MF'ing taxes

A dear friend of mine somehow went an entire year without noticing that no federal taxes were witheld from their paycheck. Anyway, looks like they owe a ton of cash to the feds. Would getting an accountant involved help drop that total? Thanks in advance, smart money people.

 

i think you can file for a six-month extention. that may help give you (er, your friend) time to come up with the dolla dolla billz.

 

Ah, good call. I wish it was me, I'd rather deal with me than them.

 

Is this person considered a contractor? The payroll department should have caught that kind of mistake if not. That sucks!

 

How do you NOT notice no federal taxes being withheld for a whole year? Do they ever even look at their check? Still, hope they come out of this without having to part with their underwear...

 

I think even with an extension you pay penalties and interest, but I'm not sure. You're just not in violation of the law, from what I understand, which I suppose is important.

 

That pretty much sucks. Kinda strange he/she went a whole year without noticing though. Gots to pay the Piper sooner or later.

 

Nah, they never looked at their check. They are salaried and it's the same very two weeks so they never bothered to look at the stub.

A trained accountant wouldn't get the total owed any lower? I always do my own taxes so I don't know if they'd help or not.

 

When you file an extension it's for an extension on filing time NOT on paying. There are going to be penalities and interest involved even if they do file and pay before April 15th.

The good news is that if they never looked at their pay check then they entered their regular pay amount as the deposit so all of the money should still be in their account. I guess they don't balance their checking account either?

 

yeah, the extention would just be a way to get more time to beg, borrow or steal.