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I just started a thread on Relationships about my incredibly wonderful, romantic dh. . .
Well, on another note, dh "thought" he told me that we owed a bunch of money on our taxes. The last I heard, we only owed $250 or so. But no, apparently that was only for federal. We each owe over $200 to state! Ouch! That means that we own just under $700 - and need to find that money in just 8 weeks!!! On Monday, we are going to hit stores and restaurants in a local town to pick up more applications. If you don't mind, please pray that at least one of us can find a second job quickly!!
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Ouch!!! Can you file for an extension so that you don't have to come up with that much so quickly? I don't know anything about that, but know some people who have done so. It may be worth checking into, especially since you still have enough time to file without being deliquent. I'll be thinking of you. . good luck in the 2nd job hunt!!
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I am sure it will all work out. You can make arrangements to make payments without penelties. Call and find out about that.
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yeah you need to find out about the payment plans! it's so much easier to pay a little at a time! last year we owed and we didn't actually file till the beg. of april becasue we just mailed them in. then we got the payment plan going and the rest is going to be taken out of this years refund
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The first year my hubby and I were married we owed $750. The feds allowed us to pay on it for 1 year by installment.
Try that
Jen
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I would also say that maybe you could look into a CPA. they helped us out alot. to cut alot of that. I would talk to one for next year.
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You can file an installment form and make monthly payments - I believe it's Form 9475? Check with a CPA
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When were you married?
If you were married in 2006, are you filing jointly? If not, why not? I ask because you wrote, "... we each owe $200..." That makes me suspect that your husband has you filing separately.
Have you owed taxes in the past? (ie: when you were single) Do you usually get a refund? Other than getting married, is there anything else about your financial situation that has significantly changed?
I ask all this because the under-withholding sounds like such a surprise, I'm wondering if your taxes were calculated correctly.
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It sounds like the others have given you some good advice! Good luck!
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I'll say a prayer for you. I'm sure everything will work out fine.