Wednesday, July 05, 2006

The Tax Man Cometh

Installment Payment Agreement Billing Notice.... this is the long fancy term that NY State uses when you owe taxes and cannot pay in full. I received my first notice today, and it is Bill 1 of 6.

Six whole months of paying Mr. Tax man over $100 per month. It is partly my fault. With the new job in the neighboring state last year, I never double checked to make sure they are taking out sufficient taxes. By the time I figured this out, I was doing my tax returns and it was too late.

The withholdings were changed immediately, so next year I should break even. My philosophy with taxes both Uncle Sam and his bastard state child (aka state income tax) is to break even. At worst I do not mind owing a few dollars. I do not want a big refund at the end of the tax year, not with the rate on these high yield savings account. However, this bill for over $600 was a bit much.

At tax time next year I should break even with the Tax Man.

1 comment:

Single Ma said...

LMAOOOOOOO @ "Uncle Sam and his bastard state child"

But I'm sry to hear you got a big tax bill.