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The Squeeze

February 28th, 2013 at 09:10 pm

So after some thinking, I have changed my budget for the next month an a half. Debt repayment will have to take a back burner while we sort out this tax issue. So far I have found $680 to apply to the $4000. Plus $1200 that we should be getting for our unemployment taxes in the next couple of weeks. That makes $1880.00. And we could potentially have another $300....which would take us up to $2180.00. I don't know that we can find another $1820.00 in a month, but we are tightening our purse strings, belts, shoes, and anything else that will tighten, so we can squeeze some money out. If we didn't have a little bit of a bonus pay period, I don't think I could find as much as I did. I'm sad that I cannot pay all of this to my debt. But if we can do this to pay off the taxes....then we can do it to pay off the little bit of debt I have. It has really been an eye opener. This next month will not be fun....but I will do almost anything not to owe the IRS.

5 Responses to “The Squeeze”

  1. creditcardfree Says:
    1362086492

    Good luck! Got any big furniture, jewelry or electronics you can sell?

  2. North Texas Mommy Says:
    1362087563

    We had to pay the IRS last year!UGH! They did let us make payments though.

  3. rachel021406 Says:
    1362088208

    We are working to sell a dirt bike. That would help. And I am going to search our storage loft and see if there is anything in there.
    And I know we will probably have to make payments, but I am trying to make the balance as little as possible.

  4. Tightwad Kitty Says:
    1362093985

    Can you see if you can do this over say three months then it will take the pressure off a bit!

    What is the interest if you don't pay in full?

  5. Jerry Says:
    1362177092

    I can relate to not wanting to owe the IRS. My parents made an error one year when I was a kid and my dad had to work an extra night job for over a year and a half to pay it off. It was a rough time for them, and it does lead to a lot of stress. Especially right now, with taxes going through the roof and no insurance of any recourse. Good luck!
    Jerry

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