IRS in pursuit of 4 cents...

[tsptalk]

IRS visits Sacramento carwash in pursuit of 4 cents...

"The letter that was hand-delivered to Zeff's on-site manager showed the amount of money owed to the feds was ... 4 cents.

"Inexplicably, penalties and taxes accruing on the debt – stemming from the 2006 tax year – were listed as $202.31, leaving Harv's with an obligation of $202.35."

 

[James48843]

No wonder we have a ballooning budget deficit.

He should have paid his 4 cents.

 

[Show-me]

FairTax, FairTax, FairTax, FairTax!!! And, these type of things will never happen.

 

[grandma]

No wonder we have a ballooning budget deficit.
He should have paid his 4 cents.

Isn't that the truth!

What do you bet the first IRS handler thought `not to worry - only 4 cents." So no letter sent to advise taxpayer of deficeit. Why pay postage for that?
Then another year or two down the road, someone needing to get on record for being eagle-eyed lays hold of it...
So now we may even have to pay the collector some travel time & car expense....
..just everyone trying to do their job, except the fellow who wrote his check for taxes due wrong, and shorted the government that 4 cents....

I did that once on a cable bill - mailed it in, was a day late, incurred .25 penalty late fee. About two months down the road I finally realized that .25 was multiiplying each month - ended costing me another whole dollar .... so all utilities became auto-deduct pay!

You know that's what happened to the car-wash guy - he's paying penalty on the penalties - I hope his carwash is profitable, so he can stay in the group of business folks that can pay their taxes -

 

[CrabClaw]

I got a check for 2 cents one time..It took like 40 cents to mail it. go figure

 

[jimijr]

Since income is reported to the nearest whole dollar, and taxes are levied to the nearest whole dollar, how can you be 4 cents short?

 

[Viva_La_Migra]

Since income is reported to the nearest whole dollar, and taxes are levied to the nearest whole dollar, how can you be 4 cents short?

Giving your two cents worth now costs four cents.

 

[Gumby]

Giving your two cents worth now costs four cents.

Sprint once sent me a bill for $0.01. I taped a penny to the bill and mailed it with no stamp and no return address. The next month I got another bill for $0.01. I repeated the above procedure again. The next month, I got another bill for a penny and a notation that stated my account was seriously past due. I again taped a penney to the bill and mailed with no stamp. The next month I got another statement that stated my account was paid in full. This was in the year 2000 and postage was alittle bit cheaper, but in the end Sprint Corporation spent well over a dollar to collect 3 cents from me. I have never had one of their cell phones since.
The funny part about the whole thing is that I didn't even owe them the penny to begin with.:nuts:

 

[Frixxxx]

Sprint once sent me a bill for $0.01. I taped a penny to the bill and mailed it with no stamp and no return address. The next month I got another bill for $0.01. I repeated the above procedure again. The next month, I got another bill for a penny and a notation that stated my account was seriously past due. I again taped a penney to the bill and mailed with no stamp. The next month I got another statement that stated my account was paid in full. This was in the year 2000 and postage was alittle bit cheaper, but in the end Sprint Corporation spent well over a dollar to collect 3 cents from me. I have never had one of their cell phones since.
The funny part about the whole thing is that I didn't even owe them the penny to begin with.:nuts:

I worked for Sprint in 1999-1998 in their network shop...They still talk about you!:toung:

I never had one of their phones!

 

[James48843]

Since income is reported to the nearest whole dollar, and taxes are levied to the nearest whole dollar, how can you be 4 cents short?

Rounding is only for individual tax filers.

Businesses don't round up or down. They are required to file based on the cent.