I owe $36,000 in income tax for a year during which I earned NO income

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posted on Apr, 19 2012 @ 09:14 PM
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off-topic post removed to prevent thread-drift


 




posted on Apr, 19 2012 @ 09:26 PM
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reply to post by smirkley
 


That would be "Sheople", but don't mention it. However, Don't let my rude retort sabotage any future relationship between us in the near or not so distant future. I don't even live near the water. ~$heopleNation

edit on 19-4-2012 by SheopleNation because: Typ0



posted on Apr, 19 2012 @ 09:45 PM
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reply to post by biggmoneyme
 


actually there's studies about this. heres one and yes it's actually sad,that convicts get better treatment then the civilians of America, they have free healthcare, dental,education,housing and even recreation. while it all comes out of your pocket and goes into the private owners pockets

the US justice system is hands down the most fallible and and broken system ever invented, most people with small crimes get charged on whatever the judge feels like then sentences em to their "friends" prison, and guys what one guy goes to jail for something he didn't do, the other 2 get paid and the country tax payers gets robbed

and it's the same with doctors and insurance the same broken ass system, you go in for a chest pain or something, then bam you just paid $700 for some name brand aleve the doctor get his cut insurance takes theirs, and the individual get's raped

Insurance should get a taste of insurgence



posted on Apr, 19 2012 @ 09:53 PM
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I hope something happens in your situation that this does not repeat itself in the future.
Sorry to hear you had to go through this, I really commend you for putting your children's education first. So many kids are facing student loans that will put them behind the 8 ball for many years. College tuition is outrageous compared to what it was in the 1970's when I was in school.

Wish the best for you and your kids. My sister is without retirement savings and her kids told her "Mom, we are your retirement." She gave them her best and they are happy to return the favor.

If you were able to get on Social Security Disability last year and need to withdraw anymore from your 401k, I think you will be eligible to do so without the early withdrawal penalty for your 2012 Income Taxes. I was able to do that on my IRA withdrawal last year, I just had to prove that I had been on Soc.Sec.Disabilty.



posted on Apr, 19 2012 @ 10:20 PM
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reply to post by timidgal
 


timidgal, I hope that you read my first response to your thread post my friend. I hope that your situation works out the best for you. ~$heopleNation



posted on Apr, 19 2012 @ 10:51 PM
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Originally posted by timidgal
This is one of many perfect examples about what is wrong with the US tax system and how our social and fiscal systems do absolutely nothing to take care of those who support it.
...


I am sorry to hear what you are going through, but perhaps it is time for your kids to get jobs, ANY job and help you.

I was in a similar situation right after i finished high school. I was on my third trimester in college when my parents got into an economic crisis, and I chose to sop studying and help them. I searched for jobs, which was hard even back then, more so with only a high school diploma, but got a job in retail, working for Incredible Universe in Miami South Florida.

After my parent's situation got better I joined the military, and went to college at Miami Dade studying psychology, and also graduated from ITT Tech in Florida. I graduated with honors with a 3.97 gpa, and graduated as salutatorian. in fact the Valedictorian got the same gpa as I did, but they chose him because he was going to day school meanwhile I went to night school.

Anyway, perhaps it is time for your kids to help you, and to get any job they can get, even if it means meanimum wage, as long as they help you.

Are there problems with our system? yes, but you don't know that you got it better than most people in this world, even people living under "socialist" systems, which got it worse than you.

And btw, please do not tell me about Britain, because Britain has a lot of problems with it's youth at this moment, more so than in the United States. If things were so great in Britain they wouldn't be having so many young adults commit so many crimes, which they have higher crim rates than any other European nation, and higher than in the United States.

edit on 20-4-2012 by ElectricUniverse because: (no reason given)



posted on Apr, 19 2012 @ 11:33 PM
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reply to post by timidgal
 


Taxes.....perhaps the biggest bull# scam ever conceived on the planet!! Yep gotta love having to pay those rat bastards that supposedly "REPRESENT US" for them to in turn spend the $$$ on crap we never wanted such as wars, and more wars, bailing out banks, sending BILLIONS to Israel every year FOR WHAT I DON'T KNOW, and the list goes on and on!!

They take 1/3 of my paycheck, gouge the hell out of me on the price of a gallon of gas, TAX you repeatedly on things where the tax had been initially paid such as used cars, and after all that....I barely make enough scratch to live a modest life hovering very close to the poverty line and I just found out that in addition to all that, I am to pay $3600 MORE in taxes!!! Arrrggghhh I am ready for this entire freaking country to burn in flames!!

