Income Tax Payment Question

[Antec]

Just our income tax forms back from our CPA

We owe $10,000 Wow

We knew it was coming since we got an oil lease contract last year

Do you think its safe to send a check for that amount in the mail?

[BullsFan]

Send it certified with a return receipt requested. And check the address--sometimes if you send something to the IRS that way, there's a different PO box. (I'm assuming yours should be going to Dallas, right?)

[Old Dog]

If you send it like BullsFan suggests, you should get a receipt back that also includes the name of the person that signed for it's arrival. That always makes me feel somewhat better. I wish there was a better way to handle this type of matter.........

[pirate4state]

Originally posted by Antec
Just our income tax forms back from our CPA

We owe $10,000 Wow

We knew it was coming since we got an oil lease contract last year

Do you think its safe to send a check for that amount in the mail?

:eek: :eek:

Damn, makes my $1360 seem like small potatoes!

[navscanmaster]

Well, we got back good money (4875), but we had a kid and a combined income of 70,000 last year with max withholding. I know that this will go down in years to come, so I will enjoy it while I can (most of it went straight to savings anyhow.)

[crzyjournalist03]

Originally posted by navscanmaster
Well, we got back good money (4875), but we had a kid and a combined income of 70,000 last year with max withholding. I know that this will go down in years to come, so I will enjoy it while I can (most of it went straight to savings anyhow.)

wow...that gives me some relief...my wife just did our taxes and our return was well over $3000, and I swore she made an error...but having a child helps a lot apparently!

[BullsFan]

Originally posted by crzyjournalist03
wow...that gives me some relief...my wife just did our taxes and our return was well over $3000, and I swore she made an error...but having a child helps a lot apparently!

Having a child gives you an extra $3500 personal exemption which is above the line, plus an extra $1000 in child tax credit, which comes off your actual tax liability (and this is basically like putting $1000 in your hand).

[Ranger Mom]

Originally posted by BullsFan
Having a child gives you an extra $3500 personal exemption which is above the line, plus an extra $1000 in child tax credit, which comes off your actual tax liability (and this is basically like putting $1000 in your hand).

I miss my exemptions!!:(

[ronwx5x]

Originally posted by Ranger Mom
I miss my exemptions!!:(

My exemptions are grown and now someone else's exemption. All things considered I prefer it that way. I told one son-in-law last weekend (married 5 months) that I gave my daughter to him so there can be no refund since nothing was paid to begin with. He'll just have to keep her! Just joking, I dearly love both our daughters!

[44INAROW]

Originally posted by Ranger Mom
I miss my exemptions!!:(

ain't it the truth :(