Another super genius success story.

[Carl]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8154425

intheflow  (1000+ posts)          Thu Apr-15-10 12:42 PM
Original message
Can we work to change the federal poverty level to reflect reality?
   
I just finished my taxes. I made a little over $14500 last year but owe $1750 in taxes because two of my employers don't take out federal tax. WTF orifice am I supposed to pull that money out of? I have $98 in the bank, my car insurance is due at $97 or it'll be cancelled on Tuesday, and I am totally and royally ****ed.

jody  (1000+ posts)          Thu Apr-15-10 12:58 PM
Response to Reply #2
8. I believe one must pay estimated tax due when you request an extension and other charges may occur.
   http://www.irs.gov/pub/irs-pdf/f4868.pdf

Interest
You will owe interest on any tax not paid by the regular due date
of your return. This is April 15, 2010, for a 2009 calendar year
return even if you qualify for the 2-month extension because you
were out of the country. The interest runs until you pay the tax.
Even if you had a good reason for not paying on time, you will
still owe interest.

Late Payment Penalty
The late payment penalty is usually ½ of 1% of any tax (other
than estimated tax) not paid by the regular due date. It is
charged for each month or part of a month the tax is unpaid.
The maximum penalty is 25%.

I am sure that such a successful independent contractor would know tax law.

intheflow  (1000+ posts)          Thu Apr-15-10 01:20 PM
Response to Reply #4
11. One of my employers never told me they weren't withholding federal tax.
   Regardless, I only made $1850 with them. That $100 has gone to gas. I'm quitting that ****ing job, it's 40 minutes from my home and without it I would have earned enough to qualify for the Earned Income Credit.

Yeah,pretty silly that they didn`t give you the withholding forms to fill out.

intheflow  (1000+ posts)          Thu Apr-15-10 01:21 PM
Response to Reply #6
12. The federal poverty line for a single person with no dependents is a little over $10K.
   Edited on Thu Apr-15-10 01:22 PM by intheflow
That's why I'm saying they poverty levels need to be adjusted to reflect reality. Right now they only take housing costs into effect, they don't consider the cost of food, transportation, insurance, or any other expenses. I'm not even eligible for food stamps.

I WANT MY PONY!!!! 

proudohioan  (525 posts)        Thu Apr-15-10 01:09 PM
Response to Original message
10. Stupid question, I know.....
   but did you remember to count yourself as an exemption? I did that one year myself, and thought to myself (in a big panic) that I was ****ed cuz I didn't have the money. When I calmed down I looked over my return again carefully and realized I didn't count myself as an exemption.

Owing taxes on $14,500 just doesn't sound right. If it turns out to be correct, that's really ****ed up for sure!

Best of luck to you; I've been in a similar income bracket myself lately!

intheflow  (1000+ posts)          Thu Apr-15-10 01:33 PM
Response to Reply #10
14. OMG, thank you!!!
   I filled out the 1040EZ which does not give you an option to include yourself as an exemption. Using the regular 1040, I get back the whopping $76 I paid in Federal Taxes. Thank you, thank you, thank you!!!

Boy..for the most educated,intelligent,enlightened and thoughtful people in the country they sure act pretty stupid.

 

[ChuckJ]

Boy..for the most educated,intelligent,enlightened and thoughtful people in the country they sure act pretty stupid.

 

I'm pretty sure that they're not acting.

[zeitgeist]

I'm pretty sure that they're not acting.

I'll see your "super genius" thread and raise you this "Forest Gump", but first note the graph below and realize the primitives really believe the dump is Lake Wobegone, where "all the women are strong, all the men are good looking, and all the children are above average," sadly there are many more in the shallow end of the IQ pool at the dump than they would like to admit.

Under 70 [mentally retarded] -- 2.2%
70-80 [borderline retarded] -- 6.7%
80-90 [low average] -- 16.1%
90-110 [average] -- 50%
110-120 [high average] -- 16.1%
120-130 [superior] -- 6.7%
Over 130 [very superior] -- 2.2%

Now the "Forest Gump primitive" below is not only smimming in but probably also dove head first into the shallow end of the IQ pool, or it could just be the stress of TAX DAY .  I put the important stuff in bold.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8155813

AnArmyVeteran  (505 posts)        Thu Apr-15-10 04:08 PM
Original message
WOULD SOMEONE PLEASE HELP ME! STATE FARM SCREWED ME OUT OF $5,550!!! PLEASE HELP!!!  
 Edited on Thu Apr-15-10 04:38 PM by AnArmyVeteran
WOULD SOMEONE PLEASE HELP ME WITH THIS PROBLEM! STATE FARM just cost me $5,000!! (PLEASE!)

(I KNOW THIS IS LONG, BUT WOULD YOU PLEASE READ ALL OF IT & PASS IT AROUND? I NEED HELP WITH THIS!)

