Could this be true

[Boozer]

OK someone tell us if this is a way to NOT pay tax on our Dinar

[RVPleaseToday]

Magic words mean nothing to the IRS.

[TexasMike1958]

If you try to get around it....just make your reservations for Crowbar Hotel now.....they WILL find you. They are only interested in numbers.

Pay your taxes....then pay off your debts.....then sit on the beach with an umbrella drink in your hand

[dontlop]

OK someone tell us if this is a way to NOT pay tax on our Dinar

.. well lets pretend for a second ....if you were on business as an iraqi salesmen . and the dinar rved .. .. you are in canada .. and in the morning you fly to new york for business .. at the airport .. do ya think they are going to charge him taxes on his dinars at the " froeign currency exchange ".. we are not investing on the forex .. we are holding curency .... i can tell the irs i bought my dinars after the rv .. fo the rate its going for .. to help some iraqi out ...and would like to exchange it ..at the going rate .. what are they gonna do .. say no you have to pay taxes on it at 850 dollars per milion to the rv rate .. ?.. i didnt know when people come to the air port with currency to exchange they must have a reciept and proof of purchase .. ..

its just an exchange .. you will pay the fees .. i cant see them trying to make me pay taxes ..its up to them to prove me guilty of tax fraud .. not up to me to prove innocense .. id like to see their proof .. .. they may have records somewhere .. they did ask for id when i purchased it .. but i can simply say i lost those dinars .,. these are different ones .. . wheres there proof .?

ok no more pretending .. i want to pay taxes .. i like the way our govt operates .. by running me into debts i cannot pay back .. and smiling while they do it .. fake smiles of course ,, but they always put on that fake smile

[The Machine]

well all I know is (and this is fact from HM Revenue and Customs) it will be a tax free event in the UK if and when it happens.

Good luck to the rest of you I really hope you don't get stuck for a lot of tax's

and the attachment in the OP's post looks like its dated 2003 ?? (01-11-03)

[dontlop]

right now i got 500 bucks in my pocket .. and no reciept for it .. lol

[jeepguy]

mmmmmm will use exchange, if they throw a wrench in the plan ,,, i`ll pay the money i owe and be happy not to have to look over my shoulder all the time, checking who is coming for me, bad enough i`m dodgeing the prise patrol trying to give me 5,000 a month

[dontlop]

i dont know about those digital dinars over there in a warka account .. those could be wiped out and replaced with a new dinar for the same value .. like 1000 new ones for 1 million old ones ,, thats why i never bought into the iraqi bank account thingy .. i wanted to hold the phisical cash in hand ..

it could turn out that they are the only ones that do get to rv theres too .. who knows .. they could have a 24 hour rv ,., then im screwed but the digital guy is golden ,,,who knows .. all i know is im not buying my dinars till after the rv as far as the irs is concerned ..i will spread the wealth myself .. our govts sucks at spreading my wealth ..im way better at it .. like ill hire a contractor to build me a nice new home ... thats spreding it .. ill buy a new custom van .. ill take my american express and cruise around for a long time . living it up .. spreading all the cash i feel like spreading ..

[whatsthis]

OK someone tell us if this is a way to NOT pay tax on our Dinar

OK this could be true but than again it could be false, I am not an tax attorney. All I can say is when I asked my CPA who does my taxes & told him I hold dinars this is what he told me 2 years ago so it may have changed. " you invested in foreign currency , OK did you keep the receipt from when you bought it ?" I said yes. He than said " ok than it is like stock & you pay capital gains the receipt show how much you paid & ever thing over that is capital gains, long term is 15% (that was 2 years ago now I think I read it is 24.5%), & short term could be any where from 35% to 39 % depending how much you made."( now I think I read it has been made 39.5% so for get the 35%).

But if you have a tax attorney he will know how to get around all the new laws so you pay the least amount, That is why it is good to have one of those to work with your CPA.

[R Veyron]

If you try to get around it....just make your reservations for Crowbar Hotel now.....they WILL find you. They are only interested in numbers.

Pay your taxes....then pay off your debts.....then sit on the beach with an umbrella drink in your hand

Exactly, that's how I plan to do it.

[RVPleaseToday]

You think you are going to a currency exchange at the airport and they are going to hand you millions of dollars? I don't think it will be quite that easy to exchange your dinar. The IRS will be informed.

