This was supposed to be "Happy News".

But it's not.

Just now I went to pay my 2017 1040-ES quarterly estimated tax. This because I've gotten paid in the first quarter of this year.

But the IRS requires that I use information from a previous return to verify my identity. It allows one to use a tax year all the way back to 2011.

The last time I filed was for 2002. Either I was in Canada, or I did not make enough money to have to file, or I just flaked. The IRS never came after me about it as I think I was passing up some refunds.

They don't have an "I didn't file" option.

I guess I can file using the paper form, but that means I have to deal with getting a blank check from a credit union teller. This because I have the free "checking" account which does not include checks. I'll have to go to the credit union tomorrow on the way to work.

And it means I have to deal with printing the voucher at work, this because my printer has some clogged inkjet spurters.

And it means I'll have to go to the post office, this because someone occasionally steals the mail from my mailbox.

Maybe I just won't file.

Or maybe I'll file late.

[ Reply ]

Created by CoyoteBrown 1 year ago
[ 1.12 | 0.00 ] [#9007]

You are in luck! Trump will be defunding the IRS in the fall. By this time next year the IRS as an institution will cease to exist. Only States will be empowered to levy taxes and the Federal Government will tax the States proportionally. Next year will be the last time you will be required to file a Federal return. Your tax form will consist of a single page. It will be very simple. You will declare the profits and will pay a flat 25% of those profits. (Actually it will work out to about 23%). You will not be required to itemize or otherwise document your earnings it will be entirely on the honor system. If you do not have any profits or gains you pay no tax. You will have to keep records of course for a period of five years in case there are any questions. However many key industries will be exempt from filing. Credits like the EIC will no longer be available. You will no longer be able to deduct non-religious charitable contributions. People will be given a flat per person deduction and that is it. Losses and foreign business investments will not be counted. Like I said you simple estimate how much you made the previous year (net) and pay about 23% of that sum as tax.

You may not have to get an actual check. Your credit union may be able to supply you with the proper codes needed to fill out your form. This is a new age and electronic and paperless banking is a real thing. Physical checks are like horseless carriages. You know, you don't even have to sign or fill out a paper check at the grocery anymore? All they need is that barcode along the bottom. Basically what I'm saying is you need to TALK to people more. It's 2017 not 1967 and most of what you 'know' is no longer true.

For myself, I never carry cash except enough to cover tips and I haven't written a check in twenty years, even though I have a checking account. I use the debit card for transactions that would normally require checks. CC's for everything else. The only people that still deal in cash / checks / money orders are criminals and drug dealers.

Do not argue with me bringing up some fringe use case. You are wrong. Living in the past and only making ill-founded assumptions. Continuing to do so just makes living harder and more difficult for you. Look, I'm older than you are, so I know all that bullshit baggage you carry around from the 19xx's It's all wrong, forget about it. Embrace the new millennium.

[ Parent | Reply ]

Created by Mike_Crawford 1 year ago
[ 0.00 | 0.00 ] [#9083]

The IRS indeed does have the option of paying online, with a direct EFT from my credit union. Unfortunately the way they verify my identity is to ask questions about my previous returns. I haven't filed in years - didn't make enough money to file.

I got the check in the mail, one day late because I spaced that I was supposed to mail it on the 18th and so slept all day.

[ Parent | Reply ]

Created by anonymous 12 months ago
[ 0.00 | 0.00 ] [#9094]

why don't you ask them for off-the-record payment? sounds like a plan?

any one wish to read and apprehend what could be useful to US, the money-less bunch?


[ Parent | Reply ]

Created by OrionBlastar 1 year ago
[ 1.00 | -0.76 ] [#9001]

FIrst asking Trolls for tax info is stupid.

Ask a lawyer or accountant instead.



Just remember to keep track of assets, liabilities, expenses related to your business or doing business as Soggy Wizards or whatever. They are tax deductable.

[ Parent | Reply ]

Created by Mike_Crawford 1 year ago
[ 2.00 | 0.00 ] [#9006]

I use GnuCash. It's hard to learn how to use it, but once you do it's a great bookkeeping program.

[ Parent | Reply ]

Created by OrionBlastar 1 year ago
[ 0.00 | 0.00 ] [#9015]

Does it file taxes for you too? If not, you are screwed.

[ Parent | Reply ]