Sunday, June 10, 2012
IRS recap: Too many forms
After 6 years of filling Form 1040EZ, it would seem the IRS has finally gone and said "Hey! We've just realized that you've been filling out the wrong form. You need to fill out these forms over here" though last year they were a little more forgiving. This year not so much. Just printed out the forms that I need and looking them over, I'm feeling a bit more overwhelmed then I usually do. The Profit or Loss From Business (Schedule C) has 47 lines, some with multiple parts. The Schedule SE has 17. So now I have to go ahead and do all of these forms with a letter and a copy of the letter I had recieved, send it back to the IRS then wait some more on a response. If someone could have told me which ones I needed in the first place correctly, it would have saved me a lot of trouble but for the longest time I was told it was alright to fill out the Form 1040 EZ due to the fact I really don't make that much. I feel a migrane coming on. God this is going to be time consuming to go ahead and input. Think what bothers me the most about all of this is that it's taken the IRS this long to finally say that I've been using the wrong forms and the fact that I know that there is going to be other small business owners out there that are probably going to be pointing and laughing at me saying that I'm an idiot. Think that I'm going to cry in my coffee now and try to figure out if I owe anything in Federal.