15% TAXES!!!! Off the top!!!

[Star Ship]

I am reading over and over and yet am still waiting to see a LINK posted about this 15% taxes off the top and and another 1.5% for OBAMA CARE - where does this info come from???? Please post a credible LINK that gives the info where the US Congress passed a law about the IQD, and when it took effect. Only the Congress of the US can pass tax laws, not the UST or the IRS. They can only enforce laws that are in effect.

[Hfeliu]

Not everything is in Black and White, so don't expect to see any laws passed for the IQD or any links regarding the 15% tax, just treat it as everything else "Rumor" until the day comes and your at that bank window cashing in, then on that day you'll truly know what kind of tax you'll owe. Take it with a grain of salt.

[tissot]

I am reading over and over and yet am still waiting to see a LINK posted about this 15% taxes off the top and and another 1.5% for OBAMA CARE - where does this info come from???? Please post a credible LINK that gives the info where the US Congress passed a law about the IQD, and when it took effect. Only the Congress of the US can pass tax laws, not the UST or the IRS. They can only enforce laws that are in effect.

I've not seen anything on this either, I tend not to put too much credence in it as it singles out the President's health care plan. No one knows for sure yet so we'll have to wait.

[eaglerod]

I will contact the IRS in the morning and find out directly from the thieves themselves. I will post links and/or responses from them when I get it.

[THINK.....]

I am reading over and over and yet am still waiting to see a LINK posted about this 15% taxes off the top and and another 1.5% for OBAMA CARE - where does this info come from???? Please post a credible LINK that gives the info where the US Congress passed a law about the IQD, and when it took effect. Only the Congress of the US can pass tax laws, not the UST or the IRS. They can only enforce laws that are in effect.

Since when does the IRS have to obey the law? They don't exactly have a good record. The Gestapo, er I mean, the IRS has always done what they please violating even Supreme court rulings. Anyone who thinks otherwise better do their homework or be prepared for a rude awakening.

RV there yet? RV there yet?

Edited May 8, 2011 by Arvie

[TouchDownDance]

16.5% taxes - Federal Taxes

5% credit - Short Term Worrying about RV

10% credit - Long Term Worrying about RV (over a year)

25% credit - OKIE Clan Member (daily worrying...)

For the credits you have to prove you were stressed. Gurus are automatically considered Long Term... :lol:

[Star Ship]

The IRS only gets away with violating tax code if you allow them too. It pays to be familiar with tax code. The IRS gets pushy but when you push back they back down. I know from personal experience. I went through an audit of one of my businesses that dragged on for 22 months. In the end the IRS sent me a letter that simply said " Closing Case - Return accepted as filed." They basically harrassed me for 22 months and found NOTHING wrong or in error. We own two businesses and my husband and I also own a bit of stock and mutual funds, etc., etc. so we are familiar with capital gains taxes, taxes on interest, etc., etc. Our tax returns are complicated, so I know tax code that applies to me and my particular situations. The IRS can only get away with what one lets them get away with if you keep yourself educated and informed about tax code laws.

Sometime ago one of the DV's actually contacted an IRS Agent and was told by this Agent that the any profits from foreign currency exchange that exceeded $200 (two hundred dollars) would be taxed as Capital Gains. The person that posted this info also posted the 800 number for the IRS and the Agents name and employee number as well. I followed up and contacted the named agent myself and received the same info. The IRS is not going to have Agents posted in every bank and every cash in place in the US. That is a ridiculous claim. I had asked my question earlier about please providing a link as to the 15% off the top BS that is floating around cause if that was something new that had developed I want to know about it, but I want proof positive, not a bunch of "know-it-all know nothings" that just come up with pure conjecture that has no basis in fact. So, until it is proven to me otherwise, I am going with the info I got "from the horse's mouth" (the IRS Agent) that IQD profits will be taxed as capital gains. I am going to look up the IRS form and as soon as I find it I will post the info.

[THINK.....]

The IRS only gets away with violating tax code if you allow them too. It pays to be familiar with tax code. The IRS gets pushy but when you push back they back down. I know from personal experience. I went through an audit of one of my businesses that dragged on for 22 months. In the end the IRS sent me a letter that simply said " Closing Case - Return accepted as filed." They basically harrassed me for 22 months and found NOTHING wrong or in error. We own two businesses and my husband and I also own a bit of stock and mutual funds, etc., etc. so we are familiar with capital gains taxes, taxes on interest, etc., etc. Our tax returns are complicated, so I know tax code that applies to me and my particular situations. The IRS can only get away with what one lets them get away with if you keep yourself educated and informed about tax code laws.

