Monday, January 23, 2012

Herrree's your sign.

Well, blog world ... do you ever have moments in your life where you make an epic mistake?
That was me this year.
Somehow .. I managed to eff up the amount withheld on line 6 from my W4s. The short version is that not nearly enough was withheld from my paychecks and now my husband and I owe quite a bit to the IRS and the state. At first I thought, "Geebus ... there has to be some mistake!"

Mistake I made was a huge faux-pas with my withholdings.
We're talking thousands of dollars.
Thousands of dollars that at present, we don't have. (of course.)

I haven't really asked my husband what he thinks, because rightfully? He's allowed to be a bit peeved. On the one hand, my response is: "Learn from this." And on the other hand, my response is: "You damn well know better. If you had a question (and you did), it was your responsibility to ask."

Bonehead Award of the Year goes to ..... this girl.

Clearly my growing pains in life aren't over yet. I feel a little bad that this time, it directly affects my husband.


  1. Sorry to hear! I work for an accountant and see mistakes like this all the time. You are not alone. Make sure you pay it by April 17th - even if you file an extension, the money needs to be paid out by April 17th in order to avoid any penalties/interest which can be very hefty.

  2. Yikes, that is one of my biggest fears in the working world.

    But, really- do employers honestly expect the average person to know this stuff 100%? Shouldn't HR have helped you with it? I wouldn't blame solely you- I'm pretty sure your HR department failed you. SOMEONE had to review your paperwork, right?

  3. oh no! I hope that it can get sorted out! shoot!!

  4. From experience with owing the IRS money- they're actually very kind about it. Set up a payment plan. Sometimes you can get the amount reduced by making a lump sum payment- see if that would counter any interest you'd incur from a loan. They only levy the penalties and interest if you try to skirt them. Just make a call and see what can develop.