IRS:
this post was submitted on 12 Sep 2024
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savor the FREEDOM of you calculating your taxes.
Therefore ..... take five minutes and make up whatever calculations so that you either pay nothing or very little, send it in and let them figure it out.
No sense doing all that work if they already know anyway because they'll send you corrections and tell you what you have to pay.
If they just tell you, than that's fine I guess. The problem is, what of those other things happen.
You won't go to jail, unless your obviously trying to defraud them, and even then it's very rare.
You submit stuff, they say "actually we think it is this, prove that it's not", then you send what the actually amount is.
It's only bad when they just take your word and then send actually it's this amount, five years later... then they want all those years worth of difference with whatever the fed interest rate tacked on.
Yeah, as always, interest rates are a bitch...
As someone in a PAYG country, i love getting money every tax time