Investing General Discussion

Bandwagon

Bandwagon

Kolohe
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Sorry if there is a better place to ask this, but I didn't see one.

I just finished my taxes for 2019, and found out that I'd never filed my 2016 taxes. I have/had a federal refund for that year, but supposedly too much time has passed and I don't get those sweet dollar bills.

Does this sound correct? Is there a Karen in a government office somewhere that I can call and get this rectified?
 
Attog

Attog

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no tax expert here but they should at least defer that amount against future monies owed
 
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Furry

Furry

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Bandwagon said:
I just finished my taxes for 2019, and found out that I'd never filed my 2016 taxes.
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If you were going to get money from the government, it's probably too late. If you owed the gov money I'd file asap and prepare for an asspounding that wont be as bad as waiting even longer

1-866-681-4271 Karen hotline.
 
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LachiusTZ

LachiusTZ

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Bandwagon said:
Sorry if there is a better place to ask this, but I didn't see one.

I just finished my taxes for 2019, and found out that I'd never filed my 2016 taxes. I have/had a federal refund for that year, but supposedly too much time has passed and I don't get those sweet dollar bills.

Does this sound correct? Is there a Karen in a government office somewhere that I can call and get this rectified?
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Your refund statute is expired. Nothing to rectify.

Definitely file it tho. Or you might get an IRS generated return. Which is not ideal.
 
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Blazin

Blazin

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Sanrith Descartes said:
Blazin Blazin Needs some help. There is a SPAC formed for the purpose of a merger/acquisition (VTIQ). Going to merge/acquire Nikola. I have read the 10K but not clear on how the shares will be converted once it completes this month. It reads the Nikola will be a wholly owned subsidiary of VectoIQ. Can you provide some guidance on how this stuff works if you know.
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Not familiar with the transaction, as far as them doing it this way sounds like it's similar to what Virgin Galactic just did. It's an alternative to a traditional IPO they just find one of these holding entities that then becomes the new public company. When I was trying to study the SPCE transaction I found it rather confusing to understand what the balance sheet was going to look like. Sorry can't be more helpful here, but my only idea would be to wait until the first full release of financials after the merger is complete and ticker changes then make a decision if it's an investment you want to make. The pre merger VTIQ financials are meaningless.
 
Sanrith Descartes

Sanrith Descartes

Von Clippowicz
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Options market acting a little weird today. Options spreads are blowing out on very liquid stocks all of a sudden. I saw PFE put go from 0.17 to 4.5 while the stock is going up
 
Furry

Furry

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Sanrith Descartes said:
Options market acting a little weird today. Options spreads are blowing out on very liquid stocks all of a sudden. I saw PFE put go from 0.17 to 4.5 while the stock is going up
Click to expand...

Next week should be a fun ride toward the end. Lots of meat futures settle mid next week, and wti settles on the 18th I believe. The price is going to have to come to the reality that a lot of people holding crude don't have space for the 42000+ gallons of crude a contract requires them to take.

The credit market is still the biggest risk by far, but also not very publicly visible.
 
Sanrith Descartes

Sanrith Descartes

Von Clippowicz
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Furry said:
Next week should be a fun ride toward the end. Lots of meat futures settle mid next week, and wti settles on the 18th I believe. The price is going to have to come to the reality that a lot of people holding crude don't have space for the 42000+ gallons of crude a contract requires them to take.

The credit market is still the biggest risk by far, but also not very publicly visible.
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But if everyone had just bought AAPL and MSFT at the bottom we would all be RICH!!!
 
Locnar

Locnar

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I'm focused on cherry picking shares to get my holdings to round share numbers of 50, 100, 150 , etc lots. I'm OCD that way. Other than those minor purchases I'm out of the game and just waiting long term for the tide to rise back up. If I see a way to make my cost basis better I'll buy a rounded off share lot of it, I'm looking at YOU delta that I bought in the low 30's and wish I had waited more, sigh.
 
Sanrith Descartes

Sanrith Descartes

Von Clippowicz
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Locnar said:
I'm focused on cherry picking shares to get my holdings to round share numbers of 50, 100, 150 , etc lots. I'm OCD that way. Other than those minor purchases I'm out of the game and just waiting long term for the tide to rise back up. If I see a way to make my cost basis better I'll buy a rounded off share lot of it, I'm looking at YOU delta that I bought in the low 30's and wish I had waited more, sigh.
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I gave up on that once my dividend reinvestment hit and I end up with XXX.23 shares of a stonk.
 
wormie

Asshat wormie

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www.frbatlanta.org

GDPNow

Provides a
www.frbatlanta.org www.frbatlanta.org

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -34.9 percent on May 8, down from -17.6 percent on May 5. "

Uhhh....RIP?
 
Sanrith Descartes

Sanrith Descartes

Von Clippowicz
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wormie said:
www.frbatlanta.org

GDPNow

Provides a
www.frbatlanta.org www.frbatlanta.org

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -34.9 percent on May 8, down from -17.6 percent on May 5. "

Uhhh....RIP?
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Hopefully rhe market priced in -50% and then it will shoot straight to the moon. 😀
 
Blazin

Blazin

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There is no current economic news that will rattle this market. Something that effects 2021 it will respond to. Markets don't go down during bad economic news, they go up. That's not new it's always been true. They go down proceeding bad news and usually rally during the worst. (For example during the GFS the market rallied a year before the economy showed any real signs of improving) That is not what makes this market rally "crazy". It's that the market so quickly determined that the worst was already known. We are all going to find out together, the price means we should be seeing strong job growth later this year. If the market is wrong on that, even that doesn't mean crash it may just mean we stall out and stay stuck in a range. We only go down demonstrably again if there is something new that shows the worst is not behind us.

I'm still sticking with that current EPS estimates for 2021 are too high at $165-170 on the S&P. If we end up at $150 through a 20 multiple on that because of zero rates and you end up with a price target of 3,000 . If we see 3-4 qtrs of GPD decline instead of recovery and we start ratcheting that EPS down to $130 and the market only pays a 18 multiple for slowing growth then we see a revised level of 2,340. If you bet on the bearish scenario and are wrong you'll be sitting on a pile of cash earning nothing stuck deciding if you want to buy the S&P at 3400 after a 60% run off the low.

The other factor is that the market is realizing that the people who lost their jobs don't matter as much to the companies that are driving this rally, we are seeing a side effect of concentrated wealth. This is a cause for societal concerns and discontentment amongst the poor more than it's a worry for Tech earnings.
 
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