Anon-e-Mouse
Member
- Jurisdiction
- California
My 95-year-old Aunt told me she had to pay $4000 in Federal Taxes and $1000 in State taxes this year. She had to take out a loan to pay it.
Somehow this doesn't seem right to me. She lives in an Assisted Living facility and has 3 sources of income, most of which she pays in monthly rent to the facility:
Her tax preparer filled out form 1040-EZ, or whatever it's called now, & sent it back to her to sign and send in with the taxes she owes. They also recommended that she file quarterly estimated taxes this coming year.
Something doesn't seem right to me. I can't imagine the income from those 3 modest sources being so high that she owed that much in taxes. Her hearing and sight and memory aren't what they used to be, and I'm worried that something got miscommunicated, or even that somebody might be deliberately taking advantage of her. She likes to keep her finances private and won't let me see the tax forms she filed. On the other hand, I am her Health Care POA and she has me designated as the Executor of her estate after she passes, so I do feel like I should try to make sure she isn't getting ripped off.
Does this amount of taxes owed under these circumstances set off Red Flags for anyone else, or is it just me?
Somehow this doesn't seem right to me. She lives in an Assisted Living facility and has 3 sources of income, most of which she pays in monthly rent to the facility:
- Social Security
- A very modest public sector pension
- Interest from a small (< $100,000) stock portfolio
Her tax preparer filled out form 1040-EZ, or whatever it's called now, & sent it back to her to sign and send in with the taxes she owes. They also recommended that she file quarterly estimated taxes this coming year.
Something doesn't seem right to me. I can't imagine the income from those 3 modest sources being so high that she owed that much in taxes. Her hearing and sight and memory aren't what they used to be, and I'm worried that something got miscommunicated, or even that somebody might be deliberately taking advantage of her. She likes to keep her finances private and won't let me see the tax forms she filed. On the other hand, I am her Health Care POA and she has me designated as the Executor of her estate after she passes, so I do feel like I should try to make sure she isn't getting ripped off.
Does this amount of taxes owed under these circumstances set off Red Flags for anyone else, or is it just me?