Ouch...got a certified letter in the mail yesterday. The state of NJ audited our 2004 tax return and found that we understated our income by $2600, which results in taxes due (plus interest and penalty) of about $1000.
I'll double check to make sure, but I think I know what happened...NJ doesn't allow you to deduct 401(k) contributions the same way the Federal Gov't does. I always get multiple sets of W2s, because I work in NY and live in NJ, so I must have submitted the Federal W2 with my NJ taxes, which would show the lower income amount.
Is there ever a good time to unexpectedly be told that you owe $1000? I don't think so, but this hurts more than usual. Sigh...
Audited!
July 24th, 2007 at 07:31 pm
July 24th, 2007 at 09:12 pm 1185307958
July 24th, 2007 at 10:58 pm 1185314326
July 25th, 2007 at 05:28 pm 1185380883