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I Owe the IRS Almost $60,000! What Should I Do?

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Опубликовано:

12 май 2021

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Комментарии : 167

@timwhalen 3 года назад

I’m a tax accountant. You can file your tax return any time before April 15th, but your taxes are NOT DUE until April 15th. You are not required to make your payment when you file your tax return. Filing your tax return and paying your tax due are separate events.

@colinmclaughlin3490 3 года назад

@Johnny Five for 2020, yes. Individuals were extended until tomorrow. (5/17) lol

@dhol2449 Год назад

Tim I'd like to chat about some tax laws if your ever available

@THEECYBERMACKIN 3 года назад

These people smart enough to make all that money but not smart enough to hold onto it. What a joke

@jculver1674 3 года назад

Having a high income without managing it is like having a high IQ but not thinking. It kind of makes the number meaningless.

@MR3DDev 3 года назад

Next call: Dave police are at my door, should I use my savings to pay the IRS?

@barbieblue3336 3 года назад

Do you have any available rice & beans, beans & rice? Wrap it in fleece to see if they will accept it?

@masinaj.6942 3 года назад

“I feel a little better but still can’t breath” 😂😂

@tararockrevivalbebe6427 3 года назад

This stresses me out. I can only imagine how she feels.

@leadnsteel1428 3 года назад

It's the worst kind of debt... worse than student loans or mortgage and car debt

@shuckingnerds8798 3 года назад

@@leadnsteel1428 why. Idk a lot

@istvan5276 3 года назад

She is OK with it, otherwise she would have payed it ages ago.

@thomasarnoldcoe6527 3 года назад

I won’t know as much as Americans, but not paying the IRS can land you in prison.

@serena1785 3 года назад

The IRS can seize your bank , accounts, pay checks, home, property ect .... pay your taxes first!!!! Why don’t people understand this😰😰😰😰😰

@AndyinMTL 3 года назад

How bout…..idk paying them?🙄🙄🙄🙄

@edkennedy7952 3 года назад

lol

@LifeofKairo 3 года назад

Put the IRS at the TOP Or they could send you to ROCK BOTTOM

@costco_pizza 3 года назад

What is the worst they can do? Send someone to your house to take you away? I would just not pay it.

@ClaxtonBay123 3 года назад

@@costco_pizza 😂 you can't decide to NOT pay. They would just start taking money right out of your paycheck. Or come after your assets

@LifeofKairo 3 года назад

@@costco_pizza Uhm yes - the police 👮

@dodavis419 3 года назад

@@costco_pizza that's not how it works. They try to work with you with payment plans or extensions. But then when you're just refusing to pay it goes to collections, and the penalties and interest continues to accrue until the balance is paid off. And then your passport can be revoked, etc.

@phillipmoore6249 3 года назад

When she’s done with all of this.....the feeling will be worth the grind TRUST US

@musicpro7278 3 года назад

I'm just glad I was smart enough to never get into debt

@RABrillantes 3 года назад

0:30 I love Dave & Christy’s reaction when $60k IRS was mentioned. Can be summed up -> 😳😳

@DebtFreeDad 3 года назад

Ahhhhhh. I been down the owe the IRS road. Worst people to owe by far

@Squre Месяц назад

Just tell them no it is my money and I will reserve my right to keep it.

@darylbaptie5159 3 года назад

Her tone of voice was suitable for the payment of a six pack of Bud, not a 60k IRS bill...

@SamWesting 3 года назад

Other than owing loan sharks or a payday lender, few things are worse than owing the IRS.

@dancalmpeaceful3903 3 года назад

Owing them is WORSE than owing the mob.......

@dodgeplow 3 года назад

@@dancalmpeaceful3903 that's how they busted Al Capone. Always pay your taxes

@mrFalconlem Год назад

A title loan on your car is worse, almost lost my truck. Had to come up with 1500 bucks to pay it off. What a nightmare.

@blackworldtraveler3711 3 года назад

Ever since the IRS lost the check I mailed to them, then threatened to take house,furniture,car,etc. in a letter,voided my paycheck embarrassing me at work, I’ve been paying extra the past 25 years. They found the check within three days and no apology. I also began having my taxes done by a top CPA firm.

@thebman8787 3 года назад

Sue the POS IRS, wish that were possible.

@serena1785 3 года назад

It’s not about how much you make but what you do with what you have! Please please people save yourselves a lot of grief and pay your taxes.

@evalina98000 3 года назад

"I still can't breathe", 😯 Ho! Uncle Dave, you got your point across 🤣

@GwenMotoGirl 3 года назад

The IRS won’t let them pay the newer debt before the old.

@DoctorSmartyPants 3 года назад

That's true. Whatever you owe them, from whenever when, they apply any payments you make to the oldest debt.

@shikha5246 Год назад

Would still file both if you’re a year behind file both old and current new one to be safe. Pay towards old first

@user-fs3wz8hw9k 3 года назад

Moral of the story: pay your taxes???? THis lady acts surprised but any simple income tax calculator couldve told her how much she should be paying. Research shouldve been done ahead of time

@djpuplex 3 года назад

Exactly why I don't fool around with my with holdings, I'd rather them owe me than the other way around.

