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Old 03-15-2010, 11:59 AM
 
Location: East Bay California
50 posts, read 159,738 times
Reputation: 80

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Quote:
Originally Posted by Uptown Oakland View Post
You're lucky I owe the IRS and State over $10,000. Why? Because I got a raise and I don't own a home. I have no idea how I'm going to pay this back.
Christ, I'm really sorry to hear that. I hope you can work somthing out. I really do.

They do let you do installment payments these days... but that's like saying 'instead of taking a pound of flesh all at once we'll take it an ounce at a time.'
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Old 03-15-2010, 12:03 PM
 
Location: East Bay California
50 posts, read 159,738 times
Reputation: 80
Quote:
Originally Posted by EscapeCalifornia View Post
California starts with your Federal adjusted gross income. So if you itemize on your Federal return and your mortgage interest went down, all else being equal, you'd have a higher Federal AGI. Throw in a slightly higher income and that explains paying more. California's income tax brackets have a very steep curve to them so some can easily get in a situation where their incomes goes up a little but their tax goes through the roof.
True -I did get slightly more back from the Feds, which is why I'm griping about the principle of the payment and not the amount.

It's getting scary out there, yunno?
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