Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/18/84; site brl-tgr.ARPA Path: utzoo!linus!philabs!cmcl2!seismo!brl-tgr!ron From: ron@brl-tgr.ARPA (Ron Natalie ) Newsgroups: net.taxes Subject: Re: Waiting for my return Message-ID: <10621@brl-tgr.ARPA> Date: Mon, 13-May-85 14:39:01 EDT Article-I.D.: brl-tgr.10621 Posted: Mon May 13 14:39:01 1985 Date-Received: Thu, 16-May-85 02:46:52 EDT References: <13400001@ism70.UUCP> <678@mtuxo.UUCP> <1669@bmcg.UUCP> Organization: Ballistic Research Lab Lines: 15 > Before everybody runs out to spend their extra 13% think about it. > The Feds are not that stupid (????) Nobody is going to give anybody > 13% of anything on the first day. You will get the good old 13% BUT > the way it was explained to me was that it is prorated over 365 days. > EXAMPLE: Your refund is $700. then 700*.13= 91. 91/365= .247 cents. > Congratulations, you've just figured out how annual rates go. You think they make you pay 14% on your car loan daily? Consider that they aren't being all that fair, because they charge you 20% interest when you owe them money, even if it was their mistake (for example, if they sent you a refund check that was bigger than what you were supposed to get). -Ron