I read an article the other day where it said that dollar for dollar the average working male today takes home the purchasing power of THAT SAME ADULT MALE DID IN 1973!!! We are getting RAPED here folks!! When will enough truly be ENOUGH ALREADY! Damn just thinking about this crap is making my blood boil. If we don't do something and do something soon....we will learn to become grateful to be able to just have CARDBOARD to put over our heads to live under!!



posted on Apr, 20 2012 @ 12:05 AM
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Originally posted by Newbomb Turk
Taxes.....perhaps the biggest bull# scam ever conceived on the planet!!
...
I read an article the other day where it said that dollar for dollar the average working male today takes home the purchasing power of THAT SAME ADULT MALE DID IN 1973!!! We are getting RAPED here folks!! When will enough truly be ENOUGH ALREADY! Damn just thinking about this crap is making my blood boil. If we don't do something and do something soon....we will learn to become grateful to be able to just have CARDBOARD to put over our heads to live under!!


That is the socialist way. It is called "progressive taxes" which progressive Democrats under a progressive Democrat President, Woodrow Wilson, implemented back in 1913, at the same time they also implemented the Federal Reserve Act aka "the Feds".

It even goes against the Constitution, because according to the founding fathers EVERY AMERICAN has the right to PRIVATE PROPERTY, yet through the taxes/the IRS, even after we have FULLY PAID OFF ANYTHING we have to keep paying taxes for it FOR LIFE... That is NOT the definition of PRIVATE PROPERTY...

This system was set up to slowly take away the right of American citizens of owning any private property... It is anti-American and fundamentally wrong, because if for any reason you can't pay your taxes any year on your property, including your home, the rich socialist elites can take away that property from you...

Welcome to the brave new world of global socialism...

edit on 20-4-2012 by ElectricUniverse because: (no reason given)



posted on Apr, 20 2012 @ 12:06 AM
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reply to post by timidgal
 

www.freedomfiles.org...

plz.. you read? ^_^



posted on Apr, 20 2012 @ 01:23 AM
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Originally posted by Epirus

Originally posted by timidgal


I feel for you and I know the system is against us but you are withholding major facts about your situation. You didn't have to pay 36k on on the disability you received. If your story is true...you had to pay major tax for early 401k withdrawal, you could have asked on any forum on the Internet including this one and realized there is a major tax on most early retirement withdrawals. I feel for you because it's broken but your ignorance and lack of prior research in the matter(I assume lack of research due to your upset attitude) isn't a reason to pout here...the reason for the promised return on retirement plans is partially due to the fact that the money is to held and invested until XXXX year at which point you'll start receiving it and taking it early disrupts the process. The early withdrawal tax is absurd but not hard to predict with one simple google search. The fact of the matter is that you did not do your homework and liquidated your 401k early without research.
edit on 18-4-2012 by Epirus because: (no reason given)
edit on 18-4-2012 by Epirus because: (no reason given)

Epirus,

If you really read my post and stop focusing on points to criticize, you'll see how it's a ludicrous assumption to state that I'm withholding major facts with such superiority. What would be the point? The impetus for writing my thread was not to absolve myself of paying taxes, but to highlight that the government provides unconscionable tax breaks to the 1%, gives much needed help to those in great need with money put into the system by folks like you and me while showing no compassion to the middle class who has been the backbone of the system. The hardship provisions are way too restrictive and that was my point. Trying to find faults in my explanation or chastising me by assuming that I didn't do my homework merely serves to deflect the purpose of the thread.

Firstly, yes I did have to pay taxes on the $38,000 disability benefits because it was a benefit paid for by my employer who would rather take a small premium tax deduction instead of giving the option of post tax premium payments to their employees. I would have much rather paid the $35 in monthly premiums than have 28% tax due on the benefit.

