How to escape from windfall or investment tax?

[Muhammad]

I am not encouraging anyone to escape from windfall or investment tax but I am suggesting for those who really cannot afford to pay such tax further because to some it might not be a big amount of windfall or investment profit. The government could be going after the dinar holders who may receive a hefty sum of windfall profit like above USD1,000,000 perhaps. But there are ways to split it among your trusted ones to do it on your behalf. One common option is to rent a safe deposit box from your most trusted international bank not owned by your country. Get your revalued IQD exchange for USD in hard cash in the suggested bank and go directly to your rented safe deposit box, preferably, in the same bank because you won't want to carry your hard cash out of the bank and be robbed. I need you to check it out in the three links for more reliable information before you do so:

www.foreignborn.com/self-help/banking/10-sd_boxes.htm

www.moneycentral.msn.com/content/Banking/.../P41893.asp

www.financial-ombudsman.org.uk/publications/.../30-box.htm

If you don't say and I don't say, who knows? Why must we go around telling the tax dept we have this much and that much? When we get the revalued IQD exchanged for USD at the teller's counter, they would only charge us a small commission and why must they bother to order us to pay up our windfall or investment tax? It is done by tax dept and obviously, not by bank dept. Just get the hard cash right away without talking too much rubbish with the teller and safely deposit them all into the rented safe box in the same bank and shut your big fat mouth for good. And if you need to use 10% of your windfall or investment profit to clear your debts first, just do it - Nike says! Be cool and normal as you step out of the bank and don't walk like you own the whole bank in order to invite robbery at that time! Why? Robbers are alert about an RV success during such time. Dress poor to show you are nothing to the waiting robbers. Many fools may be robbed on that day for sure and many fools may turn bankrupts as soon as they receive their windfall or investment profits. That is why I may keep posting in my thread to remind those fools and I hope Adam should approve it for the safety of everyone. I do care for all American dinar holders regardless of whoever they may be.

This is not cheating the government: we won't want the big cheater to eat us all up and more importantly as a reminder to all dinar holders, such windfall or investment profits are not stolen money - it is from our own blood and sweat and perseverance that we have finally earned. We must protect our own interests first! Where is our government when we are now suffering from financial hardship and unemployment?

Do you all agree with me?

[kullen1]

Banks will automaticly file a form for cash withdrawls over 10,000.00 This is automatically filed with the IRS!

The IRS will know about it!!

[kullen1]

It was part of the patriot act!

[mountanman]

Banks will automaticly file a form for cash withdrawls over 10,000.00 This is automatically filed with the IRS!

The IRS will know about it!!

This will be done for sure, anything not reported over $10K is called money laundering, Ill pay the tax & move on!!

[ajax]

You may want to consider 'portioning out' your cash out by setting up (1) some sort of "TRUST" to a charity of your choice, with you getting payouts each month, (2) a onetime lump sum payment LIFE INSURANCE ESTATE MAXIMIZER POLICY (1-3 Mil- can earn up to 33-45% interest), a ROTH-IRA or some kind of tax deferred option on the portion you may want to save until your past 59 1/2 years of age to withdraw,.....ALL OF WHICH SHELTER/HIDE TAXABLE INCOME TO AVOID PAYING TAX ON ANY OF THESE AMOUNTS.... With the remaining portion (pay off ALL debt), leave whatever amount(s) you may need for the upcoming taxable year and put the rest in several CD's across many banks (100-250K per bank account (that way FDIC insures these) and you earn over a 6 mo-1 yr period- an additional 6-11%).... Just a thought!

[Muhammad]

Banks will automaticly file a form for cash withdrawls over 10,000.00 This is automatically filed with the IRS!

The IRS will know about it!!

How about all licensed money-changers in your town?

[Muhammad]

Banks will automaticly file a form for cash withdrawls over 10,000.00 This is automatically filed with the IRS!

The IRS will know about it!!

How about exchanging revalued IQD with other bank investments to earn yearly dividend or whatever and be taxed lesser? Of course the conversion of IQD must be done with USD in the bank right away and goes directly into the bank investments.

[tlar]

The fincin 104 form you will be required to fill out that the bank is required to send to the IRS will insure the govenment knows exactly how much you exchange unless you plan to exchange less than $200.00 worth at a time at different banks on different days. Very impracticle Muhammad.

[Muhammad]

The fincin 104 form you will be required to fill out that the bank is required to send to the IRS will insure the govenment knows exactly how much you exchange unless you plan to exchange less than $200.00 worth at a time at different banks on different days. Very impracticle Muhammad.

I didn't know such tax system sucks to us but wows to them!

