Absolutely, Positively NO TAXES

[denzoid]

Currency trading has a entirely different tax..Look up CFR U.S. Title 26, 7701(A))26) It is not short term Capital Gains.

Subject: A MUST READ! @ Taxes

You all may want to save this article when the Dinar "RI's"

PROOF your IQD Trade is NOT taxable

--------------------------------------------------------------------------------

There is a persistent insistence on this forum about the eventual exchange of IQD for large amounts of FRNs as being a taxable activity. Let's look at what the IRS and Congress have to say about it.

First, you must know that there is one thing and one thing only that is taxed under Subtitle A of the Internal Revenue Code, and that is any "gains, profits, or income" derived from ANY source in the course of public office in the "United States." Put another way -- the ONLY activity taxed under Subtitle A is "gains, profits or income" in the course of a "trade or business." There is NOTHING else under Subtitle A that is taxed. Sure, remuneration for labor or capital gain is taxed, but you have to remember to keep the language in its proper context. These things are taxed ONLY in the course of a "trade or business." NOTHING ELSE! Period! (Dissenters welcome -- provide proof)

26 USC 7701(a)(26) defines "trade or business" as follows:

Quote:

The term "trade or business" includes the performance of the functions of a public office.

"Includes?" Everyone knows what that means....or....maybe not.

26 USC 7701© defines the term "includes" as follows:

Quote:

The terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.

Geee! Is there anyone out there in dinar land that is wondering why Congress would create such a confusing and convoluted definition that must be followed exclusive to the standard canons of statutory construction? There is a standard treatment in law of the term "include," but we have here IRS legal terms of art .... "includes" and "including." Is anyone suspicious as to why? Come on!! Wake up!!!

So we see, the term "includes" is a term of enlargement. But that enlargement ONLY extends to other things within the meaning of "public office" so defined. In essence, the term "trade or business" ONLY includes the excise taxable ACTIVITY of public office in the "United States" and related "positions" and "employments." The measure of activity is in-turn taxed by the "gains, profits, and income" affiliated with THAT activity. Since anyone engaged in such "United States" activity is taxed on their $$$ earned in the course of that activity -- it is easily misunderstood that anyone earning $$$ must therefore also be subject to the tax. READ THAT LAST PART AGAIN, IT SHOULD ESCAPE NO ONE. Do you think your misunderstanding of this is an unfortunate "accident?" (The term "United States" in this instance refers to the Federal Government. But that is a topic for another thread.)

Now, let's examine exactly what the Internal Revenue Code says about information returns obtained at "source," as in "whatever source derived." I'll hi-lite the narrowly defined legal terms so you know what it is really saying.

26 USC 6041 states:

Quote:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e), 6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or 6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.

Most of this language is a holdover from the original Revenue Act of 1862, including the reporting threshold of $600, which for any of you who have a basic knowledge of tax history will immediately recognize.

Now this is the ONLY provision in Subtitle A which dictates when and why information returns, such as 1099s are to be issued. Are there any challengers to this out there in dinar land? Please provide the legal language if you disagree.

Now, this language is very clear as to what is reportable, and what is not. I keep reading posts from ill-informed, "patriotic" Americans on this forum who think it their duty to provide the IMF with a percentage of their God-given bounty (provided that IQD RV bounty occureth – don’t hold your breath). Since when? Do you all understand the provisions and limitations on Direct Taxes and capitations are still in force in our Constitution? Do you realize the Federal Income Tax is an Indirect Tax levied on "gains, profits, and incomes" derived from the EXCISE TAXABLE ACTIVITY of making money in association with the "United States" (government)? This would also include bringing the government into the mix by VOLUNTARILY submitting a W-4 [see 26 USC 3402(p)(3)] Do you realize that if you are not in a "public office" or other related "position" or "employment" with the "United States" that such a tax against your IQD would be an un-apportioned direct tax and capitation? Do you realize that they have camouflaged the legal terms associated with this excise taxable ACTIVITY to appear as broadly understood words that people understand as part of their every day lexicon? ALL of the items that are taxed under the Federal Income Tax, whether it be from labor, capital investment, rents, etc, etc ...... are ONLY taxed on the "officers" of the "United States," and of course those who SWEAR under penalty of perjury on their tax returns that they are.....regardless if they naively do so or not!

If, for example, the trade of stocks, or other financial instruments are taxable in a broad way such as many on this forum believe, then they would be taxable for all people. Remember, in an earlier post where I mentioned that Citizens of any of the 50 Union states are "foreign" and thus "alien" to the Federal Legal venue. If they also do not "reside" in Federal Territory, they are legally categorized as "nonresident." Thus, an American domiciled and living (there is a difference) in a Union state is a "nonresident alien." Let's look at what Publication 519, "Tax Guide for Aliens" says about such financial investments (pg 18):

Now this is only provided to show you that there ARE instances when these things are NOT taxable. For those of you who are ill-informed about these things, I provide you these insights as a means to "wake you up," and implore you to do your own due diligence.