As for 401(k) penalties, I knew full well of the consequences but had no choice. I no longer worked for the company where i kept my retirement plan so a loan was out of the question. Again, you need to be continuously and permanently disabled under the hardship provisions which I think is way too restrictive. I fully understand the consequences of my actions but the inequities of our system was the focus of my thread and not whining about taxes due.
edit on 4/20/2012 by timidgal because: (no reason given)



posted on Apr, 20 2012 @ 01:31 AM
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reply to post by NightSkyeB4Dawn
 

Thanks for the advice and I'll steer clear of those folks!



posted on Apr, 20 2012 @ 07:26 AM
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WOW that sucks man. I really hope your able to find a solution to your problems and solve them swiftly



posted on Apr, 20 2012 @ 07:59 AM
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reply to post by timidgal
 


I am so sorry for any difficulties that you may be experiencing. Perhaps by now you are starting to realize that there are two sets of rules in our current society, one set of rules for the rich, powerful, thieving elite and one set of rules for you and me. What we are experiencing is a society, and economic structure which based on lies and deception...it is a bunko artists dream..grab you pitchfork and start toward the castle...



posted on Apr, 20 2012 @ 08:01 AM
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reply to post by timidgal
 


Personally as a person that got put on disability about 3 years ago. i dont think your telling the full story. My wife still works we had to pay tax on her income. or is this from a disability from your insurance plan? when i first got placed on disability where i use to work my insurance covered some of my time off now that money is taxable but once you prove your disabled to the state and that takes off that is not taxable . Are you including your house tax and that stuff?
as for money for kids for collages i feel for ya but im in same boat. But to be honest here for you to get taxed 36,000 your income had to be around what 100k? and if thats the case if your up that high quit your crying pay your bill. people live off of alot less then 36,000 a year. crap man i have supported my family of 5 under 36k a year



posted on Apr, 20 2012 @ 08:05 AM
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reply to post by timidgal
 


Oh hush! Go back to work!



posted on Apr, 20 2012 @ 08:29 AM
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Originally posted by gaurdian2012
correct me if I am wrong but if you refuse to pay (because technically Tax Is illegal) You run the risk of going to jail.............................something is sooo wrong with the system


Comments like this are so blatently false. Please do some reasearch.

evans-legal.com...



posted on Apr, 20 2012 @ 08:46 AM
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reply to post by timidgal
 


Stop pissing and moaning you could have been born in Zimbabwe, then you would'nt have all these problems with taxes. You would be content digging through garbage for your next meal.

Sounds like you still have a roof over your head and your not starving. You need to suck it up until you have some real problems. Then come and whine away.



posted on Apr, 20 2012 @ 06:30 PM
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Originally posted by xyankee
I am sorry to hear that this happened to you. But I would like to also point out that situations like this not only wrek families economically but emotionally as well. I had a similar situation with an insurance company over long term disability. Like the Fed, the only time they move fast is to collect money. They are forever slow when they have to pay.

Take for example a middle age man gets hurt can't work is forced to fight tooth and nail to get the benefits he rightly deserves. In the mean time he looses his house, his wife leaves him because he is depressed and miserable. Well he then says enough is enough, I have lost everything, He then goes postal on the people in the building of the insurance company because if nothing else he is going to get retribution. For all the wrong that has been done to him.

When something like this happens, everyone is quick to just say "well there is another lunatic" but don't realize that the system is the problem. Personally, I cannot believe that this scenario does not happen more than it does. I know If this happened to anyone of us, (hard working, deserving americans)I am sure retribution would be high on everyones list.



posted on Apr, 20 2012 @ 08:17 PM
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Originally posted by lokdog
reply to post by timidgal
 


Stop pissing and moaning you could have been born in Zimbabwe, then you would'nt have all these problems with taxes. You would be content digging through garbage for your next meal.

Sounds like you still have a roof over your head and your not starving. You need to suck it up until you have some real problems. Then come and whine away.


Look around, you can always find someone in worse shape than you. The author had every right to share her experience. Feeling like you've been financially raped it no picnic. It's hard losing what you worked for and having to deal with a disability. Those are major stresses.




You need to suck it up until you have some real problems


I give you a big fat zero on your empathy level. You like kicking someone when they are down? You and moonleaf can have a song on me:




posted on Apr, 20 2012 @ 09:27 PM
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Man that stinks! Retired from the tax field 2 years after 10 years behind a desk. Seems that some of that should be able to be taken off the table. The COBRA premiums should be applied to the 401k distribution - but only if you were unemployed for at least 12 weeks. Not sure how off on disability affects it.

Any break for either a HOPE, Lifetime Learning Credit or tuition and fees deduction? 2011 is the last year I believe.

Any hope of working out an agreement with the ex-spouse to allow you to take both dependents for just this year? I've seen it done with friendly exes.

Ugh. I just don't see how this wouldn't fall under the 401k hardship rules. You really should have a second or third person look at your return!






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