End the Phantom Gains Tax: How the GROWTH Act Can Protect 40 Million American Savers.
(ThyBlackMan.com) Did you know that nearly 40 million Americans are hit with a surprise tax each year on gains they never received? $1,500 is the average amount millions of savers pay the IRS every year in phantom gains taxes. Why? Because buried deep in our outdated tax code is a policy that penalizes Americans holding mutual funds in brokerage accounts. When mutual fund managers make trades within a fund, even […]