"Our calls are up 280 percent," said Richard Boggs, founder and chief executive of Los Angeles-based Nationwide Tax Relief, a firm that helps delinquent taxpayers resolve tax issues.
"We've seen a huge rise in what we call the rookie delinquent taxpayer," he said. "They are incredibly scared, and they have no idea what's going to happen to them because, God bless them, they've never owed before." More of the self-employed, who are required to pay taxes each quarter, are likely to end up with back taxes.
The article goes on to read that the IRS has been given more flexibility in their collection actions. Take for instance this elderly lady in Austin, Texas in which her $3,000 debt to the IRS grew to around $60,000 in taxes and penalties over 16 years despite the fact that she paid off the initial debt within six months!
I fall into one the "self-employed" category as do most online sellers. Procrastination is the name of the game in our household when it comes to tax time. We always say we'll do it earlier each year but for some reason...it's a pill that we don't like to swallow especially with today's economic downturn. Several hours later, a gazillion questions and even more numbers...the taxes are done. I'm breathing a sigh of relief...yeah right....and have to say, it really is a great thing for a diet..where did that come from?...just think of how much those $$$ weigh and you can shed pounds in one sitting!!
So...what the heck does a piece of jewelry have to do with taxes? Today only...take 10% off anything in my shop. Yesiree...it's called "the tax man is coming" and I'm feeling svelte!!