How the State Farm Insurance Screwed Me Today with a Massive $5000 Tax Bill

State Farm seems to be just another corporation where its workers check their souls at the company door, if they even have them to start with. I went to a tax preparer this morning and was told because State Farm cancelled my life insurance policy I would owe $5,000 in taxes, instead of getting a $550 refund.

Last January 2009, I paid for my yearly insurance premium of $130.70 for a life insurance policy my Dad talked me into getting soon after I got out of the US Army. I made the payment on time, but State Farm 'lost' it. They didn't notify me of the lost check and a couple of months later they cancelled the policy I've had for almost 40 years.
 
< yada yada yada very long rant >

IF THERE IS ANYONE WITH ANY IDEAS TO HELP IN THIS SITUATION, PLEASE HELP!!!!!

Someone missed their meds?  Where is Nurse Rachet??
  
Amazing, it is never a dummies fault, no?
  

[GOBUCKS]

Wait a minute! 'Splain again how the DUmmy owes nearly $2000 more on Form 1040EZ vs. Form 1040, with no itemized deductions.

  I filled out the 1040EZ which does not give you an option to include yourself as an exemption.

They call it "EZ" because it's supposed to be idiot-proof. This DUmbass proves that idiot-proofing is an impossible exercise.
I guess that's a good thing for tax moguls like H&R Block and franksolich.

[thundley4]

Something that pisses me off is the fact that I always had used the EZ form and it took less than 10 minutes to do it.  Now that I file online and use software, it takes me longer. 

[diesel driver]

Wait a minute! 'Splain again how the DUmmy owes nearly $2000 more on Form 1040EZ vs. Form 1040, with no itemized deductions.They call it "EZ" because it's supposed to be idiot-proof. This DUmbass proves that idiot-proofing is an impossible exercise.
I guess that's a good thing for tax moguls like H&R Block and franksolich.

According to Murphy's Law, you can't build something "idiotproof", because the world would simply build a better idiot....

[crockspot]

Did DUmmy remember to fill out Schedule M? There is another four hundred bucks of Obama stash money probably coming his way.

[USA4ME]

intheflow

 
I just finished my taxes. I made a little over $14500 last year but owe $1750 in taxes because two of my employers don't take out federal tax. WTF orifice am I supposed to pull that money out of?

One of my employers never told me they weren't withholding federal tax. Regardless, I only made $1850 with them.

Sounds like he got paid via 1099, in which case he needs to withhold the 15.3% for future payment.  What an idiot.

AnArmyVeteran 
 
WOULD SOMEONE PLEASE HELP ME! STATE FARM SCREWED ME OUT OF $5,550!!! PLEASE HELP!!! 

Last January 2009, I paid for my yearly insurance premium of $130.70 for a life insurance policy my Dad talked me into getting soon after I got out of the US Army. I made the payment on time, but State Farm 'lost' it. They didn't notify me of the lost check and a couple of months later they cancelled the policy I've had for almost 40 years.

Baloney!!  He would have gotten countless notices, and even in most states you have the right to have the policy reinstated up to 90 days after cancellation.  And talking to DU is the worst place to go, dimwit.  Call the State Insurance Commissioner.

Honestly, these idiots can't do anything without someone holding their hand.

.

[Carl]

Sounds like he got paid via 1099, in which case he needs to withhold the 15.3% for future payment.  What an idiot.

Baloney!!  He would have gotten countless notices, and even in most states you have the right to have the policy reinstated up to 90 days after cancellation.  And talking to DU is the worst place to go, dimwit.  Call the State Insurance Commissioner.

Honestly, these idiots can't do anything without someone holding their hand.

.

Exactly,and I would be asking those questions from the start as far as withholding or independent contractor because I know how it works.

These DUmbass effing idiots never bother to inform themselves and then cry and whine about it after.
Worthless and useless pieces of crap that as self employed still can`t get much above the poverty level of a homeless thing like bobbo...I think I read she was homeless somewhere.

[Texacon]

Army vet let the policy go thinking there would be no repercussions.  Guess it was wrong.

KC

[BEG]

Back in the glorious Clinton years when my husband made around $25k (we had two kids) we always had to pay at least $1200 every year in federal.  We rented at the time which is why I'm sure we owed money.

[BlueStateSaint]

According to Murphy's Law, you can't build something "idiotproof", because the world would simply build a better idiot....

Actually, Skins did--about 5000 of them--when he set up the Island.

[dandi]

intheflow  (1000+ posts)          Thu Apr-15-10 01:33 PM
Response to Reply #10
14. OMG, thank you!!!
   I filled out the 1040EZ which does not give you an option to include yourself as an exemption. Using the regular 1040, I get back the whopping $76 I paid in Federal Taxes. Thank you, thank you, thank you!!!

5. If someone can claim you (or your spouse if a joint return) as a dependent, check
the applicable box(es) below and enter the amount from the worksheet on back.

