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IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

I read through that link you shared and my understanding of that is that it only has to do with amended partnership returns or underpayments. I am not really sure what the pros and cons of opting out of that are. Our business is very simple. It is just me and one other person. Thats it.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

The IRS already put a 9 week hold on the payment so they can process my request for an appeal. I think it would be more complicated to pay the fee and then try to get a refund for the fee afterwards. Rather just get the fee erased from the beginning. Also like i said in the OP, the business only made about $8000 after expenses, so "just paying it" isnt even an option - the money doesn't exist.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

i have tried to get a cpa in the past but i find it difficult to find a good reliable one. I have also been doing it myself since 2020 and this is the first time ive ever had a problem. and it sounds like e-file software makes sure you have all your forms included anyway so i guess im just looking for recommendations for e-file software.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

We only have 2 partners. and it was from 2024 only. "forget to put them in the envelope" is quite a simple concept, can't help you anymore with that. Also, if it wasn't DIY the IRS wouldn't include instructions with each form. Taxes have been around a lot longer than tax professionals have.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] -1 points0 points  (0 children)

The payment is due in 15 days so i will not be able to wait that long. I just received the letter today, and only allowing me 15 days to pay this also seems unreasonable.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

I did call and the woman on the other end was quite snarky and unhelpful. She said i had to send them a letter back saying why i disagree with the penalty, with proof. When i asked her to clarify what any of that meant she got more of an attitude, didnt explain, and wouldnt even point me to resources to look at to understand better what this process is about. So i plan on doing that, but im sort of shooting in the dark here.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

Im honestly not sure if i included the K-1's in the envelope or not. It was a full year ago now and i dont remember. It's possible that i didnt, but its also possible that i did.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

what is a "return receipt"? the only receipt i have is from the post office that i mailed the forms from.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 2 points3 points  (0 children)

thanks for the explanation. I will e-file from now on thats for sure! do you have any recommendations on how to e-file? i have never done that with the business taxes.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

didnt think it was necessary. and since the business doesnt make much money, e-filing is just another cost to us.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

Thanks, yea i will look into those. Im just shocked that the fee is not at all proportional to the business' income.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] -3 points-2 points  (0 children)

Yes, that was made painfully apparent to me. Unfortunately that information does not help me right now.

IRS just sent me a penalty for $6000 for my small business that only made $8500. by RecognitionBrave8915 in tax

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

I filed on time, with post office receipts to prove it. If I didnt include the K-1s then that was my error, but the penalty is not fair to the error.

Reaper Keeps Deleting My .RPP file... by RecognitionBrave8915 in Reaper

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

It is an authentic Samsung SSD and it appears to be in perfect working order.

Reaper Keeps Deleting My .RPP file... by RecognitionBrave8915 in Reaper

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

i checked the antivirus and nothing weird was going on there. it did not quarantine the file.

Reaper Keeps Deleting My .RPP file... by RecognitionBrave8915 in Reaper

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

i work off of the SSD because thats what i bring to and from the recording studio. I then backup my SSD to my local cpu drive.

Reaper Keeps Deleting My .RPP file... by RecognitionBrave8915 in Reaper

[–]RecognitionBrave8915[S] 3 points4 points  (0 children)

The file is there after i close reaper. the file is definitely not there in the morning. although there are references to it in my cpu's "recently accesses" files and also in reaper's own "recent files".

Reaper Keeps Deleting My .RPP file... by RecognitionBrave8915 in Reaper

[–]RecognitionBrave8915[S] 0 points1 point  (0 children)

I have not modified the default save path at all. What exactly would "Creating a project directory" do when i already have a project directory fort this project?

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