Pull your tags just under the first 2 turns , then cut them and pull them completely under, don't pull them thru or you just make unnecessary work. If you already have them sticking out, then shave them with a fresh razor blade after the second coat, then apply more coats as needed to completely bury the thread. Let the last coat cure for at least 2 days, longer is better, then sand them flat with 1200 grit wet/dry wrapped around a small sanding block being VERY CAREFULL!!!! not to sand thru to the thread. I can't stress this enough, if you hit the thread you will make an odd spot that won't finish right. Then dip the rod as many times as it takes to get the finish you want, let each coat dry for at least 3 days before you sand it, don't pay any attention to what the can says about sanding the next day, the varnish will just ball up under the sand paper and make a mess out of all your hard work.
john