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Wealth
Savings & Retirement

‘I Put Faith in These Guys’: Vanguard Clients Decry Tax Debacle

Investor says he got hit with $30,000 surprise bill and thousands of others may have seen impact after firm made change to target-date funds.

Vanguard Group founder John C. Bogle in 2014.
Vanguard Group founder John C. Bogle in 2014.Photographer: Peter Foley

Mike Quinn does his own taxes. 

He pores over IRS Publication 17, a guide for individual filers, with the zeal of a certified public accountant, and he meticulously calculates how much money to set aside each April.