Short term investing $10K? Capitalizing on an IRS screw up.
 

The IRS screwed up and direct deposited $10k into my bank account. I called the local IRS office to report it but they said that it would take 3-4 months for them to get back to me. Apparently they are in the heat of processing all of the taxes for '06 so they will get to me when they can get to me. No big deal.

I have a savings account at Wachovia but if I left it in there for 3-4 months I would probably yield a whopping $100 (if that and if I'm lucky).

I have $10k that I can use to invest short-term since eventually they will contact me and I'll have to pay them back. I have 3-4 months to make the most of my $10k. What would you suggest?

Sorry for posting an investment thread on GFY. Please don't P.O.T.C. me for it.

*P.O.T.C. = Passion of the Christ

Leave it in there and it's a set up

Invest in waffle irons quick!

not a good idea....

your joking right?

1. If you touch it, you could be committing a crime.

2. If you invest it in a risky high yield investment, it could lose money, and then you'd be screwed.

3. No matter, the IRS will charge you interest. The IRS will likely charge you more interest than you will make on your proposed investment.

...so...

Leave it alone!

Invest it in a CD or GIC, its secure. I'd do about 2 month terms, that way you can get it back pretty quickly if needed.
WG

Some of the janus funds have been getting me 20% the past year. The mercury fund has tripled the last few years but I think that fund is closed ?

They have some other good funds though !

Another good place to get some fund ideas is http://www.bobbrinker.com/

Sounds like a bad plan

Amen. Don't fuck wit da tax man.

:2 cents: