Layout:
Home > Audited!

Audited!

July 24th, 2007 at 07:31 pm

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...

3 Responses to “Audited!”

  1. Ima saver Says:
    1185307958

    So sorry to hear this!!

  2. Nic Says:
    1185314326

    Ouch! Sorry to hear the bad news. I hope the govt. made a mistake instead.

  3. boomeyers Says:
    1185380883

    Oh no! How terrible. I hope you can work this out. Keep us posted!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]