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Beware: if you owe the government money due to your mistakes, you will have to pay penalties and interest.
by legalcorrection 5y ago
Beware: if you owe the government money due to your mistakes, you will have to pay penalties and interest.
- kristopolous 5y agoIf you overpay they'll credit you next year. They're pretty lenient as long as your act promptly in good faith
- pm90 5y agoThe main thing in this strategy is that your estimate is pretty close to the amount owed. So you may overshoot or undershoot, but likely by a pretty small amount, which is likely to make the difference owed small. I guess it could be considered a cost of filing taxes.
- dguest 5y agoHow much are the penalties? If they are charging some absurd (say 20%) interest and you're off by 10k, you might pay them a few hundred in interest if the process is prolonged a month, which is on par with a tax prep service.
- deleted 5y ago[deleted]