I encourage healthy skepticism and debate. No mindless, sheep banter. Turn off the TV and think for yourselves. You have been lied to by the establishment, and your brainwashing is nearly complete. The truth will not contradict itself. I have provided you plain, black and white evidence with explanation. You are benefiting from years of qualified and expert legal background. But again, maybe I'm a hack who has no idea what I'm talking about. You can't believe anything from anyone, much less an internet forum. So think for yourselves. But I speak the truth. He who has eyes to see let him see. He who has ears to hear let him hear.

Quote:

When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.

Donald James (1931-2008)

Intelligent discussion please!

Gary Newman

The STRIPPER

www.thestripper.us

[Unitedrich]

Alright, maybe there is not tax if there is an RI as is stated and been mentioned before many times. But what about an RV? If anyone thinks the U.S. Govt, and the assorted tax entities affiliated with it would let a fish this big off the hook, I would sure like to see that

[krucialmix]

Uh..... Yeah. I'm gonna stay out of jail and pay taxes whether it's an I or a V, but that's just me.

[gman51]

I admire your dedication to this topic. I am a CPA and a Financial Analyst for the Government. I hold a Masters in Business and remember debating this very subject in class more than once. Although your assumptions may be right, the problem I have with fighting the Federal people on this issue is the fact that many have ended up in prison at the end of their quest. And for what motivation? GREED. I think I will happily pay my taxes and be thankful that my days left here on earth will be fill with the blessings received for helping others less fortunate than I with the remainder of my windfall. Good luck on fighting your fight. You can be sure they will come looking for you, if you choose to not pay your taxes.

[chiro]

Currency trading has a entirely different tax..Look up CFR U.S. Title 26, 7701(A))26) It is not short term Capital Gains.

Subject: A MUST READ! @ Taxes

You all may want to save this article when the Dinar "RI's"

PROOF your IQD Trade is NOT taxable

--------------------------------------------------------------------------------

There is a persistent insistence on this forum about the eventual exchange of IQD for large amounts of FRNs as being a taxable activity. Let's look at what the IRS and Congress have to say about it.

First, you must know that there is one thing and one thing only that is taxed under Subtitle A of the Internal Revenue Code, and that is any "gains, profits, or income" derived from ANY source in the course of public office in the "United States." Put another way -- the ONLY activity taxed under Subtitle A is "gains, profits or income" in the course of a "trade or business." There is NOTHING else under Subtitle A that is taxed. Sure, remuneration for labor or capital gain is taxed, but you have to remember to keep the language in its proper context. These things are taxed ONLY in the course of a "trade or business." NOTHING ELSE! Period! (Dissenters welcome -- provide proof)

26 USC 7701(a)(26) defines "trade or business" as follows:

Quote:

The term "trade or business" includes the performance of the functions of a public office.

"Includes?" Everyone knows what that means....or....maybe not.

26 USC 7701© defines the term "includes" as follows:

Quote:

The terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.

Geee! Is there anyone out there in dinar land that is wondering why Congress would create such a confusing and convoluted definition that must be followed exclusive to the standard canons of statutory construction? There is a standard treatment in law of the term "include," but we have here IRS legal terms of art .... "includes" and "including." Is anyone suspicious as to why? Come on!! Wake up!!!

So we see, the term "includes" is a term of enlargement. But that enlargement ONLY extends to other things within the meaning of "public office" so defined. In essence, the term "trade or business" ONLY includes the excise taxable ACTIVITY of public office in the "United States" and related "positions" and "employments." The measure of activity is in-turn taxed by the "gains, profits, and income" affiliated with THAT activity. Since anyone engaged in such "United States" activity is taxed on their $$$ earned in the course of that activity -- it is easily misunderstood that anyone earning $$$ must therefore also be subject to the tax. READ THAT LAST PART AGAIN, IT SHOULD ESCAPE NO ONE. Do you think your misunderstanding of this is an unfortunate "accident?" (The term "United States" in this instance refers to the Federal Government. But that is a topic for another thread.)

Now, let's examine exactly what the Internal Revenue Code says about information returns obtained at "source," as in "whatever source derived." I'll hi-lite the narrowly defined legal terms so you know what it is really saying.

26 USC 6041 states:

Quote:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e), 6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or 6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.

Most of this language is a holdover from the original Revenue Act of 1862, including the reporting threshold of $600, which for any of you who have a basic knowledge of tax history will immediately recognize.

Now this is the ONLY provision in Subtitle A which dictates when and why information returns, such as 1099s are to be issued. Are there any challengers to this out there in dinar land? Please provide the legal language if you disagree.

