WHEN ARE IRS TAXES DUE?

[sweet pea]

CNN FINANCIAL NEWS TODAY - RE: when TAXES due on Revalued IQD

This morning I saw on CNN NEWS on a segment on FINANCIAL NEWS.....some information

you all might like to know.

They had 2 guest Financial Advisors on the program answering questions from the General Public. People were to email in their questions.

One person asked: If the Iraqi Dinar was to Revalue yet this year of 2011, if he could avoid paying taxes this year, by waiting to cash in...in 2012?

ANSWER GIVEN: If it Revalues in 2011 , then he has to pay the taxes on it for this year because it is income produced in this fiscal year. It doesn't matter when they cash in their Dinar....as soon as it earns value in this Fiscal Year....it is income for 2011.

[CCurtis]

That is very interesting. May need to do some research on this. Thanks for sharing!!!

[Abarvets]

Seriously, this was on CNN?

[OregonHopeful]

Well, for me personally, I'd like to get an opinion of a tax attorney, not a financial advisor.

If this was truly on CNN, this is intesting that they would talk about it though.

[reveldog]

there is noway for the IRS to know who has how much Dinar , so i would have to say

FALSE

[steveinfla]

there is noway for the IRS to know who has how much Dinar , so i would have to say

FALSE

Unless you bought your Dinar with cash in a back alley way I totally disagree with you. Dinar bought through a trader or any organization that does record keeping for tax purposes then yes the IRS will know. Or at the very least have enough of an idea.