[Rhodes22-list] Tax Advice? 401k's

[Bill Effros]

I'm with you on this one, Rummy.

Except that my accountant told me how to do it, and I was spared a lot 
of pain.

I do make quarterly payments, but I almost never pay more by the end of 
the year than the amount due.  I only get refunds when I screw 
up--generally I just roll them over into the next quarterly payment.  
They never amount to much.

Bill Effros

R22RumRunner at aol.com wrote:
> Rik,
> Rebates, oh yeah, the check is in the mail. My money is better off in my  
> pocket than having to wait for the Fed's to return my money to me.
> I went through this with the IRS years ago. They kept trying to put me in  
> jail, take over my bank accounts and seize my house because I refused to make  
> quarterly payments.(Self employed) My income is so sporadic and  unpredictable 
> that I would always be overpaying or underpaying and thus receive  penalty's. 
> So, I stopped making the quarterly payments and took a one time  (annually) 
> penalty of $75.00 every time I filled out my tax forms. 
> I won't go into the five years of fighting the IRS and the attorney's that  
> had no back bone that I fired. I eventually took the IRS on by myself, ended up 
>  in arbitration and won. Saved myself a ton in attorney's fees, learned a lot 
>  about the tax codes and wiped out almost $30,000 the IRS was trying to get 
> from  me in penalty's and fines. Needless to say my wife thought I was crazy 
> and  begged me to just pay them off. All of my friends and family thought I 
> should  cave in as well. It was not a pleasant time in my life. Rebates? Yeah,  
> right......you will never see that money.
>  
> Rummy
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