You could always try to write the penalty abatement letter and see how the IRS responds. For example, does breaking your arm constitute a physical illness?
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By Jason Hoerr, contributed by forexfraud, most new traders never have concern themselves with finding out the specifics of taxes in relation to forex trading. 30 other states have enacted their own work-arounds to the new 10,000 salt deduction limitation. . This helps the IRS understand how much time elapsed between each development. Section 1256 is the standard 60/40 capital gains tax treatment. If the above net income is higher, the 20 is phased out until it reaches zero at 207,500 or 415,000.
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