Last Updated 15 Apr 2020

Hilda Black Tax Letter

Category Tax
Words 246 (1 page)
Views 11

Interest Charges Dear Mrs... Black: Thank you for your phone call in regards to your concern about the interest penalties and charges from the IRS regarding the bonds you cashed in last April during tax time. I write you this letter to inform you that I am unable to pay these fines, as explained in this letter. Last April, you called and kindly asked if rolling funds over room one retirement fund to another Is considered a tax event.

When doing this type of transaction, if done within 60 days, Is not considered a tax event. When these funds are drawn to supplement retirement income, taxes are paid on the portion representing interest earned. On the contrary, bonds are not the same type of transaction as retirement accounts In terms of Interest paid during tax time. Unfortunately, the IRS requires that taxes be paid on interest made and/or capital main the April following cashing In these bonds.

The $1 ,309. 72 In taxes and penalties you are receiving are from cashing In the bonds we spoke of last year. I am not In a position where I am liable for these charges, and apologize for any confusion from our talk last year. I value you as my client, and strive for the best relationship possible. If I can be of any help In communication with the IRS, or If you have any questions before or during next tax season, please do not hesitate to call me. Sincerely, Alyssa Hill

Order custom essay Hilda Black Tax Letter with free plagiarism report

GET ORIGINAL PAPER
Hilda Black Tax Letter essay

This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it.

Get professional help and free up your time for more important courses

Starting from 3 hours delivery 450+ experts on 30 subjects
get essay help 124  experts online

Did you know that we have over 70,000 essays on 3,000 topics in our database?

Cite this page

Explore how the human body functions as one unit in harmony in order to life

Hilda Black Tax Letter. (2017, Nov 08). Retrieved from https://phdessay.com/hilda-black-tax-letter/

Don't let plagiarism ruin your grade

Run a free check or have your essay done for you

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer