As long as you withheld 90% of your tax liability for 2024 you will not incur any penalties or interest.
Any CPAs up in here? Estimated tax question
- Thread starter ruxCYtable
- Start date
My uncle did that for a while... he got a 4 year stay in Leavenworth Kansas. 3 squares a day and a roof over your head... what more could you want?
I am in the process of helping a High School classmate catch up on his, he hasn't filed since 2017.
If you've withheld anywhere close to that, the penalties and interest aren't horrible.
Yeah, that wasn't an option for me. Changed jobs less than a year ago and everything is in an IRA now.
I vote that anytime one of our resident professionals (CPAs, lawyers, doctors, etc.) thoroughly answer questions on here we should require a $10 donation to We Will as payment.
Plus I’d like to send invoices to the chucklefucks in the cave when I spend 15 minutes writing good faith measured legal analysis/caselaw….
Or maybe I should just stop doing that…
No, no! THEY are wrong! Not me!
So any professional advice such as lawn care and deck building and such also?
I feel like i have answered a lot so start sending Blum some $$$ lol
Not really anything serious. If any that are older than 3 years late have a refund he won't get the refund. If he owes on them he will have interest and penalties.
I always thought it was Mrs. Hines. Now I’m wondering if she was lying when she said that man watching in the corner was husband
Had a side hustle going a few years ago so I created an LLC. I paid the taxes for the business income but didn’t file the right form. No idea I did it wrong until…
2 years later I get a letter from the IRS saying “hey, you didn’t file properly two years ago. You owe us a $5,000 fine.”
This was 2020 so basically impossible to get them on the phone. I tried and tried and tried.
A couple weeks later I get another letter that says “you still owe us $5,000. And now we’re adding another $250. And if you don’t pay in 30 days we’re putting a lien on your property.”
By the grace of God I got someone on the phone. She fixed it in 5 minutes. Everything was forgiven and cleared from the record.
Never been so stressed. I’ll hire a CPA for the rest of my life.
TDLR: The IRS don't F around.
2 years later I get a letter from the IRS saying “hey, you didn’t file properly two years ago. You owe us a $5,000 fine.”
This was 2020 so basically impossible to get them on the phone. I tried and tried and tried.
A couple weeks later I get another letter that says “you still owe us $5,000. And now we’re adding another $250. And if you don’t pay in 30 days we’re putting a lien on your property.”
By the grace of God I got someone on the phone. She fixed it in 5 minutes. Everything was forgiven and cleared from the record.
Never been so stressed. I’ll hire a CPA for the rest of my life.
TDLR: The IRS don't F around.
