Tax education – read fine print
No wonder a person can lose their temper anymore, particularly when they are presented with tax guidelines that penalize them for paying their taxes.
I had the misfortune of going to the local municipal EIT tax office and questioning a penalty my son received because when he paid his taxes in a timely manner, his tax due was over $240, thus a penalty was in order.
Why? Because he should have paid them quarterly. Although I should be glad he has a job and works 12 hours a day for a gas company, I will chastise him for not looking into his crystal ball and doing the calculations on his variable earnings so tax due at the end of the year is less than or equal to $240.
Apparently if your employer has not taken quite enough EIT out and you have not monitored your variable earnings, you get a penalty.
Yes, I am venting and I am sure some one will enlighten me as to how dumb I really am, but is it not enough to just make sure you pay your taxes? I would appreciate someone letting me know the logic behind this and the error in my thinking.
I guess there is always something new out there to learn when it comes to government.
Submitted by Virtual Newsroom