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Started By
Message
re: Serious Tax Issue
Posted on 5/20/13 at 11:58 pm to twoifbysea
Posted on 5/20/13 at 11:58 pm to twoifbysea
So somewhere along the line you've made a cumulative total (over one or more years) north of a million dollars and didn't pay taxes on it.
Yeah, while I agree that Louisiana can be unusually aggressive in collecting taxes, I can see their point in not just taking your word that you have no money or assets with which to pay this off.
Call a tax lawyer first thing in the AM.
Yeah, while I agree that Louisiana can be unusually aggressive in collecting taxes, I can see their point in not just taking your word that you have no money or assets with which to pay this off.
Call a tax lawyer first thing in the AM.
1
Posted on 5/21/13 at 7:29 am to Walking the Earth
This is why I'm constantly checking on my bookkeeper to make sure all of my tax obligations are up to date. I'd rather do without than put myself in a situation like this one.
Posted on 5/21/13 at 7:44 am to twoifbysea
Do you regret living above your means in the last? You should read this board more often. Lots of successful people here who don't blow their load every time a new car gets released.
Posted on 5/21/13 at 7:55 am to twoifbysea
quote:That can't be the whole story.
got divorced. Wife took me.
quote:Now that's the whole story.
I was not smart
Posted on 5/21/13 at 7:57 am to twoifbysea
quote:GOOD!!!
I met with the State and they said tough shite. Pay us the total.
Posted on 5/21/13 at 8:10 am to twoifbysea
quote:
I did. No DL unless I can pay $3200 down and $1100/month for 60 months. It's unbelievable.
Jesus...have you never paid state or federal in your entire working life
What's the interest and fees on your LA tax obligation? Maybe it makes sense to see if you can borrow enough to start the payment plan with the state so you can at least get back to driving.
This post was edited on 5/21/13 at 8:11 am
Posted on 5/21/13 at 8:12 am to ZereauxSum
quote:
have you never paid state or federal in your entire working life
My guess is he didn't remit the withholding taxes he deducted from his employees' pay to the feds and the state. He kept that money to finance his business operations.
It happens frequently and when the business owner gets caught doing it he tries to make himself out to be the victim rather than the perpetrator of a crime.
Posted on 5/21/13 at 8:22 am to LSURussian
quote:
My guess is he didn't remit the withholding taxes he deducted from his employees' pay to the feds and the state. He kept that money to finance his business operations.
Ah that makes sense. I was struggling to make sense of this for someone who drives for a living.
quote:
It happens frequently and when the business owner gets caught doing it he tries to make himself out to be the victim rather than the perpetrator of a crime.
Yeah no sympathy from me on this one.
Posted on 5/21/13 at 8:24 am to LSURussian
quote:
My guess is he didn't remit the withholding taxes he deducted from his employees' pay to the feds and the state. He kept that money to finance his business operations.
Ding Ding Ding........I think we have a winner
Posted on 5/21/13 at 8:30 am to RunningBlake
quote:
Well, I'm very surprised the law is to revoke DL. I have no experience with LA though.
I fought with state for yrs over 7k....that's is until they suspended dl and hunting license. Wrote a check the next day, lol
also, fee is $60 to reinstate dl
This post was edited on 5/21/13 at 8:50 am
Posted on 5/21/13 at 8:37 am to LSURussian
quote:The IRS doesn't forgive these kind of liabilities because the unpaid taxes are actually the tax payments of employees that the employer was entrusted to remit on the employees' behalf. The penalty for failing to remit employer's taxes is 100% of the unpaid tax.
My guess is he didn't remit the withholding taxes he deducted from his employees' pay to the feds and the state.
This is why I recommend outsourcing payroll to all of my clients. The payroll service will require that all tax liabilities be satisfied when incurred, and they assume the responsibilty for making the deposits with the appropriate tax authorities.
Posted on 5/21/13 at 9:00 am to twoifbysea
How do you only have $200 in disposable income per month but you have made millions of dollars over the past couple of years?
Posted on 5/21/13 at 9:01 am to Poodlebrain
quote:
This is why I recommend outsourcing payroll to all of my clients. The payroll service will require that all tax liabilities be satisfied when incurred, and they assume the responsibilty for making the deposits with the appropriate tax authorities.
My wife owns a bookkeeping service and does mine for me but I can see where you are coming from. The best thing that happened to us was when the payroll got to a point where we had to remit twice a month instead of once a month. Now the money is set aside every 15 days come hell or high water. When it's due once a month you tend to only worry about it once a month. I thought I'd hate paying twice a month and I actually prefer it.
Posted on 5/21/13 at 9:03 am to Bear Is Dead
quote:
How do you only have $200 in disposable income per month but you have made millions of dollars over the past couple of years?
If he wasn't paying his employees federal and state withholdings he wasn't necessarily making "millions".
Posted on 5/21/13 at 9:23 am to twoifbysea
I'm guessing this thread isn't going how he had hoped.
Posted on 5/21/13 at 9:29 am to VABuckeye
I don't provide payroll services to my clients for two reasons. The first is that I do not have the time to stay current on all payroll tax matters at the federal and state levels. So I would be dependent on a third party to provide me with software that promises compliance with the appropriate laws. But more importantly, I do not want to take on the responsibility of holding clients' tax payments until it is time to remit them to the appropriate tax authorities, and file the required tax returns. Any simple mistakes can result in penalties that would potentially cause relationship issues with clients unless I paid them without informing the client(s).
Posted on 5/21/13 at 11:06 am to Poodlebrain
It does not involve payroll taxes. It is strictly income taxes. Tje long story short is that I started two companies that made a lot of money, created a lot of jobs, and created a lot of revenue for the state. One of the companies is still in operation.
I sold my ownership and at the same time went thru a brutal divorce. Wife got mostly everything, house (lots of equity), $100k cash, and I got stuck with the tax liability.
I sold my ownership and at the same time went thru a brutal divorce. Wife got mostly everything, house (lots of equity), $100k cash, and I got stuck with the tax liability.
Posted on 5/21/13 at 11:27 am to Poodlebrain
Which companies do you recommend for payroll?
What is the typical fee structure for a payroll company?
What is the typical fee structure for a payroll company?
Posted on 5/21/13 at 11:29 am to twoifbysea
Posted on 5/21/13 at 11:33 am to twoifbysea
If it is strictly income taxes then you a) lived way outside of your means and spent poorly and b) had a terrible divorce attorney or c) got caught cheating and didn't have a leg to stand on.
It also means that you ignored your tax obligations to the federal and state governments and spent money that wasn't yours to begin with.
It also means that you ignored your tax obligations to the federal and state governments and spent money that wasn't yours to begin with.
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