The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Best laid plans - gang aft a'gley!||Date: 1/15/2014 5:46 PM|
|Author: TMFPMarti||Number: 119858 of 122041|
So, for 2013 I had this all planned out and was heading for a refund of $80 and the year ended. Ready to submit my tax return. I just received an email from a Golf Tour that I play on each year, travelling the country and playing bad golf and having fun. They are looking for a W-9 to report my gift card winnings to the IRS. It would appear that my refund will now turn into a debt of some $300 (although I don't know what my winnings were - it appears that they are north of a $1,000 and this is in Gift Cards not cash!).
so my question is - is it too late to move to Canada? - No! that isn't my question -
MY question is whether 2013 was the first year you planned on underreporting your income.
For safe harbors see Publication 505.
Rule Your Retirement Home Fool
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|