Hello, my name is not important to the masses, but my plite and plea for help is one many people this year can relate to.
I recently went to file my US taxes and was told I owe just shy of $4000. I can’t pay that. I can barely afford my monthly bills, let alone that huge chunk of debt.
I do have some idea of how I got here. In 2022, I was unemployed after losing my job and racking up debt due to credit cards, with appalling intrest rates, were used to make sure my bills were covered. I amassed a good bit of debt due to said intrest rates, and fight every month to stay on top of it. That is when I resorted to withdrawalling an old 401k from a previous job because I needed the money BAD. Well, when doing this, I was very much misinformed about the taxation situation on that money. They taxed it when I withdrew it, but I was NOT told to set almost half of the lump sum aside for taxes at the end of the year.
It was not communicated with me that that was something that needed done or to expect that. So now here I am, sitting down for my 2023 tax season, optimistically punching in all my numbers, seeing the return increase, but then comes claiming that money. Instantly, thousands of dollars in owed taxes were added. I am sick to my stomach that our government can do this to us. Tax the money INTO the account, tax it OUT of the account and STILL expect even more payment at the end of the year.
I am lost. I don’t know how they expect me to pay this. My family is NOT rich, we all just scrape by. This debt I’ve amassed has destroyed my credit, so loans and credit cards are near impossible to attain. I have only 1 month to try and cough up $4000. It’s not like I can go sell a kidney… Well, I probably could, but I doubt I could get that done in a month. Anyway, that’s beside the point.
I could really use someone’s, anyone’s, help. I truely am desperate as I have zero spaces to turn and no realistic way to get this money in time. I understand that I’m just some beggar on the internet, but this bed could use a helping hand.
Thank you. Be kind to one another.
https://paypal.me/bglen503?country.x=US&locale.x=en_US