@jeffmorse5599 3 года назад

IRS if you go to them and address it will treat them fair and set up a payment plan. At that kind of income should be able to knock it off quick. and set up some withholdings for next year.

@jacobg8640 3 года назад

I don't think filing has anything to do with when your taxes are due. They are due on the same date, May 17th, regardless of when or even if you file. So it doesn't hurt to file to make sure your return will be accepted and avoid paying an even worse failure to file penalty.

@cathyl7944 3 года назад

No, it’s due when you file or you get fined. I had to pay this year and encountered that.

@TheTurdballs420 3 года назад

Don’t worry about it. You’re doing great compared to Al Sharpton

@mikel7800 3 года назад

💀💀💀

@talyahr3302 3 года назад

I don't get it. What's up with Al Sharpton?

@deanmaksimowicz4165 3 года назад

@@talyahr3302 In the past he has been accused of tax evasion, some say amounting to millions of dollars.

@mariejones7136 3 года назад

@@deanmaksimowicz4165 who the heck is that guy anyway?? LOL

@dancalmpeaceful3903 3 года назад

@@mariejones7136 No one of ANY value....I assure you. He is a mistake of a human....

@tgamirov 3 года назад

Maybe once I make as much as they do I will understand how one can owe that much in taxes

@aceplustaxresolution_getac3624 3 года назад

Back taxes of over 54K will bring a problem on Passport getting renewed or issued (in addition to other problems). Sometimes, passports even can get revoked or denied. I recommend finding resolution options for tax relief.

@0neofthem 3 года назад

So sad when you’re this old and still carry these absurd debts.

@colinmclaughlin3490 3 года назад

As a CPA, I love tax videos so I can read all the comments. XD

@EricFinanceTips 3 года назад

Work out a payment plan as quickly as possible with the IRS. Would not be wise to ignore the IRS as they can garnish your wage.

@phackdaphish 3 года назад

The question is "What did she do?"

@tomdrummy4984 3 года назад

What should you do? Pay the IRS their money !!

@vjs4539 3 года назад

Your money. Not theirs. But you still have to pay. The IRS is a cartel.

@EarlyBirdCraft 3 года назад

I can relate to this lady. Husband and I share one phone charger. 😃

@barbieblue3336 3 года назад

Worst phone

@mmcgahn5948 3 года назад

Simple answer: Pay them

@kylewinters384 3 года назад

For the record your taxes are due on the due date no matter when you file. Even with an extension

@FourWheelFinance 3 года назад

Good Lord the IRS has to be about the worst group to owe money, (behind cartels or gangs lol) it amazes me how people don't prepare or try to understand how it all works.

@dans3718 3 года назад

What do you mean, "behind cartels or gangs?" What do you think IRS is?

@FourWheelFinance 3 года назад

@@dans3718 Hahahaha I have to agree with you there good point

@jimroscovius 3 года назад

Easy answer - pay it off. Live on nothing and pay it off in two years. You owe it, so pay it.

@nemmrrc 3 года назад

Christy's expression the whole time is golden.

@yourippedmyshirt1269 3 года назад

Ummmm. Pay it?

@rosekinight170 3 года назад

I have been doing the big upside triangle for years but I am definitely going to try the smaller ones. thank you

@queen.kristal8395 3 года назад

Oh wow if I was you I will try to sell anything U have or sell the house to pay off the debt.also $500 isn’t enough because and interest and penalties I will bump it up to maybe $2000 a month maybe more if u can and live way below your means to pay it off.

@barbieblue3336 3 года назад

Yes, they have $

@tishagonzalez725 3 года назад

Run for your life

@sarahhockey2420 3 года назад

Get a good accountant for tax preparation if you a small business owner

@MillionaireMindsetClub 3 года назад

Ummmm pay them?

@hardchooligan 3 года назад

Let me guess before watching,pay it?

@theramseyhow2044 3 года назад

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@glorymanheretosleep 3 года назад

IRS really needs to accept that they are not owed that money and just write it off. The IRS is a sure-sign that the state has all the power over the individual.

@taram4414 3 года назад

They are owed the money. And they will take it. They will garnish the caller's salary if possible (if she does not make payments). The caller should have paid her taxes, as it is her civic duty to do so.

@HoffyRS 5 месяцев назад

@@taram4414no it isnt. Before 1913 income taxes were deemed UNCONSTITUTIONAL. Until the tyrants all got together and made the 16th amendment. F the irs. Have fun taking my paycheck when i dont get a paycheck. Its pure extortion. Society functioned just fine before 1913 had all the public services we have today

@donaldbothe3518 3 года назад

my work did the exact same as hers. they were not taking out federal taxes from my paycheck becuse i did not make enough that year but i have gotten that sorted so that wont be an issue like what this poor lady has to deal with

@mmctavish6666 3 года назад

Get engaged to a 72 year old woman! (Avid Dave fans will understand)

@NaNa-lt1po 3 года назад

😝😝 good one

@rudesoto 3 года назад

😆

@cheesebear3353 3 года назад

Excellent!

