IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Colin Cody who wrote (379)	6/28/1998 12:39:00 AM
From: CountofMoneyCristo	Read Replies (2) of 1383

I've just spent the past four hours reading through this thread start to finish and am amazed at the lack of clarity in IRS rules. Thank God for the bills going through Congress right now giving taxpayers important rights, making it much more difficult for the government to seize property and assets, and laying the burden of proof on the IRS' doorstep. That's only as it should be. It's disgraceful that it ever was any different. The IRS should have been abolished long ago. The entire tax code should be scrapped! Hmmf! Glad I got that off my chest, and I apologize to all for the diatribe, but the confusion on these issues makes me sick - it is designed to be that way in order to fill the government's coffers even more than they should be. (There I go again.) Alright, a simple question that has not been addressed yet, amazingly enough: what is the top federal tax rate under which professional day-trading (thus classified as such)income can fall? Is it 39.6%, or less? Thanks. I hope this brings a clear, concise response, though somehow I doubt it...

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