synth19

I accidentally made a mistake on my RL taxes. I paid around $300 back in January, got my title from the state and assumed everything was ok. I got a certified letter from the IL IRS on Friday and I apparently owe around $1200. OOPS. Luckily, pay the difference and the case is closed.

Loseit

iTrader: (1)

why are your statements in red
atleast you tried

synth19

^ Red means that I'm embarrassed at my honest mistake.

jz-97-c7

happened to me too....it's only bad if you don't have it.

Loseit

iTrader: (1)

charliemike

Err, what? Income taxes? IRS? What? How did they find out?

synth19

^ They said the taxes I paid did not match up to the value of the car.

Trojanman750

god damn the IRS

LuvMyTSX

I second that. Although it was the state of NJ and not the IRS that came after me in September for 50 fuckin dollars from the 2004 tax year. Assholes just want to suck out every dime from the taxpayers.

RaviNJCLs

iTrader: (4)

It was worth a try I guess. I hate getting mail from the IRS and state. I think I spent about $5000 in the last 2 years clearing up my wife's issues with them. I feel my heart stop every time I get mail from them.

LuvMyTSX

While living in Belgium, my parents had Price Waterhouse doing their taxes for them since they were so complicated by living overseas. Well, the last year they were there, the IRS made a mistake, and sent my parents a letter saying they owed $33,000 in taxes. You can imagine what they went through when they received that letter. Then, after it was cleared up, they got another letter saying the same thing again. They went through a lot of crap that year trying to fix the IRS' mistake.

GreenMonster

Yeah, they've been checking that stuff for awhile now here in MA... lots of people would have the bill of sale written up for less then the actually sale price, so now they make you pay the tax on the "value" and not the reported sales price...

I've had my fair share of dealings with the registry/tax assessors before

charliemike

Ok. I don't see how that makes sense but then again, this is the IRS.

Did you buy it for less than you sold it? That's a pretty good deal ... How do I get in on that action?

RaviNJCLs

iTrader: (4)

Wow that sucks.

I had my aunt's accountant do my taxes for me for about 5 years. And I never got anything back and usually owed about $1000 a year. 3 years ago I had a student of mine work for a CPA in NY and she offered to get them done for me for free. So I took her up on it, and it turned out that my aunt's accountant never did it right. Long story - short, I was able to amend my previous years and got back close to $15K. I was able to pay off all my debt and part my car.

RaviNJCLs

iTrader: (4)

I was thinking of doing that when I bought my CL since it was a private deal. But when I went to the DMV, they needed to see my letter from my financing company which included the total value of the loan. So if I had done the bill of sale for less, I would have gotten caught at the DMV.

NSXNEXT

iTrader: (2)

Thought this was gonna be a post count thread.

synth19

^ excellent diligent mod work. LOL!

bl^5

I did that with my CL back in 01 and the Tax Assessor never caught it. I've done it with various cheaper cars since then and been fine too. Texas just changed the way the deal with private auto purchases though. Now they tax based on the cars blue book value regardless how much you actually paid for it...