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Wednesday, March 19, 2008

When it Rains.........

Several times recently, I've discussed the importance of an emergency fund. Today, we learned it's importance in a very big way.

Our mailbox contained a disturbing notice today from the IRS. According to the letter, our 2006 tax return had a serious error in it. Simply put, a calculation carried over incorrectly and gave us a wrong total. We now owe Uncle Sam a considerable sum of money.

We're not happy about it. I grabbed the return and went over it with a fine tooth come, convinced the IRS was wrong. Unfortunately they are correct.

Because we have an emergency fund, we will be able to write the check. We won't be happy about it, but we can do it.

It will take a while to replenish the fund, but so be it.

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