I owe how much to the IRS?

[LongHorn]

They'll wait till the penalty's are worth the trip out to get you, LOL.


Me I do Single 0 the whole year and collect my money from uncle sammy at the end of the year. I do not wish to pay ever.

Your paying, just in advance! Your so nice to donate to extra interest to the spend thrift congresses coffers.

 

[BrockGrimes]

Your paying, just in advance! Your so nice to donate to extra interest to the spend thrift congresses coffers.

True they get to use the extra interest during the year.
But I still get my money back and I still don't pay extra.

 

[LongHorn]

True they get to use the extra interest during the year.
But I still get my money back and I still don't pay extra.

You pay more when you give up the interest, sure maybe not much depending on your financial situation.
But it's more, but maybe it's not worth the hassle to you.

 

[KenB]

I'm a little skeptical of the 4 cent thing. Federal Income Tax form numbers are rounded to the nearest dollar. The perfect return is when you owe them $.49, cause that drops to zero. Oh, and they do pay interest on late refunds. The catch there is you have to file for it within 3 years of the original due date - or you donated it. Saw the other day that there is over a billion in 2006 refunds waiting to be claimed. Penalties only apply if you owe.
I've been doing tax prep as a sideline for about 15 years (that is not a plug, I've got all the clients I need), and have been-there-done-that on a whole lot of tax problems. One of the biggest problems with the tax code is that it is used by the politicians to cater to special interest groups. For example, a union painter, who is required to wear white overalls, can't deduct the cost of that clothing, but a professional entertainer can deduct the cost of their clothing purchased for their work. Want to hazard a guess as to which actor was president when that was put in?

 

[LongHorn]

I'm a little skeptical of the 4 cent thing. Federal Income Tax form numbers are rounded to the nearest dollar. The perfect return is when you owe them $.49, cause that drops to zero. Oh, and they do pay interest on late refunds. The catch there is you have to file for it within 3 years of the original due date - or you donated it. Saw the other day that there is over a billion in 2006 refunds waiting to be claimed. Penalties only apply if you owe.
I've been doing tax prep as a sideline for about 15 years (that is not a plug, I've got all the clients I need), and have been-there-done-that on a whole lot of tax problems. One of the biggest problems with the tax code is that it is used by the politicians to cater to special interest groups. For example, a union painter, who is required to wear white overalls, can't deduct the cost of that clothing, but a professional entertainer can deduct the cost of their clothing purchased for their work. Want to hazard a guess as to which actor was president when that was put in?

So your saying we need to elect a painter president.

 

[KenB]

Hell no, I want an old guy on Social Security with a CJ addiction!!

Any income diverted to restoration/repair/acquisition of a CJ should be fully deductible and an equal amount added to the refund.

 

[LongHorn]

Hell no, I want an old guy on Social Security with a CJ addiction!!

Any income diverted to restoration/repair/acquisition of a CJ should be fully deductible and an equal amount added to the refund.

HELL Yeah!!!!!:rock:

 

[BrockGrimes]

That's why Ronny drove a 6

 

[BrockGrimes]

maybe it's not worth the hassle to you.

Sometimes easy is worth the cost.
Kinda like the right to for the job.

 

[LongHorn]

That's why Ronny drove a 6

He drove a "6" & a "8"!
Boy did he know his Jeeps!