T bills and IRS
You spoke on a BBB Q&A a couple years ago and said that T Bills were a good investment. This past year I have heavily invested in them. In July they started withholding some of my interest payments from deposits into my bank account. I tallied the amounts which are approximately $1300. I have no idea why and I do not know how to find out. Can you help me with my questions? Why are they keeping some of my interest payments? Are they not obligated to notify me?
Terry Says
Please read this article and then write back if you still have questions:
https://www.terrysavage.com/t-bills-beat-cds-2/
Just remember that when your T-bills “mature” after 3 or 6 months, if you’ve scheduled an “automatic rollover” then the interest is paid upfront into your bank account, and the full amount of your investment is rolled over. The article explains that.
NOTHING is withheld!
