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Essay On Owing Otc

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Attached it is the Letter from the Oklahoma Tax Commission with penalties to date. In my conversations with OTC, they said they would put a lien on the house if we don't pay this. We are still waiting on the IRS response. We have been looking back at the turn of events, not about pointing fingers, but just trying to understand what fell apart and created this situation. Nothing wanting to issue blame, but trying to understand. Owing OTC almost $1000 with penalty and the IRS over $5000 pending penalties is understandably overwhelming financially for us. We don't know what to do, if OTC or the IRS comes after us, or garnishes Kathy's check, it would lead to devastating situation for us, likely cost Kathy her job, etc. Looking Back; …show more content…

This was also the first year Kandace filed with her husband and was not a dependent for us. We also admit, that the rapport and trust we have in you over the years made us a little complacent. We did not thoroughly double check the information we received from Hinkle (but we didn't have a lot of information to review, we turned over all the original documents over the Hinkle), so we don't know what was scanned; nor what was or could be missing. Thusly; processing of our taxes was different that what we had done in the past. Additionally it was Hinkle that signed the final 1040 forms in lieu of you. Again, a lot of newness and change. We went back and reviewed the questionnaire that you historically send out each tax season. We see some places that we could have addressed more thoroughly. After going through this, I would like to offer suggestions to help omit these type of problems in the future for Hinkle. 1) In the Questionnaire, have a question: Did you change jobs or take on additional employment this year. If Yes, W-2, 1099 or to be claimed? 2) Did you lose a dependent through “aging out” or “death” or “another reason”? 3) Did you have a change in “Health Care Insurance”? (not sure how much longer this is going to apply) Scanning is great, but it can be

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