Talk of The Villages Florida - View Single Post - Interest portion of bond payment tax deductible?
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Old 10-16-2012, 12:22 AM
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Geewiz Geewiz is offline
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OK - who here has been audited and had to pony up additional taxes on bond interest with a penalty assessed? And...trust me..if no one raises his or her hand it ain't because folks aren't taking it as a deduction. Tax attorneys deal with 2 issues...is it absolutely "safe" and will it get you audited. In this case the answer is 1. No and 2. Probably not. Remember, TV has been called (rightly or wrongly) the STD capital of Fla. I don't think folks here are risk averse. Of course, we can make a big fuss and get a bunch of folks audited or we can let the sleeping dog stay asleep. It is probably iffy enough to not make it today's new IRS cause. Hell, we have political groups running ads and taking tax deductions for doing it...and we have tons of folks parking their money in Swiss accounts and it's not because their money has an affinity for good chocolate and cowbells. Ok - all together now...let's take a big collective sigh and relax.
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