- Aug 8, 2016
- 26,017
- 25,004
- 2,445
Avoid cd, btw.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
Was the $100k you put in the CD tax-deferred?Update: I have dealt with IRS "audits" in the past and they will at least specify what specific item they have an issue with. They ask for documentation and ultimately reply that everything is cleared up.
As far as CT Dept. of Revenue Services (no affiliation with the IRS) I have heard they do not reply that everything is cleared up, but stop sending warnings once the taxpayer proves they are innocent. So anyhoo, I sent the Dept of Revenue Services a form they have online for folks who dare question their incompetence and stupidity and provide possible explanations. Well, that was about a month ago and no response...until the other day I got the bill again this time saying there will be no further contact and if I do not pay immediately they have the right to steal money from my accounts. I called the diverse agency up and was patched through to a nice Indian dude who although had an Indian accent, was relatively articulate in basic English words. Better than typical Indian "customer service" idiots. Unfortunately he did not know shit about finance, accounting and taxation, although he thought he did. I asked if he could email me a screen dump of what their database is saying about me. He said no, so I said please place a note on my "case" that I will provide documentation next week because I do not want to have to sue to get my money back they steal or deal with tax enforcement clowns knocking on my door. Folks, I just checked and discovered the idiots in the CT Dept of Revenue Services treat any money you invest as "income" when the investment is closed out. For example, if you invest $100K in a 6 month CD at 1.5%, when it comes due these morons consider both the $100K and the $750 interest income as taxable income.
I was just in Connecticut a couple weeks ago. I heard about them wanting to put tolls every six miles and was flabbergasted.So I just got a bill from CT stating I owe $45K and have a couple of weeks to appeal or apparently get incarcerated. No wonder folks are moving out of NY, CT, etc. to Florida and states that are not corrupt cesspools and function fine without personal income tax. They want to install tolls on I-95 again and do other things to sabotage economic activity and personal liberty.