Thursday, April 10, 2003

So I heard back from my accountant today about my taxes....and here's the sordid story....

I'm getting money back (which I will use to pay on the debt) however it will be a while before I can get it and here's why...

This accountant fucked up my 2000 tax return and he has to redo them totally. Because the 2000 return was fucked up, the IRS says I owe an additional $1300+ in taxes. Well it's all because we put the wrong tax form under my Schedule C (for my side business) when it should have gone on the 1040 and the IRS said I never claimed that salary on my return. Well I did just on the wrong form. So, on that tax return alone, I had to also shell out money for FICA Medicare and FICA Social Security since I had a profit and I had to pay in both the employer and employee portion of it...ANYWAY...I got a letter about this and I talked to the lady at the IRS and she said I just needed to refile the 2000 taxes with the money corrected and they will take care of the rest.

But, since my 2002 tax return will hit before the 2000 correction, the $1300+ I "owe" in taxes from 2000 will be deducted from my 2002 return (leaving me with about $150 from that return) and only when the 2000 return has been reprocessed (which it has to be....by hand no less) then they will go back and refund me that money plus any other money I am owed from 2000. And that can take MONTHS before I will get to see a dime. And it pisses me off....

But at least I will have some money to pay off the rest of my bills... :)
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