@EarlyBirdCraft 3 года назад

My husband’s grandma is like 83 years old and she jogs ever morning. Don’t engage to her

@jimcameron9848 3 года назад

You need to think of the IRS as your landlord.

@felipecervantes7881 2 года назад

40k Bill arrived at my house because the state of California did not process the return that was sent to them!

@ghjong001 3 года назад

I have a dumb question - how do people end up with IRS debt? Every job I've had required me to fill out a W-4 that tells me how much gets withheld, and it shows up right on my paystubs every month.

@crystalhull1677 3 года назад

They're 1099 and are responsible for their own taxes. And they're not doing it.

@michael_harren 3 года назад

I got in a lot of debt when I first started working for myself as a piano teacher and (stupidly, I know) just avoided handling my taxes because I was so overwhelmed by it. It’s really challenging to figure this studf out. I am much better about it now, but still dealing with tax debt from stupid mistakes in my past.

@DoctorSmartyPants 3 года назад

They, or at least she, is self employed

@glorymanheretosleep 3 года назад

You have to file a 1099 on your own. No one reports that to the IRS except for you.

@shikha5246 Год назад

1099 doesn’t withhold so it requires more discipline and brain power..1099k is the worst though 😭

@user-sq2ey4re4x 9 месяцев назад

Can anybody confirm if what dave said is correct? Is using a credit card better than a payment plan with the irs?

@ProbablyNot1121 3 года назад

IRS probably listening to this call. She should of used an alias 😅🏃‍♀️

@Minibike817 3 года назад

Pay them!

@larrykramer2761 3 года назад

Dave doesn't understand how taxes work. Taxes are required to be either withheld or paid quarterly so they are already past due, not due "next week".

@michaelmunoz8663 3 года назад

I own to the IRS too 🤦🏼‍♂️

@Minibike817 3 года назад

Pay them too

@EarlyBirdCraft 3 года назад

How?

@lsdgotaholdonme 3 года назад

i like dave but it is amazing how little he and others know about the income tax and the law surrounding it

@murica1898 5 месяцев назад

If you are smart enough to owe the irs 60k than you are smart enough to figure how to pay the irs

@sunnydays4966 3 года назад

IRS not as bad a DHS with power.

@vjs4539 3 года назад

Taxing income is so wrong.

@johncameron4194 3 года назад

Unfair that he muted her since she still had a question

@alexroque4165 3 года назад

Just go Deliver pizzas

@brianevans6328 3 года назад

Sell the car.

@sami-9233 3 года назад

MIKE it is the most honorable responsible way Do what you are supposed to do even deliver pizza These People have hidden taxes a long time Their chickens have come to roost! Grow up!

@DanielGarcia-zz9eg 3 года назад

Wait!!! U can be penalized for not paying the right amount each quarter. Thats BS. If thats all I got, that's all I got till April 15

@SeanBaker 3 года назад

Yes. That's correct. Gotta pay on time each time.

@EarlyBirdCraft 3 года назад

How do people end up owing so much to IRS?

@sherriemyles2776 3 года назад

They are not having taxes automatic come out their check or paying their taxes when they filed for refund.

@edkennedy7952 3 года назад

How can they make all this 'supposed' income but don't pay their debt?.....So either their lying about their income or their just dumb.

@DoctorSmartyPants 3 года назад

They are self employed and you need to put money aside regularly for taxes. They simply failed to do that, knew they should have, and just keep digging holes for themselves.

@RJ-cv2uw 3 года назад

RUN

@DraculaMaviss 3 года назад

Don't mess with the IRS

@thomasarnoldcoe6527 3 года назад

Dave and Rachels’ faces. You have all that money and you are in debt!?

@aliciacarter2443 3 года назад

She needs an accountant smh

@queen.kristal8395 3 года назад

No she just need to get taxes taken out her check and get a w-2 form.if it’s a business yes she needs an accountant.

@barbieblue3336 3 года назад

Yes, she has "clients"?

@colinmclaughlin3490 3 года назад

@@queen.kristal8395 she sounds self employed. She needs an accountant to make estimated payments throughout the year

@johncameron4194 3 года назад

You get a CPA to help you deal.

@DoctorSmartyPants 3 года назад

Title is wrong. No student loan.

@jeffdorris5321 3 года назад

Nice work ✨🎆🌠

@addisontow3856 3 года назад

Make sure to pay your robber barons

@mariejones7136 3 года назад

my car needs like 1000 worth of repairs ..its a 2004 ..Im driving my boyfriends car..Is it worth it to fix my car or should I just get rid of it.......I have to use my savings.......I also have to pay a loan of 1000 so that comes out of my savings........I also need a dental implant .......which I cant get since they are 3000.........