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mahatmakanejeeves

(57,740 posts)
2. I looked at my 1040 for tax year 2019 this morning.
Mon Sep 28, 2020, 04:59 PM
Sep 2020

I had been burned in the two previous tax years by underwithholding. I made sure to withhould like crazy in 2019. I'm way over what I started out at.

Surprise. A bunch of funds I held declared a special dividend on December 31, 2019. I had underwithheld again.

In addition to what I had already paid, I had to cough up over $5,000 by July 15.

I waited until the last minute. I think I paid up on July 14. I owed on my Virginia return too.

I am not an accountant, but I come from a family of accountants. No one in my family, and they are mostly pretty RW, would ever try to flim flam the IRS the way Trump attempts.

I take every deduction that's allowed. Those are the rules. I play by the rules. I don't try to cheat. There's a big difference. When I sign that return, I can sleep at night.

Much More ProfessorGAC Sep 2020 #1
I looked at my 1040 for tax year 2019 this morning. mahatmakanejeeves Sep 2020 #2
Before last year I underwithheld a ton. jorgevlorgan Sep 2020 #3
I had to pay an additional $7 fine for under-withholding. nt Xipe Totec Sep 2020 #6
"When I sign that return, I can sleep at night." MyOwnPeace Sep 2020 #7
I challenge that assertion based on his 3AM tweets. jorgevlorgan Sep 2020 #9
Had a friend.......... MyOwnPeace Sep 2020 #11
mid tweet? jorgevlorgan Sep 2020 #13
Nah...... MyOwnPeace Sep 2020 #15
I paid zero last year PoindexterOglethorpe Sep 2020 #4
That was me before I got a good job. jorgevlorgan Sep 2020 #5
I'm retired, have several sources of income: PoindexterOglethorpe Sep 2020 #10
Oh very cool! jorgevlorgan Sep 2020 #12
Oh, probably. PoindexterOglethorpe Sep 2020 #14
More and not even close.nt BootinUp Sep 2020 #8
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