Friday, April 16, 2010

God Bless Line 42, or, They DO check them!

I made a major tax mistake: I completed them three months after giving birth, whilst caring for three other children (two of whom are homeschooled), a home, and keeping a dog alive. So, that the following happened isn't surprising:

I totally skipped line 42. You know line 42? That's where you take all your dependents from line 6d and multiply by $3,650.00. This is then deducted from your income to reduce your taxable income. 3,650 x 6 = 21,360. That's a lot of dough off your income.

And the IRS told me "we fixed your filing. We owe you a LOT more than you thought." (Sorry, not divulging exact amounts. Let's just say we were able to significantly reduce our credit card debt that shouldn't have been there in the first place.)

Plus, there's also that "making work pay" line 63. That's new this year. That saves up to $800 per family. So, we came out on top.

All those jokes about the IRS taking all your money is not as true--at least for us. I'm eternally grateful for that. I would have to say they take their mission seriously:

"Provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and FAIRNESS to all."

Thanks for looking out for us, IRS!

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