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Author
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Topic: Some good news for tax payers...
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AL STOCK
Its All Stock
Cuzzon
Member # 1852
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posted
 
 
http://news.yahoo.com/s/ap/20080824/ap_on_bi_ge/tax_fight_irs_loses
Not all but some may benefit - The dude beat the IRS!
It's not clear how many people could benefit from the ruling. Many of the 30 million policyholders are probably too late to seek refunds, since claims must be filed within three years of the April 15 tax deadline. That means the statute of limitations for taxes paid for 2004 ran out April 15, 2008
[ August 25, 2008, 05:50 AM: Message edited by: AL STOCK ]
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50 Deep
Jockin 03 Cobras
Member # 6216
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posted
Sticking it to the MAN!!!
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Posts: 6043 | From: sacramento | Registered: Nov 2005
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iceman302
¯
Member # 7180
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posted
quote:
Originally posted by AL STOCK:
http://news.yahoo.com/s/ap/20080824/ap_on_bi_ge/tax_fight_irs_loses
Not all but some may benefit - The dude beat the IRS!
It's not clear how many people could benefit from the ruling. Many of the 30 million policyholders are probably too late to seek refunds, since claims must be filed within three years of the April 15 tax deadline. That means the statute of limitations for taxes paid for 2004 ran out April 15, 2008
It's great that he beat the IRS at their own game, but the rule that he beat is pretty obscure and doesn't really apply to very many taxpayers, especially now. It stems from the demutualization of insurance companies and the company stock generated from those transactions. There aren't many companies that have recently made that change and very few mutual insurance companies left.
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'65 Mustang Fastback
Posts: 4171 | From: Rancho Murieta | Registered: Oct 2006
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