Holy Caclulated Compound Batman!! - Tilted Forum Project Discussion Community

prosequence · 05-04-2004, 04:14 PM

Just found out that the CCR (Canadian Customs and Revenue) is now charging daily compound interest on taxes owed. That's huge!
Well in my opionion it is. I'm fortunate enough to usually get money back but feel for those who don't....
There wasn't even a media campaign to warn or inform the public. If there was I missed it. Considering they put notices in papers for other stuff they do, I can't believe I didn't see anything for this.
What calcualtion does the IRS use, any one know?

Yakk · 05-05-2004, 06:14 AM

Do you mean on late payments?

Yes, if you pay after the deadline, they charge you a penalty and in addition charge you interest.

Or, are they charging you interest even if you pay "on time"?

05-04-2004, 04:14 PM	#1 (permalink)
prosequence Psycho Location: YOUR MOM!!	Holy Caclulated Compound Batman!! Just found out that the CCR (Canadian Customs and Revenue) is now charging daily compound interest on taxes owed. That's huge! Well in my opionion it is. I'm fortunate enough to usually get money back but feel for those who don't.... There wasn't even a media campaign to warn or inform the public. If there was I missed it. Considering they put notices in papers for other stuff they do, I can't believe I didn't see anything for this. What calcualtion does the IRS use, any one know? __________________ And now here I stand because of you, Mister Anderson, because of you I'm no longer an agent of the system, because of you I've changed...

05-05-2004, 06:14 AM	#2 (permalink)
Yakk Wehret Den Anfängen! Location: Ontario, Canada	Do you mean on late payments? Yes, if you pay after the deadline, they charge you a penalty and in addition charge you interest. Or, are they charging you interest even if you pay "on time"? __________________ Last edited by JHVH : 10-29-4004 BC at 09:00 PM. Reason: Time for a rest.