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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

983.0. "Vanguard error on 1099-DIV forms" by PADC::KOLLING (Karen) Fri Mar 01 1996 17:45

    From the inline WSJ:
    
    VANGUARD GROUP says it made a mistake in instructions on tax
     forms it sent to mutual-fund shareholders. The error on Form
     1099-DIV is in the explanation of how to pay taxes on capital-gains
     distributions; figures for the distributions themselves are reported
     correctly, Vanguard says. The glitch could lead investors to underpay
     tax on capital-gains distributions. Vanguard thinks the error could
     affect about one million of its five million investors, though
     accountants should catch the mistake. Vanguard is mailing corrected
     forms to holders who call and ask, but says the cost of mailing new
     forms to all would be ''prohibitive.''
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