At least that is what these people did: New IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That’s a 161% jump from the 2,833 comparable returns filed in 2004. Additionally, 4,224 of the over-$200,000 earners reported no worldwide income tax liability […]
The Internal Revenue Service is going to sue me for not paying enough taxes. At least, that’s what the email said that I received. However, since I already knew that the IRS does not send unsolicited emails out to people, it was pretty obvious that the email was a fraud. It had the official seal […]
For the first time that I can remember, I owed money to the IRS for 2007 for underpayment of taxes. Granted, I should have known better and I should have paid more attention, but it kind of snuck up on me in the last quarter of the year. As has been the case since I […]
So you are getting a tax refund, huh? Sounds great, right? Not really – it means you have been giving the government an interest-free loan all year…with your money. Although I try my best each year to come out neither ahead nor behind, sometimes it just doesn’t work out that way. Take for example tax […]
Well, our taxes are finally done…and we owe about $3,000 for our Federal return. Granted, this could have been really bad if I had not been setting a lot of money aside from my blogging income, but still – $3,000! There are a few reasons for owing this kind of money this year when normally […]
