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Path: utzoo!watmath!clyde!floyd!harpo!ihnp4!fortune!norskog
From: norskog@fortune.UUCP (Lance Norskog)
Newsgroups: net.taxes,net.invest
Subject: IRA trick
Message-ID: <2843@fortune.UUCP>
Date: Mon, 26-Mar-84 18:31:43 EST
Article-I.D.: fortune.2843
Posted: Mon Mar 26 18:31:43 1984
Date-Received: Tue, 27-Mar-84 03:03:10 EST
Organization: Fortune Systems, Redwood City, CA
Lines: 19

[Man proposes, news disposes]

You'll love this one.

Suppose you have a salary job, and don't have $2000 now to buy an IRA for '83,
but you will get almost that much from your (interest-free) tax rebate.
Here's what you do:
	1) File for an extension, its automatic and lasts till 8/15/84
	2) Assume you have purcashed your IRA, fill out your return,
	   and mail it April 16.
	3) Since you have an extension, you ALSO HAVE UNTIL 8/15/84
	   TO BUY THE IRA!  Wait for your return check, which should
	   come before 8/15, and buy the IRA.

Slick, eh?

Lance C. Norskog
Fortune Systems, 101 Twin Dolphin Drive, Redwood City, CA
{cbosgd,hpda,harpo,sri-unix,amd70,decvax!ihnp4,allegra}!fortune!norskog