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Last year I got a nice letter from the IRS. Out of the blue they decided that some of the investments I have need taxes taken out because they did not see how I bought those stocks. OK, a stock purchase that my broker sells then invest 100% of that in a new stock is not "real" money. It is just make believe until they send me the money and it is more than I sent them. I had no idea how to figure it out so I had to hire a tax accountant to file the paperwork.
In the end he said he filed the forms electronically and has no way to know what the new amount I will owe will be. The IRS had to send me a letter with a new amount to send them. How stupid is the system when only the IRS can come up with how much I will owe. The amount went WAY down but by the time I paid my accountant it was not a big savings. It was just extortion by the IRS since I have no deductions anyway. RAPE!
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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