So as the situation stands now ( I just opened my mail 10 minutes ago) I owe the IRS $4000 due to incorrectly filing my 2015 taxes. I started my first 'real' job the weekend after I graduated from college and I was being paid as an independent contractor. I worked at this company for 3.4 months before finding more permanent work as an employee (thank goodness). I filed my 2015 tax return in January of 2016 using TurboTax, which was probably a mistake since my situation was more complicated considering I was self employed for a portion of the year.
I am scrambling trying to gather all of my resources and papers from that tax season that I have to see what was incorrectly reported. The IRS form says that I only reported earning $5000, which is odd because I know I earned more than that and I wouldn't have lied on my taxes.. My employer at the time sent me a 1099-MISC that says they paid me approx. $12000.00 which sounds more likely. The trouble is that the IRS is reporting a shortfall of $12000 unclaimed by myself, for an income total of $17000 (the $5000 I claimed plus the $12000 shown on the 1099-MISC.) And the taxes on that income equates to $4000.00, which I really don't have..
This is all new to me, and much doesn't make sense still.. I just got married a few months back and we put all of our wedding money towards getting out of student loan debt. I could put the amount on a credit card because I figure that beats owing the IRS? The form mentions payment plans with accruing interest rates though, so I feel like this could be a long bumpy road of debt...
Where should I seek help to try and sort this out? Sorry if this is a long ramble.. I am a little frazzled.
Submitted January 06, 2017 at 06:33PM by banana_fish22 http://ift.tt/2j0ecHS
