Posted on 03/14/2007 6:07:13 AM PDT by ejroth
Can any freeper reply - private if you wish
Have you had a CD (cert of deposit) that had a term longer than a year where the maturity date was in a year two years away from the conception date? i.e. May 04 to May 06
Some banks report the interest at the end of each year while some banks report interest only at the end of the year of maturity. I know ING waits for maturity to report.
I'm stuck with a local bank that reported in end of '05 and I didn't report that interest on my return that year.
The terms of most CDs are that you can't take any portion out until the CD matures. Yet, the IRS is trying to force me to pay the tax on the interest during a non-maturing year and I can't get that money with a penalty.
Is there a way to force the IRS to wait til maturity?
You are probably right. I was just doing it as a percentage of my income.
Luckily I pay no State income tax.
Here is a letter written by my grandfather many years ago. You could say he was ahead of his time. I'm proud to know that -- way back then, when few others under stood what was being done to this country -- he understood and spoke up about it.
And while it certainly isn't a perfect solution to the wealth redistribution juggernaut we've allowed to be erected in our midst, I suggest you visit
http://www.fairtax.org and investigate a remedy to the idiotic Spring Follies known as April 15th.
And if any want to know more about the money issue my grandfather grasped back in '38, send me a private email and I'll shoot you a file explaining it in greater detail.
I was really only talking about federal income taxes. I should have been clear on that.
When they do they'll empanel a blue ribbon commission for studying the feasibility of establishing a Department of Downsizing or some such...
They just took $100,000.00 from me. Last year I paid about $17,000.00. Did I notice any government bonus to my family over last year? He!! no! They just sucked more out of me.
Read my tagline.
no idea
Great letter!
"Treasurer of the Deficit" lol, I'll get some use from that one.
I like the FairTax. Read the book and like it. Although I definately want to see the income tax repealled first so we don't end up with both.
I find it much easier to just write "____ you thieves!" on the memo portion of the check I have to send to them every year. ;)
ping for later... we need another tea party!
With roughly half of adults paying no income tax at all and many of them actually receiving "earned income credits", don't expect a lot of legislators to be too concerned about a tax revolt.
That is a great tagline!!!
Great Tagline!
BTW how do you add a tagline. I looked once in the settings ect. but could not find it. Is it actually part of your user name?
There is a small box below the "Your Reply" box. That box is your "Tagline" entry. Not sure of how many characters you can use but once you start a tagline, it stays with all of your posts until you change or delete it.
Thank you.
Good letter. I'll use it.
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