I wish all that were true. Consider yourself lucky. I have a very close friend who went all the way to a grand jury with the IRS and beat them. Doesn't matter because even though he won they still are taking his pay to the tune of 85%. The IRS tax code says they can only take 15% AND the US Supreme Court has ruled that the IRS MUST stick to the IRS rules that say 15%. That doesn't stop the IRS. They just do whatever they want. They would seem to answer to no one. I know of things they have done that would curl the hair on your toes but I won't go into all that. Just believe me when I tell you how lucky you were they closed the case.

RV there yet? RV there yet?

[Vinman33]

The IRS only gets away with violating tax code if you allow them too. It pays to be familiar with tax code. The IRS gets pushy but when you push back they back down. I know from personal experience. I went through an audit of one of my businesses that dragged on for 22 months. In the end the IRS sent me a letter that simply said " Closing Case - Return accepted as filed." They basically harrassed me for 22 months and found NOTHING wrong or in error. We own two businesses and my husband and I also own a bit of stock and mutual funds, etc., etc. so we are familiar with capital gains taxes, taxes on interest, etc., etc. Our tax returns are complicated, so I know tax code that applies to me and my particular situations. The IRS can only get away with what one lets them get away with if you keep yourself educated and informed about tax code laws.

Sometime ago one of the DV's actually contacted an IRS Agent and was told by this Agent that the any profits from foreign currency exchange that exceeded $200 (two hundred dollars) would be taxed as Capital Gains. The person that posted this info also posted the 800 number for the IRS and the Agents name and employee number as well. I followed up and contacted the named agent myself and received the same info. The IRS is not going to have Agents posted in every bank and every cash in place in the US. That is a ridiculous claim. I had asked my question earlier about please providing a link as to the 15% off the top BS that is floating around cause if that was something new that had developed I want to know about it, but I want proof positive, not a bunch of "know-it-all know nothings" that just come up with pure conjecture that has no basis in fact. So, until it is proven to me otherwise, I am going with the info I got "from the horse's mouth" (the IRS Agent) that IQD profits will be taxed as capital gains. I am going to look up the IRS form and as soon as I find it I will post the info.

Supreme Court Justice, the Honorable Learned Hand once wrote, "There are two tax systems in this country; one for the informed, and one for the uninformed."

[Star Ship]

Supreme Court Justice, the Honorable Learned Hand once wrote, "There are two tax systems in this country; one for the informed, and one for the uninformed."

Amen to that.

[Lilalbertus]

don't forget state tax

[Star Ship]

I wish all that were true. Consider yourself lucky. I have a very close friend who went all the way to a grand jury with the IRS and beat them. Doesn't matter because even though he won they still are taking his pay to the tune of 85%. The IRS tax code says they can only take 15% AND the US Supreme Court has ruled that the IRS MUST stick to the IRS rules that say 15%. That doesn't stop the IRS. They just do whatever they want. They would seem to answer to no one. I know of things they have done that would curl the hair on your toes but I won't go into all that. Just believe me when I tell you how lucky you were they closed the case.

RV there yet? RV there yet?

Sorry to hear about your friend - but seems there is some kind of missing info and a "Grand Jury" for a tax hearing - seems strange, but who am I to say. Perhaps your friend needs to get a reputable tax attorney.

[THINK.....]

Sorry to hear about your friend - but seems there is some kind of missing info and a "Grand Jury" for a tax hearing - seems strange, but who am I to say. Perhaps your friend needs to get a reputable tax attorney.

The person with the most knowledge who could help him is being held in a federal prison by the IRS because he won't lie for the IRS so they can convict someone on their hit list for helping countless people get out of trouble with the IRS for many years. I've studied tax law for some time and this guy knows more than IRS agents know about the tax code. Tax attorney? HAH! IRS even has one of their own behind bars for going public about what they do behind closed doors. The problems with the IRS go far too deep to sort out here. Believe me, I know of what I speak. I'd get writers cramp just to get started.

RV there yet? RV there yet?

[Carrello]

I will contact the IRS in the morning and find out directly from the thieves themselves. I will post links and/or responses from them when I get it.

The IRS is only collecting taxes that have been voted into law by our - your - elected representatives. We need to pay attention to who we vote for, what their track record is, and their philosophies. Don't blame the IRS. The tax code needs to be revamped.

If you don't like the way the tax codes play out, like major corporations not paying any taxes, contact your representatives and gives your views. Believe me, electeds listen to constituents. You want a tax revolution, pick up the phone.

[Lutie]

The IRS is only collecting taxes that have been voted into law by our - your - elected representatives. We need to pay attention to who we vote for, what their track record is, and their philosophies. Don't blame the IRS. The tax code needs to be revamped.

If you don't like the way the tax codes play out, like major corporations not paying any taxes, contact your representatives and gives your views. Believe me, electeds listen to constituents. You want a tax revolution, pick up the phone.

Well said! I give you a 10.

