Not too excited about having another bill to pay, but we did get approved for the loan to pay the 2008 taxes. Now I’m off to the bank with a few pieces of documentation they want for the file. It’s my understanding they’ll cut a check today and I can mail the return before the Thursday deadline. I will be relieved to have it done, but still feel a bit low about the whole thing.
Now to come up with some additional blind sales and maybe some other moneymaking ideas to generate income to pay that and the rest of our debts off faster.
4 thoughts on “Bittersweet Relief …”
I know you’ll find something. Praying for ya. 🙂
Could you not work out a payment plan with the IRS?
@SingingMom – I looked into both options, and the bank loan actually ended up working out better for us in the long run. The IRS’s interest rate is set at three month intervals, so basically it’s like paying a variable rate mortgage. I don’t like the uncertainty of that at all. We were approved for the loan with our bank and we know what to expect budget-wise each month until the loan is paid in full. So for us, that was better.
@TXMom2Jami – Good…I’m glad it was approved. We had to pay some back taxes several years ago…an oversight of not paying the 10% penalty on an early 401K withdrawal. But the amount was only $1200, so we just paid $100 a month over a year.