What's the chance one of you guys is an accountant
- Thread starter HoopsGuru
- Start date
03LightningSVT
New member
Don't worry...the IRS will let you know
coralnut99
New member
<a href=showthread.php?s=&postid=12338190#post12338190 target=_blank>Originally posted</a> by 03LightningSVT
Don't worry...the IRS will let you know
Oh, they will! They have gotten really good about that in the last few years. What they don't tell you is what you missed altogether. The whole thing has gotten so complicated they readily admit they can't do it to the letter of the law that's forced on them to administer. So don't blame the IRS, blame your congressman who's made writing tax legslation synonymous to running a candy store. It's an absolute mess.
HoopsGuru
In Memoriam
<a href=showthread.php?s=&postid=12341075#post12341075 target=_blank>Originally posted</a> by NCNBilly
Can i have your tank when they take you away?
Sure, but it's going to have bits of the IRS audit guy in there so be sure to do a water change and run some carbon
My concern is on my Schedule C, my bottom line number is correct but I goofed on how I input gross receipts/profit (I think, who knows). The language on the form and whether you can use EZ is ambiguous at best.
coralnut99
New member
That's kind of stuff they will "fix" for you. If it's in fact wrong, you'll get a form letter telling you where you went wrong and what the $ hit is in a couple of weeks.
bmorecopper
New member
Taxes?????
Taxes?????
Taxes????? We were supposed to pay taxes?????? I knew there was something I forgot.
Taxes?????
Taxes????? We were supposed to pay taxes?????? I knew there was something I forgot.
HoopsGuru
In Memoriam
My bottom line is right, I hope they don't hit me with a penalty. In a nutshell, my Taxcut software changed the wording and this year steered me into the Schedule C EZ form for my little internet store I had in 2007. For the sake of discussion, my receipts totaled about $11k but my profit was only about $1k (10k in costs to drop ship to customer). I got confused with the term "expenses" (worded differently) so on the EZ form on Line one I simply put my profit minus my $7.95 per month web hosting charge as an expense. So, on the EZ form my Line one actually reads my profit when I think it should be total receipts ($11k) and my expenses should be my goods cost (10k) + webhosting. Either way, my net profit to be added to my 1040 is the same number.
I have it this way on my Federal, State, and Local taxes. Is this a mistake, show I send in amended returns to all?