Now, this language is very clear as to what is reportable, and what is not. I keep reading posts from ill-informed, "patriotic" Americans on this forum who think it their duty to provide the IMF with a percentage of their God-given bounty (provided that IQD RV bounty occureth – don’t hold your breath). Since when? Do you all understand the provisions and limitations on Direct Taxes and capitations are still in force in our Constitution? Do you realize the Federal Income Tax is an Indirect Tax levied on "gains, profits, and incomes" derived from the EXCISE TAXABLE ACTIVITY of making money in association with the "United States" (government)? This would also include bringing the government into the mix by VOLUNTARILY submitting a W-4 [see 26 USC 3402(p)(3)] Do you realize that if you are not in a "public office" or other related "position" or "employment" with the "United States" that such a tax against your IQD would be an un-apportioned direct tax and capitation? Do you realize that they have camouflaged the legal terms associated with this excise taxable ACTIVITY to appear as broadly understood words that people understand as part of their every day lexicon? ALL of the items that are taxed under the Federal Income Tax, whether it be from labor, capital investment, rents, etc, etc ...... are ONLY taxed on the "officers" of the "United States," and of course those who SWEAR under penalty of perjury on their tax returns that they are.....regardless if they naively do so or not!

If, for example, the trade of stocks, or other financial instruments are taxable in a broad way such as many on this forum believe, then they would be taxable for all people. Remember, in an earlier post where I mentioned that Citizens of any of the 50 Union states are "foreign" and thus "alien" to the Federal Legal venue. If they also do not "reside" in Federal Territory, they are legally categorized as "nonresident." Thus, an American domiciled and living (there is a difference) in a Union state is a "nonresident alien." Let's look at what Publication 519, "Tax Guide for Aliens" says about such financial investments (pg 18):

Now this is only provided to show you that there ARE instances when these things are NOT taxable. For those of you who are ill-informed about these things, I provide you these insights as a means to "wake you up," and implore you to do your own due diligence.

I encourage healthy skepticism and debate. No mindless, sheep banter. Turn off the TV and think for yourselves. You have been lied to by the establishment, and your brainwashing is nearly complete. The truth will not contradict itself. I have provided you plain, black and white evidence with explanation. You are benefiting from years of qualified and expert legal background. But again, maybe I'm a hack who has no idea what I'm talking about. You can't believe anything from anyone, much less an internet forum. So think for yourselves. But I speak the truth. He who has eyes to see let him see. He who has ears to hear let him hear.

Quote:

When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.

Donald James (1931-2008)

Intelligent discussion please!

Gary Newman

The STRIPPER

www.thestripper.us

Dear Denzoid,

You make a great argument. Very enlightening. I am afraid that you will likely be bashed by some here, as they and their so-called professionals are operating from well-within the box, and have never done the research to find Section A of Article 26. Most publications distributed for common view start only with Section B that we are all familiar with, that lists all the supposed "Sources of 'income'", but the understanding is not complete without the framework of Section A which you have provided.

You may be able to open the eyes of some. At the very least, I hope you do successfully get some good open discussion from this. Maybe in this way you can get some of the people to wake up and think before jumping off the cliff with the other lemmings.

Adam has great intentions to help, and I really appreciate his efforts. Some will save greatly as a result. For the rest who blindly follow their"advisors", who incidentally themselves have not likely EVER experienced this sort of life-changing wealth themselves, I hope they will at least print this out, do some research, and ask their advisors to confirm your post. Remember everyone, YOU are the stewards fo this money. How you grow it for the good of yourselves and others will depend exclusively on YOUR decisions. If you decide to entrust the responsibility to SOMEONE ELSE and they give you either bad investment or bad tax advice, IT WAS STILL YOUR DECISION AND RESPONSIBILITY.

Thank you Denzoid.

[denzoid]

Uh..... Yeah. I'm gonna stay out of jail and pay taxes whether it's an I or a V, but that's just me.

OK FINE.....CAN YOU TELL ME HOW YOU CALCULATE YOUR TAXES

[Den56]

OK FINE.....CAN YOU TELL ME HOW YOU CALCULATE YOUR TAXES

Denzoid . . . . . the IRS clearly defines our situation and I have posted it in this forum several times. This is NOT to say that "O" is not going to change things to get more of our $$$$$ through a "Windfall Profits Tax", or some other new tax, as Adam has suggested. Here is the info that I uncovered . . . . . .

IRS Publication 525 on "Foreign Currency Transactions"

Hey Gang . . . . .. I started this thread to try and share this info without constantly having to post it inside of other threads . . . .

As I have mentioned in this forum many times, go to irs.gov and on page 33 of the pdf format of IRS Publication 525, it very clearly states that concerning "Foreign Currency Transactions" . . . . "If you have a gain on a personal currency transaction because of changes in the exchange rates, you do not have to include that gain in your income unless it is more than $200. If the gain is more than $200, report it as a capital gain."

Of course, with today's politicians, this is subject to change, so stay tuned.

Hope this helps.

Dennis

P.S. I also posted this in rumors section for maximum exposure.

Read more:

[Butcher_AK]

Currency trading has a entirely different tax..Look up CFR U.S. Title 26, 7701(A))26) It is not short term Capital Gains.