[Dalite]

I will contact the IRS in the morning and find out directly from the thieves themselves. I will post links and/or responses from them when I get it.

Let us know how that works out for you.

Try for 3 out of 5 identical answers before you call it quits.

Also, better pack a lunch.

I have to explain the tax code as it applies to my situation every time I get audited .

Each audit is open from 6 months to 36 months before they send me the letter of agreement and close the case.

They usually send a few notices of intent to levy my bank account and property.

I also receive quarterly statements of penalties and interest and a few "Come to Jesus" letters.

Each audit kills a bunch of trees, improves the USPS financial standing and really tortures a bunch of electrons.

The IRS tries again the next year. The electrons aren't impressed.

[Hat-2-Pan]

I am reading over and over and yet am still waiting to see a LINK posted about this 15% taxes off the top and and another 1.5% for OBAMA CARE - where does this info come from???? Please post a credible LINK that gives the info where the US Congress passed a law about the IQD, and when it took effect. Only the Congress of the US can pass tax laws, not the UST or the IRS. They can only enforce laws that are in effect.

Ahhhh StarShip, like were your coming from but would like to point out that we no longer have a legitimate government. Washington has been infiltrated with criminals and gangster politics. Did that FRAUD PUPPET Obama consult the congress before invading yet another country, NO he calibrated with that criminal element called the UN. So the likelyhood of these criminals pulling some new unconstitutional rabbit out of the hat is VERY HIGH! just sayin Amigo

O yea link, try...... completely illegitimate unconstitutional treasonist gov. com hahahahah!

[txwWrestling]

Its funny this is brought up. I contacted the IRS and asked them about it. I was transferred 3 times, FINALLY to what was suppose to be the office of foreign currency in St. Louis I spoke with an agent and asked him what the tax rate was for gains on foreign currency. He was reading a statement on a screen. I asked him several times and he kept on reading the mumbo jumbo from the screen word by word, NO HELP AT ALL. Thanks IRS...I hope its just because they just don't know yet.

[Vinman33]

The IRS is only collecting taxes that have been voted into law by our - your - elected representatives. We need to pay attention to who we vote for, what their track record is, and their philosophies. Don't blame the IRS. The tax code needs to be revamped.

If you don't like the way the tax codes play out, like major corporations not paying any taxes, contact your representatives and gives your views. Believe me, electeds listen to constituents. You want a tax revolution, pick up the phone.

The forum system only allows me to give you a +1 -- I woulda given you 10.

Ahhhh StarShip, like were your coming from but would like to point out that we no longer have a legitimate government. Washington has been infiltrated with criminals and gangster politics. Did that FRAUD PUPPET Obama consult the congress before invading yet another country, NO he calibrated with that criminal element called the UN. So the likelyhood of these criminals pulling some new unconstitutional rabbit out of the hat is VERY HIGH! just sayin Amigo

O yea link, try...... completely illegitimate unconstitutional treasonist gov. com hahahahah!

Geez... It's like I'm watching Mary Lou Retton at the Olympics! Another 10!!!

[Mrose001]

Why don't you just google Capitol Gains Tax, and read about it? It will also explain time held, vs rate taken "off the top" and how your age relates to the percentage amount.

[powerpager]

Just give me $20.00 !!!

[Gibbs427]

Not sure where this 15% flat tax rumor started but, it does make sense if the USt wants the revenue right away.

They know that a lot of investors are planning on tying up their money in trusts and such that would delay the IRS from getting the revenue for who knows how long.

I believe that most dinar investors would rather just go ahead and pay 15% rather than go to all the trouble of setting things up to defer the taxes due for years.

JMHO but, it really makes sense.

[The Machine]

WOW reading some of these posts you guys in the US really get shafted ..... All I gotta worry about is a 1% commission from the bank to change my IQD to Pounds Sterling ( which I think they may wave if I keep all my money with them) may even go to a private broker who charge even less and then of course I gotta pay tax on any interest I earn after that which goes without saying but there are ways around that too lol ........ If ive learnt anything in the last 2 years, its banking ..... oh and not to believe a word Okie says!!

Go RV

Edited May 9, 2011 by The Machine

[dinarfarian]

Exempt assets - when you don't pay Capital Gains Tax

Some assets aren't liable to Capital Gains Tax at all because they’re exempt. These include:

•your car

•personal possessions worth up to £6,000 each, such as jewellery, paintings or antiques

•stocks and shares you hold in tax-free investment savings accounts, such as ISAs and PEPs

•UK government or ‘gilt-edged’ securities eg National Savings Certificates, Premium Bonds and loan stock issued by the Treasury

•betting, lottery or pools winnings

•personal injury compensation

•any foreign currency held for your own or your family’s personal use outside the UK (eg if you've made a gain because of a change to the exchange rate)

not bad for the uk?

[MovieMaker]

Thanks for sharing