We waited most of last year to get over half our tax return because of our adoption in 2009. It cost us over $75 in long distance to fax in the additional 'required information'. And yes, it had to be faxed. The fax just took forever to go through because there is only one fax line for the IRS (or at least for those in the state of Texas). We would get two identical letters, each in duplicate (that means quadruplicate!), every time that there was a delay, and another delay and another and another. Finally when our refund arrived it was slightly more than we expected. Concluding the extra was interest for the amount the IRS held onto for the additional seven months of processing, we deposited it and went on, grateful to finally be done with 2010 taxes. The interest came to about 1.5% of the amount that we were due. Today a 2011 interest earned statement came from the IRS. Yep, they are going to charge us tax on the interest that they paid us because it took them so long to get their act together. And the interest we earned was LESS than the cost of the fax! All I can say is, REALLY?!?!
Sorry for venting. I just know this or similar has happened to many adoptive families. How sad. We have enough adjustments to make without our taxes taking up as much time as a part time job.
2 comments:
If all it is is a statement of how much interest it is that does not mean they are going to charge you income tax on it. You should get a form from everywhere that you got interest...like a savings account, etc. But you have to make so much before it ever becomes taxable or where you even have to report it.
Thanks for the insight, Leslie.
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