Make sure you are always on time for your Taxes. Bad surprise from 2020

Israel
November 5, 2023 7:26am CST
I got a surprise the other day. I got a letter from Social Security, that I have until ages 67 to retire. That was a bit of a bummer, because all my life I knew that the retirement age was 65! Oh well, what is two more years to work? But the most surprising thing, was the income for the year 2020 was blank! I forgot to file in 2020? Ahhh yes, COVID year. I guess so. so I quickly called my Israeli accountant and the USA accountant, and had the forms for Israel 2020 sent to the USA accountant. Now for the bad part. . . 2020 was a good year for me as far as online work: I made a lot of money, so I had to pay a lot of taxes: $3985!!!! And I was late, this amount is including all the late fees!! So today I finally e-signed the whole thing and it is being sent in as I type this. So my advice is to keep up on your taxes and don't be late!
4 people like this
5 responses
@JudyEv (321184)
• Rockingham, Australia
6 Nov
What awful luck! The government doesn't mind being late if they have to pay you but they don't like waiting themselves.
@spiderdust (14745)
• San Jose, California
5 Nov
OUCH! Yes, they recently raised the retirement age from 62 to 67. I don't know that I'll be able to work until I'm 67, so I'm hoping my body holds out.
@AmbiePam (83413)
• United States
5 Nov
People in the government who want to raise the retirement age are crazy.
@LadyDuck (450600)
• Switzerland
5 Nov
They are doing the same here. I arrived to retire at 65, but now the age has been raised to 67. I am never late with the taxes.
@paigea (35402)
• Canada
5 Nov
Yes, be in time for taxes!