(Andrew Harrer/Bloomberg)
I often talk to people who have been audited by the IRS and are now suffering the financial consequences. They owe tens of thousands of dollars and are digging their way out one monthly payment at a time.
So it was with great interest that I read a story by NerdWallet’s Liz Weston about how fewer people are scared of the IRS. Only 11 percent of survey participants in a NerdWallet poll are scared of being audited by the IRS. But one-third of those polled are afraid of reptiles, and 8.5 percent fear nonexistent zombies
“While the IRS may engender more fear than the living dead, that still leaves a whole lot of people who are not that worried about facing the agency’s wrath,” Weston writes. Want to know why folks aren’t fearful? Weston offers four explanations. Read them here.
Whether you fear the IRS or not, fear the turtle. (As an alumna of the University of Maryland, I couldn’t resist the pun. Maryland, the No. 5 seed in the NCAA championship, will meet Kansas tonight. Go Terps!)
Color of money question of the week
I’m definitely more afraid of the IRS than snakes on a plane. But what about you? Do you fear the IRS, and if so, why? Send your comment to colorofmoney@washpost.com. Please include your name, city and state. Unless comments are particularly sensitive, I like to identity commenters. Put “Snakes on a Plane” in the subject line.
Live chat today
Speaking of Weston’s report, she’s my guest today on my live chat, which starts at noon. We will be discussing her book, “Your Credit Score: How to Improve the 3-Digit Number That Shapes Your Financial Future,” which is the Color of Money Book Club selection for this month. Besides discussing the book, we’ll be taking your general personal finance questions. Here’s the link to join the discussion. Want to improve your credit, read my review of the book and how it can help you create or resurrect your good credit name.
Got student loan debt?
The Washington Post’s Danielle Douglas-Gabriel, who covers the economics of education, is looking for folks who are willing to talk to her on the record about the challenges in figuring out how to pay for college or to pay off college debt. In return, she will ask higher education experts to offer advice. Any financial information used in the story will be limited to just what’s necessary for the experts to have a clear picture of your situation. Send your stories to Danielle.Douglas@washpost.com.
Tax time
Even if you’ve already done your taxes, it never hurts to be informed. Here are articles you ought to read:
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