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I am hoping that someone can help this novice Fool. I have a question regarding Federal Withholdings. Is it legal to bring my withholdings down to zero and keep the money in a money market account earning seven % and then pay my taxes on April 15th in one lump sum?
I welcome any input. Especially a clear answer on this. I have spoke with a number of people and it seems to me most who have said I can't do that have been responding out of fear of that the IRS would get me or that I would spend the money and have none left when my taxes are due.
But is it legal?
thanks E
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