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12 k + taxes due please help...

tag
Anonymous
Not applicable

Re: 12 k + taxes due please help...

Actually 12 kids the 2 oldest have gotten married 10 still at home but they claim 9 kids as dependants...  And yeah my dad is an owner operator I think part of it is that in 2005 he could claim 10 dependants  and then 2006 and 2007 he could only claim 9. 
Message 11 of 12
demi
Established Contributor

Re: 12 k + taxes due please help...

I owed a much smaller amount, around 3,400 from 2004...year I had back surgery and was out 6 months, was getting disability integrated with my pay, actually made more money...why, because not enough was withheld. Avoided it, IRS never did anything (even got a refund last year), but when it was obvious I was going with FHA for a loan knew I needed to take care of it. It was over 2000 on interest and penalties...which I paid (borrowed from 401k) and am in the process of appealing to have lowered (not heard anything, 2 months). Anyway, I do have to say, I have piece of mind. Not scared to get the mail, etc. I would urge anyone in the same situation to take care of it, the interest racks up really, really fast. In your fathers situation, I would recommend he get a professional to help.

Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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Message 12 of 12
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