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  1. 07-11-2006, 07:34 PM #1
    tbs727
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    Thumbs down I cannot believe I did this!

    I got a letter from the state saying that I did not files taxes for 2002 or 2003. Since we haven't filed, they don't show that we paid any taxes either of those years so we owe around $6000. Now, I know that we should be able to file a late tax return and be able to credit for the taxes that we paid out of our paychecks, but the failure to pay penalty is about $700 for each year!!! Thats $1400 in penalties plus what we would otherwise have owed in taxes? How could I have been so stupid!!!?? I'm still cursing at myself.

    Has anyone else done this? By the time I got home and got the mail the offices had already closed, so now I will worry all night.

    This is on top of my crappy job that I am feeling guilty about quitting (although obviously now I am going to have to stay until I find another job) and trying to find the money to buy books and pay for tuition for DH to start school. I am so stressed, I think i'm going to have another beer.
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  2. 07-11-2006, 07:40 PM #2
    Darlene
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    No advice, just sending you a tax free hug.
    ~*Darlene*~
    Live Well~LaughOften~Love Much

    "Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around."
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  3. 07-11-2006, 07:44 PM #3
    baxjul
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    Big hugs here!!!!!!
    6 yr. Breast Cancer Survivor!
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  4. 07-11-2006, 09:19 PM #4
    Buckeye5
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    Hugs and chugs.LOL
    taking one day at a time, trying to get rid of debt!!
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  5. 07-11-2006, 10:09 PM #5
    JerryL
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    I'll have a beer too.
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  6. 07-11-2006, 10:46 PM #6
    Drgnfly423
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    I don't have any advice, but I can say that I'm sorry...and
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  7. 07-12-2006, 04:14 PM #7
    tbs727
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    I called the IRS this afternoon and got some good news. They are sending me the the forms I need to file for these tax years. Thankfully, the penalties will be adjusted when they take into consideration what we owe, if anything. I am very relieved. It may cost us $500, it may cost nothing, but at least it won't cost $6000! Good news. Thanks for the nice words everyone!
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  8. 07-12-2006, 05:52 PM #8
    ubumartin
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    Much better news. Hope it all works out for you!
    Nancy

    Mom to
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  9. 07-12-2006, 06:17 PM #9
    Missy
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    much better! good luck!
    ~~ Missy ~~

    Planting and raising an urban homestead in the middle of Downtown big city right at the foot of the Rocky Mountains!

    Zone 5 Colorado Springs, CO USA
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  10. 07-13-2006, 12:46 PM #10
    frugalfarmwife
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    Awww hugs, and yep been there and SWEATED it too, I'm a HORRIBLE procrastinator with some things and taxes give me the HEEBIE JEEBIES! Funny, now we get money back yearly but I STILL procrastinate EVERY SINGLE YEAR and get snappy and nasty from early March on.

    Glad the news isn't as bad as it could have been!

    kj
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  11. 07-13-2006, 07:12 PM #11
    kabin63
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    (Has anyone else done this? By the time I got home and got the mail the offices had already closed, so now I will worry all night. )



    Well, I never failed to file, but one year we owed $5,000 for Capital Gains tax. It took 2 1/2 or 3 years to pay it back, then just when I thought I had been blessed by a huge state return, and had it all paid off, my fault for doing the taxes, we ended up oweing another $800 for a dumb mistake I made when we filed. Geez, I thought we'd never get out of tax debt.

    I feel for you, but rest assured you are not the only one...... if you do owe anything, hopefully they will work with you if it's much, but doesn't sound like it will be. Maybe oyu'll be blessed by them oweing you money.

    Best Wishes!
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  12. 07-13-2006, 07:20 PM #12
    tbs727
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    =kabin63Maybe oyu'll be blessed by them oweing you money.

    Best Wishes!
    Thanks. Man, it sounds like you had quite an IRS experience. I'm glad to know I'm not the only one, but I'm sorry you had to deal with it.
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