...or, how I took advantage of the Middle Class Housing Subsidy but skipped an important step.
In December 2011, I reduced my home mortgage interest rate from 6.25% to 3.125%, which thanks to the commutative property of multiplication, reduced my home mortgage interest by 50% year-over-year. What I forgot to do, however, was reduce my tax withholding allowances for 2012, which increased the taxes I owe for 2012 by an amount equal to 1/3 of the amount I saved on mortgage interest.
Well, I just filed my 2012 taxes online, and later today I will write a check to the U.S. Treasury for a lot more money than I expected. (I fixed my allowances in January, when I discovered this horrible oversight.)
Go ahead and call me stupid. You're allowed.