Tag Archives: Owing Taxes

Back Taxes and Child Support

Today TaxMama hears from Krissy in the TaxQuips Forum who needs help. “I am married with two children, low income and my husband owes back child support. Last year I filed separately and ended up owing taxes. I had to set up a payment plan with the IRS to pay it off. I’d like to […]

Self Employment

Today, Dina from Santa Barbara, CA moans, “Help! We owe $14,000.00 in taxes this year. My husband has a small business and only made $61,000.00. What happened? How can one live and provide for a family of four on that? Now our savings are gone.”

National Standards

Today TaxMama hears several people who are having problems with the amounts IRS wants paid on their balance due, compared to the amount they think they can pay. In most cases, the amounts due are under $25,000.

Statistical Restaurant

Today TaxMama hears from Patrick in the TaxParlor who has this tale of woe, “In 2001 I withdrew about $70,000 from a 401K plan to open a new restaurant. I had just been laid off from my job and wanted to try something new. I opened a restaurant, and it failed. I ended up owing […]