Stressed over my Taxes

[CindyLou]

So I'm really stressed. I'm embarrassed to admit that I've been claiming too many exemptions and will probably owe on my 06 taxes which I've been putting off doing. I get chest pain just thinking about it!!! I have an appointment Tuesday at 3pm. I have a really good tax guy but I don't think he can even help me out of this one!!! I can't believe I did this. I kills me just to write this because I think I've been in denial! After all this bankruptcy stuff and now I put myself in this situation to possibly owe around $6000. AND to make matters worse I'll probably be in the same situation for 07. I am going to payroll tomorrow to change it to single and zero (I'm married) to hopefully try and make up some slack til the end of the year at least, but wow.....I know better. I know there is always a solution, but why does money always have to be so stressful? It just seems to never end.

[Bandit]

why does money always have to be so stressful? It just seems to never end.

It just is. Isn't it terrible? No matter which way you go it is stressful. Money is like the fruit of our labor back when they relied on a good crop and hoped for the cow to not get sick while the horse pulled the wagon. Only thing is the cow would eventually get sick and the grapes would sometimes freeze.

Your post reminds me of an old film I saw awhile back where the people on the farm traded for everything. There was never any cash involved for anything. If they needed a freezer they just traded a cow for the freezer. THEN, the IRS came to their property and tried to get them into the system we know today. It was so comical because the guy doing the taxes and audit could not put any figures into the forms because they would always say they did not work for money or buy things with money, everything was an object for trade. The father says, "Trading is better than money...no hard feelings that way."

The tax guy lost his marbles.

[Granny]

No he didn't. Bartering is also taxable. What you receive in a bartered transaction is income.

[CindyLou]

yea! isn't that sad! I have a friend that is a hair stylist and he does a lot of "black market" bartering for things like dental care, massages, bookkeeping, housekeeing....any type of services. But the IRS keeps an eye on those folkes more and more. Thanks for listening. I guess I'll see how it all comes out on Tues. I lookes at it again earlier and I think it may not look as bad as I initially thought. I think I might owe 3000 for 06 which I can do the payment plan for then I will prob owe about 6000 for 07 (even with add'l taken out) which I can with my bonus I will get in april.(hopefully...its not 100 percent of course) It will all be fine. It just all feels so panicky and overehelming to think about!!!!!

[Bandit]

LOL!
Sure it is but not if you have never beed taxed, declared money value on your property and if you are not in the system for how many cows and chickens you own. This is one reason they want ALL farm animals tagged with microchips that can be tracked by satellite.

You can barter all the cows til the cows come home and if you and what you own are not in the system you wont be taxed. It was not that long ago.

How much is his tractor worth and what did he pay for it? He paid ten cows and a truck load of corn five years ago. If none of that is on paper, he wont be taxed. They have to audit what he has NOW first, not what happened five years ago on what he does not have. If I have it correct, if you made under 3000 a year in the early 1900s, you were not taxed for anything by IRS...that was the allowance.

The orginal IRS tax was declared unconsitiutional clear up to the early 1900's and the tax for war. It was not until the 1950's that it really started going with professional employees to get the entire country under this tax. Today everyone born will pay from his first job forward and bartering will one day cease to exist. It was not always like that.

But what do I know. I am a permanent customer of the IRS for each and every penny. Til death do us part. *sigh*

[Bandit]

yea! isn't that sad! I have a friend that is a hair stylist and he does a lot of "black market" bartering for things like dental care, massages, bookkeeping, housekeeing....any type of services. But the IRS keeps an eye on those folkes more and more. Thanks for listening. I guess I'll see how it all comes out on Tues. I lookes at it again earlier and I think it may not look as bad as I initially thought. I think I might owe 3000 for 06 which I can do the payment plan for then I will prob owe about 6000 for 07 (even with add'l taken out) which I can with my bonus I will get in april.(hopefully...its not 100 percent of course) It will all be fine. It just all feels so panicky and overehelming to think about!!!!!

It is overwhelming. I wish the girl who cuts my hair could get me into that black market. I would not have to even think about BK then.

I panicked when I first heard about taking that silly course before you can file BK. Thinking it was going to be some expensive college course.
Tax is a big pain that can nip us in the butt when least expecting it, even if you are expecting it.

[robivi3]

Shall we dip into that whole Colonel House, Woodrow Wilson, Council on Foreign Relations "Signpost to Slavery" Birch Society deal? Well, I suppose just saying punishing people for making more dough sucks is good enough!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[AMISLANDER]

Don't feel bad. I just went into a payment plan for my 2004 taxes & just got what I owe for 2005...

You're not the only one. I guess another payment plan will be in the works.

I pay $100/mo. for my 2004 bill and probably the same will happen for 2005.

I hope it's not so bad when 2006 comes around!...

Any xtra cash I have will go to these payments just to try & pay down the bill...

well, there's always the FL lotto...one day my # will come in!

[CindyLou]

You sound like me being about 3 years behind!! I did 04 and 05 on the same day last year in November!! Then I am doing 06 on Tuesday and I didn't file an extenstion. Are you just doing like me and in denial???? I was lucky that for 04 and 05 I thought I owed but I have a really good tax guy and I ended up with small refunds. But I made a lot more money in 06 (for which I am thankful, of course) but my tax guy if good, not magic, so I am SURE I will owe. I am worried that I a start a payment plan for 06 taxes what will happen if I owe for 07? Will they re-work the plan for me? Is that what you are doing? Are they going to combine the two into one plan for you?

[AMISLANDER]

You sound like me being about 3 years behind!! I did 04 and 05 on the same day last year in November!! Then I am doing 06 on Tuesday and I didn't file an extenstion. Are you just doing like me and in denial???? I was lucky that for 04 and 05 I thought I owed but I have a really good tax guy and I ended up with small refunds. But I made a lot more money in 06 (for which I am thankful, of course) but my tax guy if good, not magic, so I am SURE I will owe. I am worried that I a start a payment plan for 06 taxes what will happen if I owe for 07? Will they re-work the plan for me? Is that what you are doing? Are they going to combine the two into one plan for you?

I guess I forgot to include some $ in my return. I know I have to deal with this but I know it can wait for the moment. My mom might take care of my second bill and I would then pay her instead of acruing the interest through the IRS. I don't even know what interest I'm paying for the first bill. I need to find out. I've just come to the conclusion that we live in a world where we'll always be paying on something.....but for real, I need to make the call & find out...

[Bandit]

Shall we dip into that whole Colonel House, Woodrow Wilson, Council on Foreign Relations "Signpost to Slavery" Birch Society deal? Well, I suppose just saying punishing people for making more dough sucks is good enough!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Now THAT is funny!!!!!!!!!!!