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!"
Yeah.
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."
Sigh.
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.
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.
ReplyDeleteYikes, that is one of my biggest fears in the working world.
ReplyDeleteBut, 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?
oh no! I hope that it can get sorted out! shoot!!
ReplyDeleteFrom 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.
ReplyDelete