[Earnest T Bass]

Muhammad don't think for 1 second that the IRS isn't watching these sites. They WILL come after those that post things like this. They just got through hiring new agents for just such a task. So those that thanked you should remove their thanks too. Just FYI.

I am not encouraging anyone to escape from windfall or investment tax but I am suggesting for those who really cannot afford to pay such tax further because to some it might not be a big amount of windfall or investment profit. The government could be going after the dinar holders who may receive a hefty sum of windfall profit like above USD1,000,000 perhaps. But there are ways to split it among your trusted ones to do it on your behalf. One common option is to rent a safe deposit box from your most trusted international bank not owned by your country. Get your revalued IQD exchange for USD in hard cash in the suggested bank and go directly to your rented safe deposit box, preferably, in the same bank because you won't want to carry your hard cash out of the bank and be robbed. I need you to check it out in the three links for more reliable information before you do so:

www.foreignborn.com/self-help/banking/10-sd_boxes.htm

www.moneycentral.msn.com/content/Banking/.../P41893.asp

www.financial-ombudsman.org.uk/publications/.../30-box.htm

If you don't say and I don't say, who knows? Why must we go around telling the tax dept we have this much and that much? When we get the revalued IQD exchanged for USD at the teller's counter, they would only charge us a small commission and why must they bother to order us to pay up our windfall or investment tax? It is done by tax dept and obviously, not by bank dept. Just get the hard cash right away without talking too much rubbish with the teller and safely deposit them all into the rented safe box in the same bank and shut your big fat mouth for good. And if you need to use 10% of your windfall or investment profit to clear your debts first, just do it - Nike says! Be cool and normal as you step out of the bank and don't walk like you own the whole bank in order to invite robbery at that time! Why? Robbers are alert about an RV success during such time. Dress poor to show you are nothing to the waiting robbers. Many fools may be robbed on that day for sure and many fools may turn bankrupts as soon as they receive their windfall or investment profits. That is why I may keep posting in my thread to remind those fools and I hope Adam should approve it for the safety of everyone. I do care for all American dinar holders regardless of whoever they may be.

This is not cheating the government: we won't want the big cheater to eat us all up and more importantly as a reminder to all dinar holders, such windfall or investment profits are not stolen money - it is from our own blood and sweat and perseverance that we have finally earned. We must protect our own interests first! Where is our government when we are now suffering from financial hardship and unemployment?

Do you all agree with me?

[precious1970]

I have also heard they do this...

[Redfish]

When you go to cashout bring your Currency Transaction Report (Fincin Form 104). Also bring your Election To Opt Out Of IRC 988 form, this will help you save About 12% in taxes and keep you under the IRS radar screen.

[montanawkn]

This will be done for sure, anything not reported over $10K is called money laundering, Ill pay the tax & move on!!

Just my opinion: Mountanman:I agree>Pay the Tax & move on>O & IRS & the US Banking system set up a specialized Tax agreement weeks ago (NO-Link) & we all can be rest assured the US Banks will not let anyone walk out thinking the $ is in our account without O (US-Gov) having this Country's cut "Right Off The Top"..Period!!! This RV is what this is all about from the get-go..(Pay-Back)Taxes..Taxes..Taxes..Period!!!I'm American Indian & through Hard/Honest work have been apart of many building this Country for years by paying my share of Taxes thats required to help pay for all that has been accomplished.Don't need someone from 3RD World that was not born here trying to tell us Americans how to rip of the system.The System is what it is & has been for many past years.I don't agree with all of it but it has provided our Country with many luxuries that other Country's don't have.We-Parents-Grandparent-Great etc.. built our Country & outside visitors are tearing it apart piece by piece-day by day..(Rich are laughing all the way to Bank)The system>>Rich is getting richer/Poor getting poorer/Middle Class being rubbed out..No turning back..Sad part is what do we as adults (Parents-Grandparents) tell our children of tomorrow when they ask the questions..Be smart with smart investments...Pay your share of taxes & move on..

God Bless all the Soldiers World-Wide & their familys for their sacrifice & commitment.

Just venting..Have a great weekend..God Bless.

[constance_ranaldson]

Very well said thank you for your imput

[Lots2Learn]

Right on montanawkn! We might need the use of those tax dollars someday.....

[SexyDinar]

I have another alternative, How about leave money in Iraq and relocate to a low tax jurisdiction for a couple years like Gibralter. Then you can go back to US and leave you your wealth offshore but you would still be able to access it.

Just a thought!!

This is not advice just throwing something in to the pot as an idea.

