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by nostrademons
4242 days ago
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Yeah, something seems dodgy there. $20K income is well below the EITC threshold. I just stuck it into BankRate's tax calculator [1], and it claimed total tax owed was $1616 without any further deductions, so it's quite possible the OP owes nothing. He should consult a qualified tax attorney or accountant; much of that IRS debt may not really exist. Also, if I understand his post correctly, it seems like he was paid as a 1099 contractor the whole time but received equity and operated like an employee. There's likely something highly illegal about that (on the part of the startup), but it's not worth going after them because I doubt they have any money. [1] http://www.bankrate.com/calculators/tax-planning/1040-form-t... |
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