The Taxman Cometh

I hope you enjoy this video clip from the late Lucky Dube, a great Reggae star from South Africa who was sadly murdered in 2007 (see Wikipedia).

However this article isn’t about him, it’s about the sad state of affairs that everyone in the USA has to go through in the first quarter of the year, filing their tax return.

For the last 10 or so years I have always had a tax refund, however this year with living on my own and having to file single, even though I thought I was paying the correct amount of tax, it seems I got screwed, and so following a visit to H.R Block (a chain of tax accountants) on Wednesday, when I thought I might even get some money back, imagine my horror when I found out that I owe more than $4,000 in taxes.   Indeed – SHOCK HORROR…

It was a good job that I was sitting down at the time, because right now finding out that I owe more money than I have in the bank, and having lost my job five weeks ago, this isn’t exactly good news is it!

Well it doesn’t look like there is much I can do about it, and I will have to try and pay this in installments.   Nice of the IRS to charge you interest immediately on the extra that you owe, and although the accountant assured me that if I pay $50 a month that ought to be ok, I reckon with only marginal interest that it will take me 10 years to pay it back!   I looked online today to see how to register, and what do I find?  They charge you another $150 to register for payments in installments – plus the interest of course.

So what can I do?  Unless I get a job soon, and let’s face it, prospects now are not exactly good, I can either

  • Pay what I owe and save the interest and charges – but have nothing left for child support
  • Pay in installments and owe the IRS for a long, long, long, time unless I get a job

No good solution, since I really loathe having to pay interest and charges on anything, and always avoid doing so if I can help it.

Methinks that this of all times would be a good one to win the lottery…

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