U.S. Income Tax Loophole
Sam, on host 24.61.194.240
Monday, April 15, 2002, at 07:10:40
This is a perfectly LEGAL way to make money through a loophole in the U.S. federal income tax system. The great thing about this loophole is that it is not likely to be closed, for practical reasons, in spite of the fact that MILLIONS OF DOLLARS are made by private citizens across the country each year.
Now, exploiting this loophole takes some time to prepare, so it's too late to do a rush job and make money THIS year. However, you can prepare for next year RIGHT NOW.
First, contact the human resources department of the company you work for and ask if you can fill out a new W-4 form. W-4 FORMS ARE FREE, AND YOUR EMPLOYER IS LEGALLY OBLIGATED TO PROVIDE THEM.
Next, fill out the W-4 form. Answer the questions on the form truthfully, EXCEPT for the questions near the end that ask about withholding extra money for a second job. Pretend you have a second job if you do not (if you get audited you can always just say that you EXPECTED to be starting a self-employment business later in the year but ultimately did not -- THIS IS PERHAPS LEGAL!). Then, on the second job worksheet on the back, OVERESTIMATE the amount of money you will make from this "second job." This is important. The more you overestimate, the more money you will make in the long run, so, remember, you cannot overestimate too much!!!!
When you finish filling out your W-4 form, ideally you should have in the neighborhood of 30-35 total deductions.
Turn in the completed W-4 form. IMAGINE HOW THE IRS WILL GROAN WHEN THEY SEE IT -- THEY WILL KNOW YOU WILL BE MAKING A LOT OF MONEY, BUT THERE WILL BE NOTHING THEY CAN LEGALLY DO ABOUT IT!
Next, wait patiently until it's time to pay taxes the following year. File your taxes normally! THERE IS NOTHING ELSE YOU NEED TO DO. That's the best part about this -- if you file normally, answering all questions perfectly truthfully and straightforwardly, the numbers will work out such that the IRS will HAVE to cut you a check for potentially THOUSANDS OF DOLLARS!!!!!!!
This method REALLY WORKS!!!!! Observe this testimony from someone who exploits this loophole annually and is now VERY RICH:
"I first started exploiting the W-4 Form Overestimation Income Tax Loophole in 1982. Since then I've made billions of dollars almost legally. I never have to work again if I don't want to!" -- Bill Gates.
DO NOT DELAY. Ask your employer for a new W-4 form today. The earlier you do this, the more money the government will give you next April!!!
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