[larsonv]

I believe the $250,000 amount insured by the FDIC expired in 2009 and was not resigned by Obama so, it is back to $100,000 FDIC insured per account. Below is what I found post on the net. If someone has an update please share because if there is a country besies Greece that is going bankrupt, the US is probably in the race. lol

Deposit Guarantee The Deposit Guarantee provides protection to non-interest bearing deposit

transaction accounts held at FDIC-insured institutions and is intended to protect paymentprocessing

accounts, payroll accounts and working capital accounts of small and medium-sized

businesses. Any FDIC-insured institution will now be able to provide deposit insurance coverage

for 100% of the funds in such accounts regardless of the U.S. dollar amount. It should be noted

that the Deposit Guarantee applies only to transaction accounts and that certificates of deposit,

savings and investment products are not covered by deposit insurance in excess of the current

$250,000 coverage. According to the FDIC, approximately 75% of domestic deposits will now be

covered by FDIC guarantees. The Deposit Guarantee will expire on December 31, 2009, the

same date that the $250,000 coverage limit on FDIC deposit insurance established by the

Emergency Economic Stabilization Act of 2008 is scheduled to expire.

[Butifldrm]

I am excited to see what Adam has put together for investment portfolios. I was origionally looking into tax deferred municipal bonds which can pay up to 5% interest tax deferred, but a no risk 8% return also sounds great. Here is some info on tax municipal bonds.

http://www.irs.gov/taxexemptbond/index.html

http://personal.fidelity.com/product...axexempt.shtml

Lori

[excursion]

This will be done for sure, anything not reported over $10K is called money laundering, Ill pay the tax & move on!!

It could also be called structuring. You live in a country and do not like the tax. OK vote and do what is legal to change it. Between now and then comply with paying the legal minimum tax or get out of the country. There are many benefits to living here and some of the taxes go to pay for them.

[excursion]

Just my opinion: Mountanman:I agree>Pay the Tax & move on>O & IRS & the US Banking system set up a specialized Tax agreement weeks ago (NO-Link) & we all can be rest assured the US Banks will not let anyone walk out thinking the $ is in our account without O (US-Gov) having this Country's cut "Right Off The Top"..Period!!! This RV is what this is all about from the get-go..(Pay-Back)Taxes..Taxes..Taxes..Period!!!I'm American Indian & through Hard/Honest work have been apart of many building this Country for years by paying my share of Taxes thats required to help pay for all that has been accomplished.Don't need someone from 3RD World that was not born here trying to tell us Americans how to rip of the system.The System is what it is & has been for many past years.I don't agree with all of it but it has provided our Country with many luxuries that other Country's don't have.We-Parents-Grandparent-Great etc.. built our Country & outside visitors are tearing it apart piece by piece-day by day..(Rich are laughing all the way to Bank)The system>>Rich is getting richer/Poor getting poorer/Middle Class being rubbed out..No turning back..Sad part is what do we as adults (Parents-Grandparents) tell our children of tomorrow when they ask the questions..Be smart with smart investments...Pay your share of taxes & move on..

God Bless all the Soldiers World-Wide & their familys for their sacrifice & commitment.

Just venting..Have a great weekend..God Bless.

Agree with most of the post but, have never heard of a system where you must pay a withholding tax when exchanging currency. The usual method of paying the tax on this type of transaction is through quarterly tax deposits and a final payment when filing your tax return. The tax deposit you have to pay depends on many factors and everyone should seek expert tax counsel.

[bigfoot]

when you cash the iqd in you have to fill out a 104 form. It will tell the IRS what you got for the exvhange. Bad thought son.

[srb]

Hi Guys

I talked to an accountant this is capital gains tax not 30-40 per cent but look even if you put in a bank and they pay you 3% on a million dollars

thats 30,000 a year and then you are subject to 30-35 per cent tax but who cares think about working for a job making 30,000 a year and having to get up early in the morning abnd slaving for a boss who abuses you. We are so close and i have a reliable source who said we are close i cannot say

when or how much a except it is all over andwe will get paid very soon. So Get ready and thank your blesssings for this money, as it is comming

Rememeber RVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV

[babygirl08]

It could also be called structuring. You live in a country and do not like the tax. OK vote and do what is legal to change it. Between now and then comply with paying the legal minimum tax or get out of the country. There are many benefits to living here and some of the taxes go to pay for them.

AMEN ! ! ! Nothing more needs to be said !!!!! AMEN !!!!

[carlablum]

AMEN!!!!!!!! Sory just had to say this also!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[TIM]

Wonder were hes from! This is the usa, remeber,no where to hide from uncle sam!