Let me start by saying that I realize how much of a fuckup I am and I didn’t start acting like an adult until recently.
In 2018 I had a 1099 job. I didn’t even realize it was a 1099 job because I was, and maybe still am, an immature loser who didn’t take responsibility for his finances.
Long story short I didn’t file any taxes that year, and several other years.
I finally managed to file all of my taxes this year, and they look like this.
Tax year 2018: $7349 owed on $36209 AGI, $3086.57 penalties, $1,187.57 interest, $11,623.14 total owed Cashed out Roth this year.
Tax year 2019 paid. Had a payment plan and paid everything off eventually.
Tax year 2020: $2020.00 on $30889 AGI, $435.00 penalties, $39.84 interest, -$1337.00 paid, $1,157.84 total owed
Tax year 2021: $2101.00 on $18092 AGI, $2101.00 total owed, I think Filed by mail, not processed yet and haven’t paid yet. Made a little money selling stocks this year.
Paid all state taxes.
Adding that all up puts me on the hook for at least $14882
I have $7700 in stocks and about $2000 in cash to my name.
Current salary is $55,000. Just started this new job.
Obviously I have bills to pay, living at home rent-free right now but won’t be able to stay here much longer. I don’t have to point out that this will completely wipe me out and then some. I’m pretty depressed about the fact that I owe so much in penalties and late fees. Wondering if filing taxes at all was a stupid move.
No idea what to do here and not expecting much sympathy but do I have any other options? I don’t even think they will let me do payment plans given my history. What can I do?
Edit: Credit score is 810.
Edit 2: I know this is the type pitiful situation a lot of people here may scoff at, but I do really appreciate every individual act of kindness and words of encouragement.
Submitted June 28, 2022 at 03:52PM by ApproachingTarget https://ift.tt/bUz9Hwu
