2011 CPA conversation with the IRS

So? Why now?

I retired on social security last year and quickly discovered I could not make the $400 tax payment to the IRS. I put together a package showing we upside down by almost $600.

Submitted it through our CPA and after a couple months, the IRS response was at first review, we will potentially be paying a $843. Only the IRS and tjeir fancy new computer system could figure that kind of math.

What's your story? Please no cursing, swearing, or mis-statement of facts. Right now I am monitoring the comments so feel free to share. You can also provide suggestions to me via the comments on any post, I would appreciate any suggestions on improving the blog.

Paul

2005 business failure was the beginning

So, what to do when I can not sleep because of the conversation with the CPA late yesterday regarding our IRS payment going from $400 to $800 a month?

Perhaps start a blog where folks can share their own stories?

Ours started with gathering the finances to build and open a small business. Parenthetically never include your home as collateral for a SBA loan. Everything went fine up until I saw the business, for several different reasons, would never support the debt load.

Please no cursing, swearing, or mis-statement of facts.