Some Tax Advice for RF Cafe Visitors - RF Cafe Forums

 Post subject: Some Tax Advice for RF Cafe Visitors

Posted: Mon Feb 16, 2009 7:18 pm 

Greetings:

If you work for an employer that witholds taxes from your paycheck, you should seriously consider adjusting the number of dependents claimed to make it so you get little or nothing back as a refund in the spring. The reason is the number of states that are on the brink of or already into bankruptcy, and are delaying the issuing of refund checks. It is probably going to get worse in the next year or two.

We have been hearing of problems in California, but today there was this news story about Kansas (yes, Kansas) delaying tax refund payment.

http://www.kansas.com/735/story/701750.html

I never really understood the thinking of people who choose to allow the government to hang onto their hard-earned money for up to a year with no interest earned. There are actually people who look at their refund checks as if it was a gift from the government.

So, unless you live in a state with no income tax, like Florida or Texas, it would be a good idea to contact your payroll department and ask them to help you figure out the number of dependents to claim to zero out your tax overpayment amount.

There is no charge for this advice

_________________
- Kirt Blattenberger
RF Cafe Progenitor & Webmaster

 Post subject: Re: Some Tax Advice for RF Cafe Visitors

Posted: Tue Feb 17, 2009 5:42 am 

So Kirt, as you have set yourself up as a tax adviser, perhaps a second career choice in view of the down-turn in RF investment, then listen to this one.
I am a UK citizen/tax payer and always have been, and I was never resident in nor woked in the USA. I bought stock on the NASDAQ in 1999. I sold the stock through a NY broker in 2003, and found to my surprise they had with-held $2500 in US tax. One of the non-residence forms had failed to reach me, so they claimed they had no choice but to with-hold. I claimed a refund in 2005, but I am still waiting to receive it after mailing the Pensylvania IRS office twice a year as an increasingly impolite reminder.
So after 4 years I am still not repaid, and I understand they are not obliged to pay any interest. Their so-called help-line number is only toll-free if you are in the US making the call, so I have to dial and wait on a pay-phone. What do you advise, and do you charge a fee?
Nubbage furioso

_________________
At bottom, life is all about
Sucking in and blowing out.

 Post subject: Re: Some Tax Advice for RF Cafe Visitors

Posted: Tue Feb 17, 2009 10:34 am 

Greetings nubbage:

The American IRS has been the schoolyard bully since its inception originally as the Bureau of Internal Revenue back in the 19th century. They enjoy (and I do mean enjoy) the power to hold absolute sway over people's lives under the threat of crippling penalties and/or imprisonment. The IRS is an equal opportunity abuser, regardless of one's nationality.
 
Of course your situation was brought on by the ineptness of a trading company, but fundamentally it was due to the utterly ridiculous regulations imposed upon businesses to file multiple forms in quadruplicate to various government organizations. Hold onto your hat (if you wear one), because the clowns in Congress here are about to greatly multiply the bureaucracy levels with the government takeover of most or all of our financial institutions. The full benefit of government efficiency and capability will soon be at the service of everyone - worldwide.
 
I suppose the only Hope for you and me is that Americans (the entire world, according to new reports) just elected the Savior of the Earth as president, so just hold on, help is on the way. The universe got better on November 4, 2008; chaos no longer rules; the 1st law of thermodynamics has been suspended. In fact, if you can make it over here to one of the Obama healing events - er, speeches - you can probably get your issue resolved on the spot like the woman at a recent one who begged Him for a car and house, and then was provided one (by a member of the other political party, BTW, and also, we've learned that she hasn't bothered to work since 2003).
 
Sorry to unload, but it probably adequately expresses both of our feelings about the ineptitude of governments, and the habits of slackers.
 
That said, I will be glad to assist you in contacting the IRS. If you e-mail me with the pertinent information, I will give them a call.
 
Finally, I tried to contact you a couple times recently via e-mail. Has it changed from a year ago (t...@hotmail.com)?

_________________
- Kirt Blattenberger
RF Cafe Progenitor & Webmaster

 Post subject: Re: Some Tax Advice for RF Cafe Visitors

Posted: Wed Feb 18, 2009 3:49 pm 

Be orepared to be audited, my friend. They've got your number now