Hey CA Taxpayers: Ready for your IOU from the State? GRRR!

[K8-EEE]

Meanwhile we have $1400 property taxes due in April....I always budget our State refund (around $1000) to go to the first installment of prop taxes. What do you think would happen if I gave L.A. County an IOU for prop tax, just until I get the state tax back?

AND....and, we can expect UC tuition for our daughter to go up another 10% next year. Budget crisis, you know.

This is bullshit.

TAX THE FUCKING RICH PEOPLE! We have more millionaires in CA than anywhere, WHY do their umpteen million tax loopholes even exist when everyone else is expected to make sacrifices and etc?? Like, why should they be able to register yachts in Mexico, park money in off-shore accounts or do ANYTHING to get out of paying taxes?

Also, WE CAN NO LONGER AFFORD THIS INSANE WAR ON MARIJAUNA! Legalize it and TAX IT!

[Earth_First]

1. TAXES?! Only suckers pay taxes!

[Lebam in LA]

2. K & R

[QueenOfCalifornia]

3. We pay over $12,000 a year in property taxes.

We paid $350,000 for our house 10 years ago.

Makes sense to me that we should be fucked over. :eyes:

Oh, BTW, your op will bring out the California haters unless they are all at church becoming even more holier than thou. :popcorn:

I also agree with the marijuana laws - it is so fucking stupid.

[K8-EEE]

4. OUCH!!

I guess we should feel fortunate that we bought when things were relatively cheap ($200,000) -- the prop tax is a racket though, my parents bought their house in 1966 (in Studio City CA) for $30,000 and pay almost zippo taxes (Prop 13) even though their house is now worth $1 mil at least.

I know the point of Prop 13 was so that people didn't get thrown out of their houses etc. OK great but it's so wacky now....like a generation gets off practically scott-free and us boomers are stuck picking up the bill.

[QueenOfCalifornia]

We have to do some

weird juggling of funds to pay the taxes - It's like a bad game of Monopoly.

[msongs]

10. hmm they were stuck picking up the bill for you for about 18 years eh? nt

[ContinentalOp]

19. Other way around isn't it?

The boomers who bought in the '70s and '80s pay nothing while young people who just bought in the last few years are bearing the biggest burden.

[slackmaster]

7. You shouldn't be paying over about $4,500 plus local assessments

Whatever $3,500 increased by 2% annually works out to. Something is very wrong if you are paying $12 K.

[K8-EEE]

12. Yeah right? I think we pay a little under 2%

Unless there's some kind of past-due or penalties involved or something that sounds like too much....

[slackmaster]

5. I'm going to apply my entire state income tax refund to my 2009 taxes, and increase my exemptions

So my take-home pay will be just a bit higher for the year.

If they think it's OK to give me an IOU, surely they can accept it back.

;-)

[QueenOfCalifornia]

6. I love it!

:rofl:

[K8-EEE]

13. Hey that's an idea....like attach the IOU to the taxes as payment?

Hmmmm!

[slackmaster]

14. It's a line on California Franchise Tax Board Form 540

You don't have to receive an actual check or IOU. You just tell the state to take what they owe you as payment toward the current year's tax.

[chatnoir]

16. Great idea - can any CA resident file this?

[slackmaster]

17. It's the standard income tax form

Parallel to IRS Form 1040.

[chatnoir]

20. Thank YOU! Will def look into this...

[K8-EEE]

21. Fantastic!

I hope a lot of people see that suggestion....

[pinto]

8. Not a homeowner here, but I hear you. One thing - albeit long term -

is to let your State reps know you favor closing the loopholes in Prop 13. Business properties have a huge loophole on assessments for taxation. It would go a ways to balancing our forlorn budget.

I hope the State gets to some compromise before your tax due date. I'd bet there are a lot of CA'ers like you juggling state refund with prop tax payments. Hang in there.

[slackmaster]

18. Property taxes are not and have never been paid to the state

To learn the basics about the California state budget, please see http://www.dof.ca.gov/budget/ .

[wtmusic]

9. First thing I thought of too

What would happen if I sent an IOU on April 15 to the Franchise Tax Board?

What a mess. I can't believe it has gotten this far.

[K8-EEE]

11. Remember when Ahnuld was going to "open the books" and "cut waste?"

I can't believe people continue to fall for the same old bullshit. I remember Cruz Busamante saying "we've already DONE this....what would you cut?" but nobody ever holds them to any specifics.

[slackmaster]

15. It's Line 46 on Form 540 or 540A for 2008

Forms and instructions are available at http://www.ftb.ca.gov/forms/2008/index.shtml.

Line 46 – Amount You Want Applied to Your 2009 Estimated Tax

Apply all or part of the amount on line 45 to your estimated tax for 2009. Enter on line 46 the amount of line 45 that you want applied to your 2009 estimated tax.An election to apply an overpayment to estimated tax is binding. Once the election is made, the overpayment cannot be applied to a deficiency after the due date of the return.