My friends on Twitter got the news that all was on its way to being well after Saturday’s discovery of some financial craziness with my bank account. Now it’s time to give everyone the full details. Let’s start, back in 2005.
In 2005, while a student at Georgia Tech, I got a job with a company in Atlanta which paid me as a contractor meaning they didn’t withhold any taxes. My two bosses were quite up front and clear that this meant that I needed to save money for tax time. A lesson I did heed and paid for the 2005 taxes quite easily (I only worked there for a month during 2005.)
For 2006 I did my best to save money but this was when I left school and then made the sudden decision to return home to Orlando. The move itself and life in general sapped any savings I had made, and the dire warnings of my old bosses were forgotten until tax time came and I was staring at over $2,000 of owed taxes. Well, on my pay at the theatre that was hard to come by but I did my best sending off two payments fairly quickly.
Then mom went into the hospital and the rest was forgotten for a while. It was a few months before I got notice from the IRS that I was late on my payment. I tried to pull the money together but in truth I didn’t try that hard, the threat wasn’t imminent and I was living the high life. I managed to get a third payment off eventually and I marked my calendar for a fourth but I let that deadline come and go and slacked off.
Soon the letters and calls began to come. They caught me one day when I went home for work turning my 30 minute lunch at home into an hour and a half as I sat on the phone waiting to talk to a live person.
I made a payment by phone, the women said that I should call to confirm the payment went through, but when I saw the money had been withdrawn I didn’t call them, I just assumed all was well.
A month or two passes, I file my 2007 taxes and paid them, under the full belief that all was right and I was clear.
Come Friday night, I had money withdrawn from my account to the tune of more than $730. Meaning the vast majority of my paycheck. So with this money gone I call the banks to discover it was the IRS taking money that I “owed” them. Since it was Saturday when I came to this discovery I had to wait until today to call them.
The offices opened at 8am so I called about 8:07 and spoke with a gentleman, he was very helpful explaining that my payment in March over the phone had actually been applied to my unfiled 2007 taxes. How helpful of them considering the payment was over twice what I owed the government for this year.
So he switched the payments for me and asked for the fax number to send a stop to my bank. Unfortunately since it is Citi Bank I couldn’t find a fax number on their website, so I had to hang up with him and call them to get a number. Call the IRS back to re-explain my situation and provide the fax number.
I’m not convinced it’s all taken care of yet, I will wait to see the money restored to my account, but I am glad to hear and learn several things.
- I’m most glad to learn that the levy was filed incorrectly.
- I’m glad to learn that the IRS is not an impossible beast unwilling to help me, as long as you speak up and remain calm the people there are happy to help you.
- Citi bank has to go. Not having a physical bank I can go to with problems is beginning to pose more of a problem as my forms of income begin to diversify and grow more confusing.
- Pay your taxes. I’m not getting three years like Wesley Snipes but I did temporarily lose control of 3/4s of my pay check and just before rent is due.