What should I do about my taxes?

[VV3ZZY]

I owe taxes for the past 4 years.. I tried Turbotax, but it says I owe over $6,000 I'm broke and live paycheck to paycheck. there's no way I can pay that all at once. I hate money. I Just use it to buy stuff.

[OrallyFixated]

What changed from your previous years? If there wasn’t a significant change in your financial situation, there is no reason for you to get hit with this tax bill.
Perhaps a mistake was made?

[VV3ZZY]

I'm an artist. I travel a lot. I work for many different companies. I also own an llc.

[OrallyFixated]

Oh…. that makes sense. Your income isn’t really consistent year to year, so it’s bound to fluctuate.
Ensuring you can claim absolutely everything you can will help. Adding gas receipts alone changed my husbands taxes by $1000. (Not sure he’s actually eligible for this deduction, but we’ll find out when the assessment comes)
The good new, if you can call it that, is you don’t have to pay it all off at once. I’d advise you to make those arraignment ASAP. They’ll kill you on the penalties and interest.

[VV3ZZY]

Yea. I'm worried about going to jail for tax evasion. I dunno what to do. I can't go to jail

[OrallyFixated]

Okay buddy, I just spoke to someone I know who works for CRA. Their job is to go after the people who don’t pay their taxes.
Anyway, they said they don’t put people in jail for such a small amount. They reserve that for people who owe hundreds of thousands of dollars. In your case, they will garnish wages when they can. Keep any GST payments, or any other government payment you might be entitled to. And perhaps put a lien on property.
The recommendation I was given was to just start making payment to them. Whatever you can afford. Interest is compounded daily, that’s how they get you. If you haven’t filed yet, do so. Not filing is how you incur penalties. Minimize those charges as much as you can.
So jail isn’t really a avenue they would pursue in your case.
That’s the best I got for ya my friend.
I hope it helps

[VV3ZZY]

Thanks yea I have to figure out how to make payments

[OrallyFixated]

You can add your tax payment bill to your online banking and pay it like any other bill.
All the information you need to register the bill will be on the tax assessment you get after you file.
They make paying them pretty easy.
Funny how that works.

[VV3ZZY]

Awesome! Thank you so much! I never knew

[OrallyFixated]

No problem. Get them off your ass as soon as you can
Good luck

[jennifer_bloom]

If you play the guitar, try working as a subway musician for 2-6 days, that might get you $2,000.

[VV3ZZY]

😐🤣🤔 not a bad idea🥁🎸