Thursday, July 15, 2004

I just made my first electronic quarterly tax payment with the IRS EFTPS tax payment system; So, I saved a stamp, saved Cliff Clavin the effort of sorting and delivering mail, and saved the effort involved in having an office federal letter-opener-person open an envelope.
Having done all that, I now need to make my complaint about how stupid it is that we pay taxes on estimated amounts. I haven't a clue about how much money I will make this year.  If people visit my get rich quick scheme, I might get rich quick. In all likelihood sanity will prevail and I will keep having to work temp jobs for food.
Personally, I think the best way to handle taxes would be to define a special tax account at a bank. Taxes would be assessed as money is withdrawn from the account. If the taxes were taxen out automatically as we did our day to day business, people could better manage their tax liabilities...rather than playing this silly estimating and tax return games that the IRS requires.

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