Showing posts with label 4 cents. Show all posts
Showing posts with label 4 cents. Show all posts

Sunday, March 14, 2010

The IRS, FBAR and you.

Its only hours to go before the ides of March, yet the IRS decided it was fed up with one of those pesky US citizens who tried to cheat the system.
Arriving at Harv's Metro Car Wash in midtown [Sacramento] Wednesday afternoon were two dark-suited IRS agents demanding payment of delinquent taxes. "They were deadly serious, very aggressive, very condescending," says Harv's owner, Aaron Zeff.

The really odd part of this: The letter that was hand-delivered to Zeff's on-site manager showed the amount of money owed to the feds was ... 4 cents.

Inexplicably, penalties and taxes accruing on the debt – stemming from the 2006 tax year – were listed as $202.31, leaving Harv's with an obligation of $202.35. (Sacramento Bee)

The FBAR filing deadline for tax year 2009 is June 30, 2010. Most tax attorneys interpret this to mean that the FBAR must arrive at the Treasury by June 30th, not simply be postmarked by then.

And if you think the IRS doesn't care -- why would they bother going after someone for a three year old debt of 4 cents?


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