ATG
Banned
+5,233|6818|Global Command
So, after pops died as the last standing officer of our tiny little corporation, I got handed a giant accounting clusterfuck and a tax bill of $37k.

That is bad enough, but reviewing the line items I saw a unpaid balance of 0.16 from form 940 year 2007 and the interest on sixteen cents is $376.28. I have never seen any issue on my desk regarding after 2k in lawyers bills. They show one return unpaid that I have paid twice and can prove.

They threaten to levy, which means they just clean you out. A payment plan is probable but I have no work this week and no receivables.

My experience is that the feds are bumbling fools, yet have the power to kill and destroy, disrupting your life in a whirlwind off agony.
Agent_Dung_Bomb
Member
+302|7025|Salt Lake City

So 16 cents turned into $376.28 in just 11-12 years?  That sounds like loan shark level interest rates that were compounded daily.
Pug
UR father's brother's nephew's former roommate
+652|6831|Texas - Bigger than France

ATG wrote:

So, after pops died as the last standing officer of our tiny little corporation, I got handed a giant accounting clusterfuck and a tax bill of $37k.

That is bad enough, but reviewing the line items I saw a unpaid balance of 0.16 from form 940 year 2007 and the interest on sixteen cents is $376.28. I have never seen any issue on my desk regarding after 2k in lawyers bills. They show one return unpaid that I have paid twice and can prove.

They threaten to levy, which means they just clean you out. A payment plan is probable but I have no work this week and no receivables.

My experience is that the feds are bumbling fools, yet have the power to kill and destroy, disrupting your life in a whirlwind off agony.
PM me if you want some free advice/include specifics

Last edited by Pug (2009-08-04 10:58:06)

ATG
Banned
+5,233|6818|Global Command

Agent_Dung_Bomb wrote:

So 16 cents turned into $376.28 in just 11-12 years?  That sounds like loan shark level interest rates that were compounded daily.
2 years.
Agent_Dung_Bomb
Member
+302|7025|Salt Lake City

ATG wrote:

Agent_Dung_Bomb wrote:

So 16 cents turned into $376.28 in just 11-12 years?  That sounds like loan shark level interest rates that were compounded daily.
2 years.
Sorry, my bad.  I read that as 1997.  Wow, that's more like payday loan interest rate compounded daily.
Stubbee
Religions Hate Facts, Questions and Doubts
+223|7032|Reality
Might include penalties?
The US economy is a giant Ponzi scheme. And 'to big to fail' is code speak for 'niahnahniahniahnah 99 percenters'
ATG
Banned
+5,233|6818|Global Command
Nope
nickb64
formerly from OC (it's EXACTLY like on tv)[truth]
+77|5900|Greatest Nation on Earth(USA)

ATG wrote:

That is bad enough, but reviewing the line items I saw a unpaid balance of 0.16 from form 940 year 2007 and the interest on sixteen cents is $376.28.
Now that is some serious nitpicking...

$0.16 turning into >$300 is one fuc**d up interest rate.

IRS wrote:

"Oh my God, $.16, how will we ever survive!!!"
Turquoise
O Canada
+1,596|6694|North Carolina
The IRS rapes the little guy because he can't afford to fight back.
Mr.Dooomed
Find your center.
+752|6617

Happened to my Father in the 80's. The way the IRS and Federal Reserve work, should be considered treason.
Nature is a powerful force. Those who seek to subdue nature, never do so permanently.
mcgid1
Meh...
+129|7005|Austin, TX/San Antonio, TX
Still trying to figure out how $.16 becomes nearly $400 in 2 years.  Maybe I should ask some ditzy blond chick, they're already horrible at math and are capable of preforming illogical leaps of logic that no one, except the IRS is able to follow.
Pug
UR father's brother's nephew's former roommate
+652|6831|Texas - Bigger than France
Seems like if you can prove you paid it....

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