Subject: A MUST READ! @ Taxes

You all may want to save this article when the Dinar "RI's"

PROOF your IQD Trade is NOT taxable

--------------------------------------------------------------------------------

There is a persistent insistence on this forum about the eventual exchange of IQD for large amounts of FRNs as being a taxable activity. Let's look at what the IRS and Congress have to say about it.

First, you must know that there is one thing and one thing only that is taxed under Subtitle A of the Internal Revenue Code, and that is any "gains, profits, or income" derived from ANY source in the course of public office in the "United States." Put another way -- the ONLY activity taxed under Subtitle A is "gains, profits or income" in the course of a "trade or business." There is NOTHING else under Subtitle A that is taxed. Sure, remuneration for labor or capital gain is taxed, but you have to remember to keep the language in its proper context. These things are taxed ONLY in the course of a "trade or business." NOTHING ELSE! Period! (Dissenters welcome -- provide proof)

26 USC 7701(a)(26) defines "trade or business" as follows:

Quote:

The term "trade or business" includes the performance of the functions of a public office.

"Includes?" Everyone knows what that means....or....maybe not.

26 USC 7701© defines the term "includes" as follows:

Quote:

The terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.

Geee! Is there anyone out there in dinar land that is wondering why Congress would create such a confusing and convoluted definition that must be followed exclusive to the standard canons of statutory construction? There is a standard treatment in law of the term "include," but we have here IRS legal terms of art .... "includes" and "including." Is anyone suspicious as to why? Come on!! Wake up!!!

So we see, the term "includes" is a term of enlargement. But that enlargement ONLY extends to other things within the meaning of "public office" so defined. In essence, the term "trade or business" ONLY includes the excise taxable ACTIVITY of public office in the "United States" and related "positions" and "employments." The measure of activity is in-turn taxed by the "gains, profits, and income" affiliated with THAT activity. Since anyone engaged in such "United States" activity is taxed on their $$$ earned in the course of that activity -- it is easily misunderstood that anyone earning $$$ must therefore also be subject to the tax. READ THAT LAST PART AGAIN, IT SHOULD ESCAPE NO ONE. Do you think your misunderstanding of this is an unfortunate "accident?" (The term "United States" in this instance refers to the Federal Government. But that is a topic for another thread.)

Now, let's examine exactly what the Internal Revenue Code says about information returns obtained at "source," as in "whatever source derived." I'll hi-lite the narrowly defined legal terms so you know what it is really saying.

26 USC 6041 states:

Quote:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e), 6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or 6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.

Most of this language is a holdover from the original Revenue Act of 1862, including the reporting threshold of $600, which for any of you who have a basic knowledge of tax history will immediately recognize.

Now this is the ONLY provision in Subtitle A which dictates when and why information returns, such as 1099s are to be issued. Are there any challengers to this out there in dinar land? Please provide the legal language if you disagree.

Now, this language is very clear as to what is reportable, and what is not. I keep reading posts from ill-informed, "patriotic" Americans on this forum who think it their duty to provide the IMF with a percentage of their God-given bounty (provided that IQD RV bounty occureth – don’t hold your breath). Since when? Do you all understand the provisions and limitations on Direct Taxes and capitations are still in force in our Constitution? Do you realize the Federal Income Tax is an Indirect Tax levied on "gains, profits, and incomes" derived from the EXCISE TAXABLE ACTIVITY of making money in association with the "United States" (government)? This would also include bringing the government into the mix by VOLUNTARILY submitting a W-4 [see 26 USC 3402(p)(3)] Do you realize that if you are not in a "public office" or other related "position" or "employment" with the "United States" that such a tax against your IQD would be an un-apportioned direct tax and capitation? Do you realize that they have camouflaged the legal terms associated with this excise taxable ACTIVITY to appear as broadly understood words that people understand as part of their every day lexicon? ALL of the items that are taxed under the Federal Income Tax, whether it be from labor, capital investment, rents, etc, etc ...... are ONLY taxed on the "officers" of the "United States," and of course those who SWEAR under penalty of perjury on their tax returns that they are.....regardless if they naively do so or not!

If, for example, the trade of stocks, or other financial instruments are taxable in a broad way such as many on this forum believe, then they would be taxable for all people. Remember, in an earlier post where I mentioned that Citizens of any of the 50 Union states are "foreign" and thus "alien" to the Federal Legal venue. If they also do not "reside" in Federal Territory, they are legally categorized as "nonresident." Thus, an American domiciled and living (there is a difference) in a Union state is a "nonresident alien." Let's look at what Publication 519, "Tax Guide for Aliens" says about such financial investments (pg 18):

Now this is only provided to show you that there ARE instances when these things are NOT taxable. For those of you who are ill-informed about these things, I provide you these insights as a means to "wake you up," and implore you to do your own due diligence.

I encourage healthy skepticism and debate. No mindless, sheep banter. Turn off the TV and think for yourselves. You have been lied to by the establishment, and your brainwashing is nearly complete. The truth will not contradict itself. I have provided you plain, black and white evidence with explanation. You are benefiting from years of qualified and expert legal background. But again, maybe I'm a hack who has no idea what I'm talking about. You can't believe anything from anyone, much less an internet forum. So think for yourselves. But I speak the truth. He who has eyes to see let him see. He who has ears to hear let him hear.

