Author
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Topic: Income Tax Checking?
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fern hill
rabble-rouser
Babbler # 3582
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posted 04 April 2006 10:52 AM
I did my taxes yesterday (why is it plural?). I'm self-employed and pay quarterly instalments, using the wild guess method, so it's always breath-holding time to see how close I got and how much more I have to pay. (This year wasn't bad.)Here's my question: Does anybody know how the Revenoorers handle these forms? Are all of them checked for arithmetic? Some randomly checked? And e-filers don't have to submit receipts? My experience is really varied. Some years, they accept my numbers. Other years they make minor adjustments or corrections. One year I was fined $100 for not sending enough in instalments. Other years, I've not sent enough and they let it go. One memorable year, they demanded $4,000 more. I hollered and it turned out they had made a mistake. Anybody know?
From: away | Registered: Jan 2003
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thwap
rabble-rouser
Babbler # 5062
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posted 04 April 2006 11:59 AM
It might be plural because its both federal and provincial taxes.It might also be (for folks who have more complicated finances as opposed to getting deductions from pay cheques) that there are different taxes that you have to pay. They always check mine. They tell me that I [H&R Block a couple of times actually] miscalculated and they give me more money back. I heard that in the US, the IRS has made it a policy to check the returns of low-income earners and to let the big fish pass unmolested.
From: Hamilton | Registered: Feb 2004
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