrawal, and it made it look like I had a lot of income last year. Got to pay an additional $4000 for last year, AND $4000 in estimate payments for this year. Sure tightened things up around here.
On the brighter side, when I file this year's return, I'll get it all back (the $4000 estimated) and probably a bit more. My main aim when dealing with IRS is to keep them out of my business as much as possible.
Is that why they call us "sheeple" ??
On the brighter side, when I file this year's return, I'll get it all back (the $4000 estimated) and probably a bit more. My main aim when dealing with IRS is to keep them out of my business as much as possible.
Is that why they call us "sheeple" ??
hurleyjd
Well-known member
Crowderfarms":dqa7akvx said:
Due to some captial gains that I was not planning on we sent the IRS a check for a litle over $25000. Most other years ours is about about $4500 a year. Crowder just think how much you and I may have helped out all of the commodity farmers. Looks as if they have found a way to farm the government, but wait the government is us go think about that.
Susie David
Well-known member
Our accountant always seems to have us operating at a loss but haven't had to pay since we started using him. Check was sent back, my fault for not checking the address on the 1040. Was sent to the old address which is covered by a freeway....not the farm just the road where our box was located.
New access road, new address, freeway in our back yard....getting time to really retire!
Dave Mc
New access road, new address, freeway in our back yard....getting time to really retire!
Dave Mc
1982vett
Well-known member
Jim62":2sefquhk said:
I don't see the use in paying the extra estimated tax if you are going to get it back. As long as you have paid enough estimated tax during the year to cover your actual tax bill, reducing the estimated payment will not trigger a penalty. Sending the IRS an extra $4000 is just giving the government an interest free loan. But do whatever makes you comfortable.
Jim62
Well-known member
You're absolutely right about that. The tax guy gave me a little worksheet that will work to estimate the estimate. Need to check that out before the next installment is due. Other than this past year, I usually just about come out even. Gotta pay more attention.
