If you do owe money, file your taxes, admit to owing it, but do not pay. The interest rate for unpaid taxes is the federal short term interest (currently 4.72%) + 3%. So 7.7% annually. There are no additional penalties assuming you prepaid 90% of what was due.
For this small fee, we can remove a source of revenue from the corrupt government. If everyone who owes $2000 takes the hit of $150 to delay payment by a year, we can force the government to slam mercilessly into the debt ceiling. Assuming we can then convince the MAGA reps in the House not to raise the ceiling, we can bring tremendous pain on the government. They will be crippled. That is worth $100 or so in my opinion.
If you are due a refund, demand it as quickly as possible. We want the federal government bled dry. And please update your W4. It is unconscionable that anyone give these criminals an interest free loan.
Wrong! There is a 0.5% late "pay"ing penalty, assessed per month, up to 10 months (5% total). Not to be confused with late "FILING" penalty of 5% per month, up to 10 months (50% total).
I struggle with clients over this all the time. Even with the late "pay"ing penalties, it is usually cheaper to owe the gov't, than to borrow.
OK, thanks. Good to know. Still well worth it in my opinion. The IRS is a criminal enterprise collaborating with authorities committing treason. If I can play just a small part in bringing this illegal government to it knees, then it's still affordable.
If you do owe money, file your taxes, admit to owing it, but do not pay. The interest rate for unpaid taxes is the federal short term interest (currently 4.72%) + 3%. So 7.7% annually. There are no additional penalties assuming you prepaid 90% of what was due.
For this small fee, we can remove a source of revenue from the corrupt government. If everyone who owes $2000 takes the hit of $150 to delay payment by a year, we can force the government to slam mercilessly into the debt ceiling. Assuming we can then convince the MAGA reps in the House not to raise the ceiling, we can bring tremendous pain on the government. They will be crippled. That is worth $100 or so in my opinion.
If you are due a refund, demand it as quickly as possible. We want the federal government bled dry. And please update your W4. It is unconscionable that anyone give these criminals an interest free loan.
Wrong! There is a 0.5% late "pay"ing penalty, assessed per month, up to 10 months (5% total). Not to be confused with late "FILING" penalty of 5% per month, up to 10 months (50% total).
I struggle with clients over this all the time. Even with the late "pay"ing penalties, it is usually cheaper to owe the gov't, than to borrow.
OK, thanks. Good to know. Still well worth it in my opinion. The IRS is a criminal enterprise collaborating with authorities committing treason. If I can play just a small part in bringing this illegal government to it knees, then it's still affordable.