Fast and Easy: Your Virtual Savings Bond
It’s tax time. And one of the lawyers in my office was going ape over IRS requirements on filing various forms. Specifically, the IRS has decreed that all W-2’s must be filed electronically. If you file a handwritten W-2, it will be assumed that there is fraud and the filer will be subject to audit. The rules are a little less stringent with 1099’s, but still you have to be a Philadelphia lawyer and CPA to figure who does or does not get a 1099. All of this, of course, must be verified by YOUR signature on YOUR tax return under the severest of penalties…and the threat in the booklet reads like a horror movie. Another gift from your friendly progressive Obama who is afraid you may make a nickel. Even more disturbing, and almost poignantly sad, my buddy who has several grandchildren, went to buy his granddaughter a birthday savings bond. Guess what!!! No more paper savings bonds. Instead, you get an electronic account that you may only access through use of a computer...