Quote:

When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.

Donald James (1931-2008)

Intelligent discussion please!

Gary Newman

The STRIPPER

www.thestripper.us

[bahtman]

OK FINE.....CAN YOU TELL ME HOW YOU CALCULATE YOUR TAXES

Denzoid,

Maybe some tax law and some regulations are vague but,

I don't think it gets any clearer than this:

IRS Publication 525 clearly states that concerning "Foreign Currency Transactions" . . . . "If you have a gain on a personal currency transaction because of changes in the exchange rates, you do not have to include that gain in your income unless it is more than $200. If the gain is more than $200, report it as a capital gain."

[ajob]

For the record, my tax accountant has repeatedly told me that exchanging foreign currencies is not a taxable event.

No matter how many times I have explained the situation to him he has not changed his position.

In the end I will check with a tax attorney and do what is right but I am hoping he is correct.

I can't imagine that the US gov, knowing that this will happen, is not going to take advantage of it to collect.

[Butcher_AK]

Ok... STOP ME IF I AM WRONG BUT I'M ALMOST POSTIVE THAT THIS NEW HEALTh CARE BILL HAS AN HIDDen FOREIGN CURRENCY TAX WITH IN IT. And if I know uncle Sam he has his hands in everyone's pocket. I'll look for that link when I get time, just another day Iraq. U guys keep up the good work.

God speeds,

LBB

[Cherysh]

Denzoid,

Maybe some tax law and some regulations are vague but,

I don't think it gets any clearer than this:

IRS Publication 525 clearly states that concerning "Foreign Currency Transactions" . . . . "If you have a gain on a personal currency transaction because of changes in the exchange rates, you do not have to include that gain in your income unless it is more than $200. If the gain is more than $200, report it as a capital gain."

Exactly what we were told by our accountant a few days ago, it is a capital gain.

[bobby_cahill]

numerous post, numerous answers, wayyyyyyy different opinions/interpertations!

sit on your dinars, let what happens happens and when it comes time to exchange, sit tight (again), wait and let the fog clear

we've all been told to consult in different entities as far as tax attorneys, cpa's, financial planners, yadda yadda yadda , surely during this whole rollercoaster we have all done our homework and will be PREPARED when the time comes

I love debate but sometimes debate leads to confussion. I know i am

gimme me an official exchange rate and i'll be happy

Semper Fi

[Adam Montana]

I admire your dedication to this topic. I am a CPA and a Financial Analyst for the Government. I hold a Masters in Business and remember debating this very subject in class more than once. Although your assumptions may be right, the problem I have with fighting the Federal people on this issue is the fact that many have ended up in prison at the end of their quest. And for what motivation? GREED. I think I will happily pay my taxes and be thankful that my days left here on earth will be fill with the blessings received for helping others less fortunate than I with the remainder of my windfall. Good luck on fighting your fight. You can be sure they will come looking for you, if you choose to not pay your taxes.

My wife is a CPA as well. I asked her one time "What about the theory that the IRS isn't even a legal entity?" She looked at me like I was an idiot and said "I don't know, why don't you go ask so-and-so why they're sitting in jail or had all of their assets seized and then we'll continue the conversation."

[Bobbydee]

numerous post, numerous answers, wayyyyyyy different opinions/interpertations!

sit on your dinars, let what happens happens and when it comes time to exchange, sit tight (again), wait and let the fog clear

we've all been told to consult in different entities as far as tax attorneys, cpa's, financial planners, yadda yadda yadda , surely during this whole rollercoaster we have all done our homework and will be PREPARED when the time comes

I love debate but sometimes debate leads to confussion. I know i am

gimme me an official exchange rate and i'll be happy

Semper Fi

I hear you loud and clear. First things first, rv or ri then PAY taxes. If it turns out that it is non taxable, I'm sure the govt. will send it back.LOL SEMPER FI to you my brother. hoorah!

[DaveH]

I have posted this link several times berfore. Note paragraph 7. This is in effect until the end of this year or until the big O changes it. Hope this answers the question.

Have you heard of capital gains and losses? If not, you may want to read up on them because they might have an impact on your tax return. The IRS wants you to know these ten facts about gains and losses and how they could affect your tax situation.

1. Almost everything you own and use for personal purposes, pleasure or investment is a capital asset.

2. When you sell a capital asset, the difference between the amount you sell it for and your basis – which is usually what you paid for it – is a capital gain or a capital loss.

3. You must report all capital gains.

4. You may deduct capital losses only on investment property, not on property held for personal use.

5. Capital gains and losses are classified as long-term or short-term, depending on how long you hold the property before you sell it. If you hold it more than one year, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term.

6. If you have long-term gains in excess of your long-term losses, you have a net capital gain to the extent your net long-term capital gain is more than your net short-term capital loss, if any.

