IRS Bites

You are nothing but a money trader. You are right there with the oil speculators, futures speculators, and all others who are respossible for many of the problems that our Country faces.

Like I said, you produce nothing. You Contribute nothing. You are part of the problem, not part of the solution.

You are nothing but a money trader. You are right there with the oil speculators, futures speculators, and all others who are respossible for many of the problems that our Country faces.

Like I said, you produce nothing. You Contribute nothing. You are part of the problem, not part of the solution. Originally Posted by Jackie S

I bet you don't export anything that you produce? Or you'd rather pay 7% of your currency exchange to the bank?
Obviously you have no clue about international trade.

I am definitely NOT a speculator. Speculation is gambling and I don't gamble.
My risks and profits are calculated before I enter any trade.
And you have no clue what you are talking about.

Oh and another thing, most of the money I make comes from Asian countries, and I spend it in the US, so that's another thing why it is actually very good for the country.

As a matter of fact, we are fullfilling a contract right now that will be headed to a South American Country. That is all I can say about that on a SHMB.

Granted, 95 percent of all of our production does stay right here in The USA. Any out of Country work usually is through an established customer here who has an operation in another Country.

Just a side note...it is not the IRS that determines the tax code. It's our elected officials, vacationing in a place called Washington DC

IRS merely collects...the other clowns determine the tax code

And they really do not enforce it. The Federal Marshals are the ones that knock on your door.

Just a side note...it is not the IRS that determines the tax code. It's our elected officials, vacationing in a place called Washington DC

IRS merely collects...the other clowns determine the tax code Originally Posted by vkmaster

Mostly true, but the IRS designs those pretty forms that even those elected officials cannot translate in something they understand without their accountants.

And they really do not enforce it. The Federal Marshals are the ones that knock on your door. Originally Posted by Jackie S

Well the Federal Marshals can knock on my door and see every statement online that my broker provides.
Only how are they going to find out if those are all the statements that I have?
And how do they find out if that is the only broker I have?
And what if I have a broker in Panama, with a bank account on Bermuda?
Or a broker in Macao, with bank accounts all over the world?

With this current bunch of elected officials...I think you would need something along the lines of a coloring book and crayons, for them to figure it out.

Regarding enforcement....IRS. geeky guy with the brains. Federal Marshal, not the geeky guy, but the ones with the muscles

IRS. geeky guy with the brains. Federal Marshal, not the geeky guy, but the ones with the muscles Originally Posted by vkmaster

And easy to fool, both if them

Well the Federal Marshals can knock on my door and see every statement online that my broker provides.
Only how are they going to find out if those are all the statements that I have?
And how do they find out if that is the only broker I have?
And what if I have a broker in Panama, with a bank account on Bermuda?
Or a broker in Macao, with bank accounts all over the world? Originally Posted by waverunner234

Well, now you've admitted to tax fraud, so please don't continue to tell us how the government should be run.

Well, now you've admitted to tax fraud, so please don't continue to tell us how the government should be run. Originally Posted by CuteOldGuy

Read it again, I don't think that I anywhere admitted to tax fraud.
I'm not THAT stupid.

Did you notice the "what if's" and "how if's"?

Those statements would be enough to initiate an investigation. For your sake, I hope your money is well hidden. I've dealt with the IRS, they make the Taliban look like Sunday School teachers.

Those statements would be enough to initiate an investigation. For your sake, I hope your money is well hidden. I've dealt with the IRS, they make the Taliban look like Sunday School teachers. Originally Posted by CuteOldGuy

It's only 20 miles to the border

We had to deal with the IRS around 10 years ago.
One of the things you realize when dealing with them is everything is opposite from the regular Justice System. In that, the law states that you are innocent untill proven guilty.

When dealing with the IRS, you are, (in their eyes), guilty untill you can prove yourself innocent. They can seize property, put holds on bank accounts. And they are relentless. They will literally camp out, seemingly disrupting your business as they please. After nearly 5 weeks, our Tax Attorney finally had to tell them either find something, or get out. They got out.

We have not been bothered since. But I will admitt that the entire episode left a sour taste that has instilled a mistrust for the way the Government can treat you, simply because they have the power.

One item of note, in the operation of our Business, we have always taken great pains to make sure everything was on the up and up. If the IRS can come in and cause someone like us that much grief, think what they can do to someone, or a business, that is a little shady in their operations.

Years ago, I had a friend, (he is deceased), who was in a familly business, a large Truck Salvage Yard. (Junk Yard). Quite a bit of their business was cash, someone came in, wanted something, they found it, and cash changed hands.

This bunch lived pretty high, as in those times, the used truck part business was pretty lucrative. However, they claimed only about a 4th 0f what they actually made on their yearly taxes.

When the IRS came, all they asked was, how do you do it. You have houses that cost this much, luxury cars that cost this much, expensive jewlery, expensive everything. But, you say you only make this much.

The IRS had been watching for some time, and knew every penny they spent.

The Father, who was the priciple owner, went to prison for two years, but the entire familly lost everything. Literally.

The reason my friend is deceased. He put a 38 to his head.

There was a book written years ago by a man named "Joey". It's a pseudonym (That means fake name, WTF) since he was a hit man for the Mob. The book was titled "Hit 29" in which he describes his life with the Mob. I saw an interview with him, and he said the only organization that scared him was the IRS. He said he meticulously kept track of his income and expenses, and would not lie on his tax return. The only thing that might be out of order on his tax return was his occupation, which he said was "salesman."