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To: envisio
There is a way around that.

Don’t have any withholding from your paycheck.

Put a certain amount of money into an interest earning account ever payday. At the end of the year...pay the taxes you owe out of the account.

...plus the penalty for underpayment of your taxes. The IRS wants a [monthly] cashflow. You would probably at least have to make quarterly payments to avoid the penalty.

111 posted on 04/11/2008 11:32:15 AM PDT by RhoTheta ("I'm from the government, and I'm here to help you." NOT!)
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To: RhoTheta
"...plus the penalty for underpayment of your taxes.

Your taxes are not due until April 15th of any given year so how can you be late if the check is not mailed till the date they set? NEVER add the penalty that they try to impose. I've been doing it this way for years.

129 posted on 04/11/2008 12:57:10 PM PDT by Dust in the Wind (Fund A Red Meat Eatery Regularly)
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