7. The tax rates that apply to net capital gain are generally lower than the tax rates that apply to other income. For 2009, the maximum capital gains rate for most people is15%. For lower-income individuals, the rate may be 0% on some or all of the net capital gain. Special types of net capital gain can be taxed at 25% or 28%.

8. If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.

9. If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.

10. Capital gains and losses are reported on Schedule D, Capital Gains and Losses, and then transferred to line 13of Form 1040.

For more information about reporting capital gains and losses, see the Schedule D instructions, Publication 550, Investment Income and Expenses or Publication 17, Your Federal Income Tax. All forms and publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676)

http://www.irs.gov/newsroom/article/0,,id=106799,00.html

[Cosmo]

Yow everyone! Are we there yet??? I plan to go a Tax Attorney once we get our RV or RI. Meanwhile I'm just chillin' down here on the ranch...

[SuperFlyJr]

Yow everyone! Are we there yet??? I plan to go a Tax Attorney once we get our RV or RI. Meanwhile I'm just chillin' down here on the ranch...

Ditto. I thought about joining VIP for some good advice but considering even you, a VIP, are going to do the same I kinda wonder what you guys are learning over there...?

[DaveH]

Ditto. I thought about joining VIP for some good advice but considering even you, a VIP, are going to do the same I kinda wonder what you guys are learning over there...?

we have been given excellent advice, not sure where this came from(not paying taxes)

[kjwayne]

Until the IRS is terminated or changed into some other government enity, I will TRY to pay my fair share of taxes. I will also use the IRS LAWS to consult a TAX Attorney, to help me with MY situation as it now stands. OK, now, I joined the VIP club hoping WE would be able to hear from some TAX people as a group , and confine the topic to within the USA. I think that would help a lot of people. Just my opinion and you've got yours. Go RV! enuff said!

[sonny1]

Currency trading has a entirely different tax..Look up CFR U.S. Title 26, 7701(A))26) It is not short term Capital Gains.

Subject: A MUST READ! @ Taxes

You all may want to save this article when the Dinar "RI's"

PROOF your IQD Trade is NOT taxable

--------------------------------------------------------------------------------

There is a persistent insistence on this forum about the eventual exchange of IQD for large amounts of FRNs as being a taxable activity. Let's look at what the IRS and Congress have to say about it.

First, you must know that there is one thing and one thing only that is taxed under Subtitle A of the Internal Revenue Code, and that is any "gains, profits, or income" derived from ANY source in the course of public office in the "United States." Put another way -- the ONLY activity taxed under Subtitle A is "gains, profits or income" in the course of a "trade or business." There is NOTHING else under Subtitle A that is taxed. Sure, remuneration for labor or capital gain is taxed, but you have to remember to keep the language in its proper context. These things are taxed ONLY in the course of a "trade or business." NOTHING ELSE! Period! (Dissenters welcome -- provide proof)

26 USC 7701(a)(26) defines "trade or business" as follows:

Quote:

The term "trade or business" includes the performance of the functions of a public office.

"Includes?" Everyone knows what that means....or....maybe not.

26 USC 7701© defines the term "includes" as follows:

Quote:

The terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.

Geee! Is there anyone out there in dinar land that is wondering why Congress would create such a confusing and convoluted definition that must be followed exclusive to the standard canons of statutory construction? There is a standard treatment in law of the term "include," but we have here IRS legal terms of art .... "includes" and "including." Is anyone suspicious as to why? Come on!! Wake up!!!

So we see, the term "includes" is a term of enlargement. But that enlargement ONLY extends to other things within the meaning of "public office" so defined. In essence, the term "trade or business" ONLY includes the excise taxable ACTIVITY of public office in the "United States" and related "positions" and "employments." The measure of activity is in-turn taxed by the "gains, profits, and income" affiliated with THAT activity. Since anyone engaged in such "United States" activity is taxed on their $$$ earned in the course of that activity -- it is easily misunderstood that anyone earning $$$ must therefore also be subject to the tax. READ THAT LAST PART AGAIN, IT SHOULD ESCAPE NO ONE. Do you think your misunderstanding of this is an unfortunate "accident?" (The term "United States" in this instance refers to the Federal Government. But that is a topic for another thread.)

Now, let's examine exactly what the Internal Revenue Code says about information returns obtained at "source," as in "whatever source derived." I'll hi-lite the narrowly defined legal terms so you know what it is really saying.

26 USC 6041 states:

Quote:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e), 6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or 6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.

Most of this language is a holdover from the original Revenue Act of 1862, including the reporting threshold of $600, which for any of you who have a basic knowledge of tax history will immediately recognize.

Now this is the ONLY provision in Subtitle A which dictates when and why information returns, such as 1099s are to be issued. Are there any challengers to this out there in dinar land? Please provide the legal language if you disagree.

