Once Obama got into office the IRS would claim my cost basis on every single stock trade I made was zero. For example if I purchased $1000 in stock and sold it the next day for $1000 a few months after I filled my taxes they would send me a nasty vague letter claiming I had unreported income of $1000 and owed a few hundred in taxes. How many people got scared and just sent them a check? Probably a lot.
Once Obama got into office the IRS would claim my cost basis on every single stock trade I made was zero. For example if I purchased $1000 in stock and sold it the next day for $1000 a few months after I filled my taxes they would send me a nasty vague letter claiming I had unreported income of $1000 and owed a few hundred in taxes. How many people got scared and just sent them a check? Probably a lot.