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Permlink Replies: 31 - Pages: 3 [ Previous | 1 2 3 | Next ] - Last Post: May 1, 2012 7:12 AM Last Post By: sharidale
girlvol2

Posts: 72
Registered: 02/04/12
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 4:44 PM   in response to: martitalbott in response to: martitalbott
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Here is something even MORE stupid. :) I don't know what a quarterly estimated tax form is (OK, I do, but I wasn't aware we had to do that?) I thought I could just do my tax return at the end of the year?
Help, please!
I think I forgot to sign my quarterly estimated tax
form. I sent the money, but... Are they going to come
get me? Anyone have the money to bail me out? I gave
all mine to the government this month. Can I plead
permanent insanity?

If you never hear from me again, you'll know why.
Oh...help.

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vlgallas

Posts: 2,504
Registered: 05/13/09
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 4:51 PM   in response to: girlvol2 in response to: girlvol2
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No, you do not have to do that at all. Marti chooses to.
girlvol2

Posts: 72
Registered: 02/04/12
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 4:51 PM   in response to: vlgallas in response to: vlgallas
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Thanks!!
andresanthomas

Posts: 4,926
Registered: 01/01/12
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 5:31 PM   in response to: 1001nightspress in response to: 1001nightspress
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Actually, unless there's a problem, no real person looks at your check for more than a second, either at the IRS or at the bank, so checks without signatures go through all the time, as well as the gas company cashing a check made out to the phone company, etc. etc. And, just fyi, the "legal" amount of the check is the part where you write out "one hundred dollars" (or whatever the amount is), not the part where you write $100.00.
scribblr

Posts: 3,305
Registered: 05/08/08
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 5:37 PM   in response to: girlvol2 in response to: girlvol2
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[i]Thanks!![/i]

The response that Marti had only CHOSEN to file was incorrect. I'm sorry, but you MUST send in estimated tax payments on royalties every quarter, but ONLY once you cross over a threshold level of income that has not already been subject to withholding.

My accountant handles all that stuff and even gives me the completed forms with the amount I have to pay so I can't tell you the monetary specifics. All I do is write out the check and mail it. If you're just starting out, you probably don't have to worry about it this year, but you will in later years once you hit the magic number. If you're required to pay the tax quarterly and don't, you get slapped with a healthy fine. I'm sure that if you go to the IRS site and the tax site for your home state, you can find the amount easily enough.

Sorry to be the bearer of bad news. :-(

Quick Update:

I popped into the IRS website. Essentially, they say that if you expect to owe more than $1,000 at the end of 2012, you must send in the quarterly estimated payments. There's a bunch of other stuff there and a lot of examples for calculating whether you'll owe after deducting credits and such, and how much you must send.

All of this assumes that you're a US citizen. :-)

Message was edited by: scribblr
martitalbott

Posts: 4,066
Registered: 07/29/10
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 5:50 PM   in response to: girlvol2 in response to: girlvol2
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That's what I thought too, last year but I got hit hard at the end of the year. It is better to file a quarterly estimate just in case you are bad at saving money. Besides, it is required by the US after you make a certain amount. They just can't wait for our money, you know. I advise everyone to look into that.
martitalbott

Posts: 4,066
Registered: 07/29/10
Re: Bet you haven't done anything this stupid
Posted: Apr 25, 2012 5:56 PM   in response to: scribblr in response to: scribblr
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I didn't file quarterly last year and am waiting to see what kind of fine I will get hit with. My brother kept telling me, but...

Lesson learned, I guess. No doubt an expensive lesson.

Just don't die. They found a way to get you after you're in the grave - they slyly call it inheritance taxes.

Message was edited by: martitalbott
dansontanner

Posts: 452
Registered: 10/12/11
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 8:51 AM   in response to: vlgallas in response to: vlgallas
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A guard? No, and your response shows just how uninformed you are. You are grasping at what you read, heard, or some "activist" TOLD you. I lived it for almost two decades. If most prison activists knew how the majority of the inmate population really felt about them, they'd find another windmill to charge. Security staff make up less than 65% of staff in an institution, depending on the population's classification. There are a lot of educated professionals in the other 35%. You try to paint all with a very broad brush. Are you projecting? Ah, never mind, if you have one.

I'm done with this topic. Think of a great quip for a comeback, you still know nothing of what you speak.
newbunch

Posts: 73
Registered: 06/27/10
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:01 AM   in response to: martitalbott in response to: martitalbott
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You sent the money by mail? Does that still exist?

I make my quarterly payments online.
mellennyum1

Posts: 278
Registered: 11/12/11
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:13 AM   in response to: martitalbott in response to: martitalbott
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[i]Bet you haven't done anything this stupid[/i]

In 1974 I hid an ounce of marijuana in my dormitory ceiling, because the police were coming to search due to a bomb threat. Unfortunately I had put my dope in an envelope that had a label with my name and address on it. I was arrested a few hours later while standing on a toilet while desperately trying to scrape off that label. You forgot to sign a tax form and you think[i] that's[/i] stupid? Amateur.

76year2

Posts: 1,552
Registered: 11/29/11
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:18 AM   in response to: martitalbott in response to: martitalbott
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You got them confused now Marti, they will just double what you owe. Like they did me one time 20 year's ago. And I'm still fighting them over it. As far as jail time, you sent in a return and they have to figure that out first. I think they got a bunch of China men to do that. Or maybe India, but if you talk to them on the phone be sure you punch the "want English" button.
martitalbott

Posts: 4,066
Registered: 07/29/10
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:26 AM   in response to: newbunch in response to: newbunch
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What? How do you make the payments online. I used Turbo tax for my 2011 taxes, but I couldn't find a place for the quarterly estimated tax. I would much rather do it online.
newbunch

Posts: 73
Registered: 06/27/10
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:30 AM   in response to: martitalbott in response to: martitalbott
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To make quarterly tax payments online, go to https://www.eftps.gov/eftps/index.jsp
martitalbott

Posts: 4,066
Registered: 07/29/10
Re: Bet you haven't done anything this stupid
Posted: Apr 26, 2012 9:35 AM   in response to: newbunch in response to: newbunch
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You are brilliant! What a time saver this will be, not to mention stamps and screw-ups, which I am prone to do. I bookmarked it, thanks much!
martitalbott

Posts: 4,066
Registered: 07/29/10
Re: Bet you haven't done anything this stupid
Posted: Apr 30, 2012 6:36 PM   in response to: martitalbott in response to: martitalbott
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Update -- The check finally cleared my bank and...I wrote it for the wrong amount. It's short. What do I do now?
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