Now, this language is very clear as to what is reportable, and what is not. I keep reading posts from ill-informed, "patriotic" Americans on this forum who think it their duty to provide the IMF with a percentage of their God-given bounty (provided that IQD RV bounty occureth – don’t hold your breath). Since when? Do you all understand the provisions and limitations on Direct Taxes and capitations are still in force in our Constitution? Do you realize the Federal Income Tax is an Indirect Tax levied on "gains, profits, and incomes" derived from the EXCISE TAXABLE ACTIVITY of making money in association with the "United States" (government)? This would also include bringing the government into the mix by VOLUNTARILY submitting a W-4 [see 26 USC 3402(p)(3)] Do you realize that if you are not in a "public office" or other related "position" or "employment" with the "United States" that such a tax against your IQD would be an un-apportioned direct tax and capitation? Do you realize that they have camouflaged the legal terms associated with this excise taxable ACTIVITY to appear as broadly understood words that people understand as part of their every day lexicon? ALL of the items that are taxed under the Federal Income Tax, whether it be from labor, capital investment, rents, etc, etc ...... are ONLY taxed on the "officers" of the "United States," and of course those who SWEAR under penalty of perjury on their tax returns that they are.....regardless if they naively do so or not!

If, for example, the trade of stocks, or other financial instruments are taxable in a broad way such as many on this forum believe, then they would be taxable for all people. Remember, in an earlier post where I mentioned that Citizens of any of the 50 Union states are "foreign" and thus "alien" to the Federal Legal venue. If they also do not "reside" in Federal Territory, they are legally categorized as "nonresident." Thus, an American domiciled and living (there is a difference) in a Union state is a "nonresident alien." Let's look at what Publication 519, "Tax Guide for Aliens" says about such financial investments (pg 18):

Now this is only provided to show you that there ARE instances when these things are NOT taxable. For those of you who are ill-informed about these things, I provide you these insights as a means to "wake you up," and implore you to do your own due diligence.

I encourage healthy skepticism and debate. No mindless, sheep banter. Turn off the TV and think for yourselves. You have been lied to by the establishment, and your brainwashing is nearly complete. The truth will not contradict itself. I have provided you plain, black and white evidence with explanation. You are benefiting from years of qualified and expert legal background. But again, maybe I'm a hack who has no idea what I'm talking about. You can't believe anything from anyone, much less an internet forum. So think for yourselves. But I speak the truth. He who has eyes to see let him see. He who has ears to hear let him hear.

Quote:

When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.

Donald James (1931-2008)

Intelligent discussion please!

Gary Newman

The STRIPPER

www.thestripper.us

I WISH FOR ONE TIME PEOPLE WOULD LISTEN. LOL. UNLESS YOU HAD THE DINAR WHEN IT WAS WORTH$3.00 WHICH NO-ONE HAS, BECAUSE THEY DESTROYED THOSE NOTES, AND ITS A NEW COUNTRY. IT CANT BE AN RI. PLUS TRUST ME WHAT EVER YOU CALL IT WHEN IT HITS, UNCLE SAM WILL BE TAKING HIS CUT!!!

[KimberlyHanson]

I appreciate the research and the post, but taxes are one of the only two things you can count on, remember? If there currently isn't a tax law to cover this situation, then there soon will be...I bet all my Dinars on it.

[joe123]

Currency trading has a entirely different tax..Look up CFR U.S. Title 26, 7701(A))26) It is not short term Capital Gains.

Subject: A MUST READ! @ Taxes

You all may want to save this article when the Dinar "RI's"

PROOF your IQD Trade is NOT taxable

--------------------------------------------------------------------------------

There is a persistent insistence on this forum about the eventual exchange of IQD for large amounts of FRNs as being a taxable activity. Let's look at what the IRS and Congress have to say about it.

First, you must know that there is one thing and one thing only that is taxed under Subtitle A of the Internal Revenue Code, and that is any "gains, profits, or income" derived from ANY source in the course of public office in the "United States." Put another way -- the ONLY activity taxed under Subtitle A is "gains, profits or income" in the course of a "trade or business." There is NOTHING else under Subtitle A that is taxed. Sure, remuneration for labor or capital gain is taxed, but you have to remember to keep the language in its proper context. These things are taxed ONLY in the course of a "trade or business." NOTHING ELSE! Period! (Dissenters welcome -- provide proof)

26 USC 7701(a)(26) defines "trade or business" as follows:

Quote:

The term "trade or business" includes the performance of the functions of a public office.

"Includes?" Everyone knows what that means....or....maybe not.

26 USC 7701© defines the term "includes" as follows:

Quote:

The terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.

Geee! Is there anyone out there in dinar land that is wondering why Congress would create such a confusing and convoluted definition that must be followed exclusive to the standard canons of statutory construction? There is a standard treatment in law of the term "include," but we have here IRS legal terms of art .... "includes" and "including." Is anyone suspicious as to why? Come on!! Wake up!!!

