IRS pays 4% interest – Piggington's Econo-Almanac

This topic has 10 replies, 3 voices, and was last updated 13 years, 10 months ago by oxfordrick.

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November 16, 2009 at 3:39 PM #16672

all
Participant

Recently I received $8K first-time buyer’s kickback (I thank all the taxpayers on this board, much appreciated).

The actual amount on the check was $8,142 since I choose to amend my 2008 tax return and got paid interest on $8K. Based on this http://evans-legal.com/dan/underpay.html the IRS pays 4% interest on overpayments, which is way better than any CD available.

What is the risk of forgetting to claim $15K in 401k deduction in April and filing an adjustment in December? Is the interest I earned taxable?

November 16, 2009 at 5:50 PM #483446

CA renter
Participant

Oh, goody! Seriously! This is just as good as FDIC backing, no?

Anyone else have any info on whether or not we can “invest” in pre-paid taxes? A win-win for everyone — we get a higher return, and the govt can have the money up front! 😉

November 16, 2009 at 5:50 PM #483610

CA renter
Participant

Oh, goody! Seriously! This is just as good as FDIC backing, no?

Anyone else have any info on whether or not we can “invest” in pre-paid taxes? A win-win for everyone — we get a higher return, and the govt can have the money up front! 😉

November 16, 2009 at 5:50 PM #483984

CA renter
Participant

Oh, goody! Seriously! This is just as good as FDIC backing, no?

Anyone else have any info on whether or not we can “invest” in pre-paid taxes? A win-win for everyone — we get a higher return, and the govt can have the money up front! 😉

November 16, 2009 at 5:50 PM #484068

CA renter
Participant

Oh, goody! Seriously! This is just as good as FDIC backing, no?

Anyone else have any info on whether or not we can “invest” in pre-paid taxes? A win-win for everyone — we get a higher return, and the govt can have the money up front! 😉

November 16, 2009 at 5:50 PM #484296

CA renter
Participant

Oh, goody! Seriously! This is just as good as FDIC backing, no?

Anyone else have any info on whether or not we can “invest” in pre-paid taxes? A win-win for everyone — we get a higher return, and the govt can have the money up front! 😉

November 17, 2009 at 6:27 AM #483515

oxfordrick
Participant

If it sounds to good to be true….

November 17, 2009 at 6:27 AM #483679

oxfordrick
Participant

If it sounds to good to be true….

November 17, 2009 at 6:27 AM #484054

oxfordrick
Participant

If it sounds to good to be true….

November 17, 2009 at 6:27 AM #484138

oxfordrick
Participant

If it sounds to good to be true….

November 17, 2009 at 6:27 AM #484365

oxfordrick
Participant

If it sounds to good to be true….
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