You  Spouse

If no one can claim you (or your spouse if a joint return), enter $9,350 if single;
$18,700 if married filing jointly. See back for explanation.

Ladies and gentlemen, I give you The Smartest People On Earthâ„¢.

[USA4ME]

Army vet let the policy go thinking there would be no repercussions.  Guess it was wrong.

KC

Well here's another part of the lie.

My policy also had a paid-up feature where it automatically paid your premium if you choose not to pay. It's just added to the loan. But last year, even though I made a payment to them to keep my policy current, they canceled my policy.

Yeah. Right.  If the policy has some Waiver of Premium Rider that deducts the payment from the cash value, then there's no way in the world the policy could be cancelled unless their was insufficinet funds remaining in the cash value to make the payment.

Not only that, but he wrote a check for the premium but either doesn't know how to balance a checkbook (primitive, so not surprising) to see that it never cleared, or does on-line banking and just never paid attention.  Either way, this dolt needs a sign over his head saying "I pay no attention to what's going on in my personal finances.  Please abuse me as you see fit."

.

[diesel driver]

Ladies and gentlemen, I give you The Smartest People On Earthâ„¢.

All aboard the "Obama Express"   

DUmmies ride for free....

And don't lick the windows....

[zeitgeist]

Ladies and gentlemen, I give you The Smartest People On Earthâ„¢.

And right you are dandi !!  These are the people who stand on line for hours to own the first [fill in the blank] Ipod, Nintendo, WII, but wait until the final day to begin doing their taxes!!@

intheflow  (1000+ posts)          Thu Apr-15-10 12:42 PM
I just finished my taxes.

and...

AnArmyVeteran  (505 posts)        Thu Apr-15-10 04:08 PM

I went to a tax preparer this morning

 

[Karin]

Well, what a funny thread!  I'm still a little speechless about the 1040EZ.  Would love to hear Frank's comment.

I have no idea what's going on with that guy's insurance deal.  Couldn't the tax preparer have explained it?  We cashed out a whole life policy when we got divorced, then paid taxes on that gain.  They withheld it, so it wasn't a great big deal of drama or anything.

[NHSparky]

intheflow  (1000+ posts)          Thu Apr-15-10 12:42 PM
Original message
Can we work to change the federal poverty level to reflect reality?
  
I just finished my taxes. I made a little over $14500 last year but owe $1750 in taxes because two of my employers don't take out federal tax. WTF orifice am I supposed to pull that money out of? I have $98 in the bank, my car insurance is due at $97 or it'll be cancelled on Tuesday, and I am totally and royally ****ed.

Lie, total DUmmie bullshit lie, and not a very good one at that.

http://www.dinkytown.net/java/Tax1040.html

Input $14,500 income (AGI), with no itemization, assuming worst-case scenario (single filer or married filing separate), and the DUmmie's tax bill is $501, not $1750.  That's because there's a standard deduction of $5700, knocking him down to a taxable income of $8800, and then a $400 make work pay credit.  If we assume 3 jobs, none above $5000, going to the IRS website and calculating for 2010, with no deductions, filing single or married/separate, we now have a tax burden of a whopping $210.  If he files as head of household or married/joint, that now becomes nearly a $600 CREDIT.

DUmmie accounting FAIL.

[DumbAss Tanker]

Well here's another part of the lie.

Yeah. Right.  If the policy has some Waiver of Premium Rider that deducts the payment from the cash value, then there's no way in the world the policy could be cancelled unless their was insufficinet funds remaining in the cash value to make the payment.

Not only that, but he wrote a check for the premium but either doesn't know how to balance a checkbook (primitive, so not surprising) to see that it never cleared, or does on-line banking and just never paid attention.  Either way, this dolt needs a sign over his head saying "I pay no attention to what's going on in my personal finances.  Please abuse me as you see fit."

.

That guy's too damned stupid to be entrusted with a checkbook.

[BlueStateSaint]

That guy's too damned stupid to be entrusted with a checkbook.

You know what's scary?  Someone will, or has.

[JohnnyReb]

I wish I were a super genius like the DUmmies....then the government would take care of all my needs and I wouldn't have a care in the world.

[Karin]

See, if I were Skins, those are the types of posts I'd delete, just to keep the joint from looking too stupid. 

[JohnnyReb]

See, if I were Skins, those are the types of posts I'd delete, just to keep the joint from looking too stupid. 

Then there would be only you and....and...and....well....just you.

[The Village Idiot]

ACME Super Genius Supply Co must have been missing its income tax fool-proof help booklet

[DumbAss Tanker]

ACME Super Genius Supply Co must have been missing its income tax fool-proof help booklet

Yes, apparently it was mistakenly packed with a shipment of large springs, a coil of rope, an anvil, some dynamite, paint, and miscellaneous hardware shipped to a Mr. W. E. Coyote somewhere in the southwest.