[Rayzur]

Most of those exchanging will likely go to a bank to do so...Then again, there may be some that go to an exchange window every day for 10 years... lol ..While others have made plans and arrangements with financial advisors.... But if you go to a bank... chances are that the exchange will be a digital one. Hard money in for numbers on the books (depending upon amount I would guess). In any case, the exchange of money does not involve taxes... thats kind of a no brainer.

The taxes will come in when you show a bank account with lots and lots of money in it. The bank does report to the IRS. So in that sense, the claim is correct that you don't pay your taxes to the bank (or exchange window). You pay them at the end of the fiscal year by the 15th of the following April ..... and at that time, it won't matter what flippn word you used to turn your dinar into dollars if that's the way you go... lol lol lol

[eastcreek]

OK someone tell us if this is a way to NOT pay tax on our Dinar

The answer to your question is IMO, no one knows. A regular currency exchange, like when I've traveled to Europe (3 times) and Egypt, has been a non-taxable event. HOWEVER, those are "small potatoes" compared o what we're all waiting on, so if/when this RV happens, I have to believe that our government will NOT let pass an opportunity to tax us. They will claim that this is special situa :angry:/> tion, and will tax us. Just watch !

[The Machine]

The answer to your question is IMO, no one knows. A regular currency exchange, like when I've traveled to Europe (3 times) and Egypt, has been a non-taxable event. HOWEVER, those are "small potatoes" compared o what we're all waiting on, so if/when this RV happens, I have to believe that our government will NOT let pass an opportunity to tax us. They will claim that this is special situa /> tion, and will tax us. Just watch !

I doubt they will hit you guys with exchange tax's .... there already gonna hit you with capital gains anyway.

but what do I know ...... (very little about the American tax system)

[unirod]

IMO; There will be thousands of new corporations formed when the R/V or R/I happens. They will be funded by by Iraqi Dinar either gifted or sold at a loss to the corporations. Many of these corporations will be domestic, but the smart ones will be offshore and international.

[RVPleaseToday]

In normal currency exchange situations, with the spreads, you are unlikely to make a profit on the money you've exchanged for a two week trip. Airports and hotels have notoriously high exchange rates, though. I'm pretty sure the IRS will get involved in the case of an RV.

[silas]

Make no mistake...Uncle Sam WILL get his piece of the pie. One way or another. There's the U.S. Govt., and then there's the IRS...

[jeepguy]

Make no mistake...Uncle Sam WILL get his piece of the pie. One way or another. There's the U.S. Govt., and then there's the IRS...

you said u.s. goverment and then i.r.s. i`ll be darned if i let my uncle sam get his mitts on my cash, uncle sam lives in another state and he better be buying dinar now hahahaha had to be said

[SocalDinar]

If we see a $1.00 RV could we not take our lower denoms to Vegas for the party. We exchange our 500 iqd notes

For $500 dollars minus the spread. No ID needed for transactions under a thousand dollars.

Play a hand or two of your favorite game and move down the strip to the next hotel.

Now that would be one heck of a weekend!

[umbertino]

The answer to your question is IMO, no one knows. A regular currency exchange, like when I've traveled to Europe (3 times) and Egypt, has been a non-taxable event. HOWEVER, those are "small potatoes" compared o what we're all waiting on, so if/when this RV happens, I have to believe that our government will NOT let pass an opportunity to tax us. They will claim that this is special situa :angry:/>/>/>/>/>/> tion, and will tax us. Just watch !

I'd tend to agree with you on the first part of your post in that we bought foreign currency in order to exchange it at any given ( more or less) moment ( favorable for us but this is not a crime)....It isn't ( theoretically) any different ( which means is the exact same thing) than for instance buying any "normal" currency for travelling like Euros, Yen, Swiss Francs, etc and it's not mandatory that one has to travel right after purchasing ( exchanging) said currency... One can keep those Euros, Yen, CDN's etc as long as one wants to and if in the meantime that currency turns out to rise in value ( against our own currency) and we made a gain that way..... Why should we pay taxes for it? When we come back from our foreign trips we exchange again the foreign currency into our own, right?

It's not an illogical reasoning I'd say.....

Then I'm perfectly aware of the fact that if "they" really want a slice of the pie they'll eventually get it.

Edited January 14, 2013 by umbertino

[uncirculd]

If you try to get around it....just make your reservations for Crowbar Hotel now.....they WILL find you. They are only interested in numbers.

Pay your taxes....then pay off your debts.....then sit on the beach with an umbrella drink in your hand

Good advice Texas! so true. Just do your duties, keep a clear conscious, and enjoy your life.