So we see, the term "includes" is a term of enlargement. But that enlargement ONLY extends to other things within the meaning of "public office" so defined. In essence, the term "trade or business" ONLY includes the excise taxable ACTIVITY of public office in the "United States" and related "positions" and "employments." The measure of activity is in-turn taxed by the "gains, profits, and income" affiliated with THAT activity. Since anyone engaged in such "United States" activity is taxed on their $$$ earned in the course of that activity -- it is easily misunderstood that anyone earning $$$ must therefore also be subject to the tax. READ THAT LAST PART AGAIN, IT SHOULD ESCAPE NO ONE. Do you think your misunderstanding of this is an unfortunate "accident?" (The term "United States" in this instance refers to the Federal Government. But that is a topic for another thread.)

Now, let's examine exactly what the Internal Revenue Code says about information returns obtained at "source," as in "whatever source derived." I'll hi-lite the narrowly defined legal terms so you know what it is really saying.

26 USC 6041 states:

Quote:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e), 6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or 6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.

Most of this language is a holdover from the original Revenue Act of 1862, including the reporting threshold of $600, which for any of you who have a basic knowledge of tax history will immediately recognize.

Now this is the ONLY provision in Subtitle A which dictates when and why information returns, such as 1099s are to be issued. Are there any challengers to this out there in dinar land? Please provide the legal language if you disagree.

Now, this language is very clear as to what is reportable, and what is not. I keep reading posts from ill-informed, "patriotic" Americans on this forum who think it their duty to provide the IMF with a percentage of their God-given bounty (provided that IQD RV bounty occureth – don’t hold your breath). Since when? Do you all understand the provisions and limitations on Direct Taxes and capitations are still in force in our Constitution? Do you realize the Federal Income Tax is an Indirect Tax levied on "gains, profits, and incomes" derived from the EXCISE TAXABLE ACTIVITY of making money in association with the "United States" (government)? This would also include bringing the government into the mix by VOLUNTARILY submitting a W-4 [see 26 USC 3402(p)(3)] Do you realize that if you are not in a "public office" or other related "position" or "employment" with the "United States" that such a tax against your IQD would be an un-apportioned direct tax and capitation? Do you realize that they have camouflaged the legal terms associated with this excise taxable ACTIVITY to appear as broadly understood words that people understand as part of their every day lexicon? ALL of the items that are taxed under the Federal Income Tax, whether it be from labor, capital investment, rents, etc, etc ...... are ONLY taxed on the "officers" of the "United States," and of course those who SWEAR under penalty of perjury on their tax returns that they are.....regardless if they naively do so or not!

If, for example, the trade of stocks, or other financial instruments are taxable in a broad way such as many on this forum believe, then they would be taxable for all people. Remember, in an earlier post where I mentioned that Citizens of any of the 50 Union states are "foreign" and thus "alien" to the Federal Legal venue. If they also do not "reside" in Federal Territory, they are legally categorized as "nonresident." Thus, an American domiciled and living (there is a difference) in a Union state is a "nonresident alien." Let's look at what Publication 519, "Tax Guide for Aliens" says about such financial investments (pg 18):

Now this is only provided to show you that there ARE instances when these things are NOT taxable. For those of you who are ill-informed about these things, I provide you these insights as a means to "wake you up," and implore you to do your own due diligence.

I encourage healthy skepticism and debate. No mindless, sheep banter. Turn off the TV and think for yourselves. You have been lied to by the establishment, and your brainwashing is nearly complete. The truth will not contradict itself. I have provided you plain, black and white evidence with explanation. You are benefiting from years of qualified and expert legal background. But again, maybe I'm a hack who has no idea what I'm talking about. You can't believe anything from anyone, much less an internet forum. So think for yourselves. But I speak the truth. He who has eyes to see let him see. He who has ears to hear let him hear.

Quote:

When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.

Donald James (1931-2008)

Intelligent discussion please!

Gary Newman

The STRIPPER

www.thestripper.us

iwanted to take the time to reply to this post because there are some facts that you are leaving out that could prove severe to the people who read this and impliment what you are suggesting.

First, if a person has a SSN# you are a citizen of the "United States of America" and therefore not a foreigner which is subject to the federal law.

What you a suggecting is that a Citizen of the "united States of America" is a foreigner and you are right the laws are different for them.

Second, the person who wants to prove the second sentence will probably spend at least a million dollars and probably more attempting to prove it and most likely loose. In which case, you will probably owe back taxes and on top of that penalties. Remember, the US can out-spend anyone here on this web site. Meanwhile, it will exert enormous pressure on the individual and their family. Depending how far you go in the fight, you may divide your family (if you have one), and possibly loose them as well.

This is something that i do have experience in. Do not persue this course! It is a loosing battle. I know!

[gman51]

Hey Adam, when all else is said and done, reality is where we all live and your wife's living in the same reality that I am living in. So to your post:..... I have been in jail (because of youthful indescretions) and do not want to return for any reason. No amount of money is worth losing your freedom over. Amen? I have worked to hard to gain my reputation back to just throw it away over taxes. God bless you brother!!!

[Janet Kindel]

Personally, I think it depends on how many congressment and high government officials own dinar and how much they own, just how much will be taxed.