We had to deal with the IRS around 10 years ago.Thank you for telling me this, since I think you are warning me, I appreciate it. I really do.
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. Originally Posted by Jackie S
My situation is a little bit different.
1. In the first place, COG ASSUMED that I have a lot to hide.
In fact, I don't. I don't have secret accounts because I simply don't need them.
2. I do have an overseas broker but that's only because the "Dodd-Frank Act" is trying to limit my work in a completely ridiculous way, but regarding IRS rules there is nothing wrong as long as I open the books when they want me to. The "Dodd-Frank" rule that I constantly break is that in the USA you can't trade gold on leverage/on paper anymore. (They say to protect the customer, but that is bull-shit). And it is too lucrative to just let go of that.
3. I have a pretty good name with the IRS, I am an EA (Enrolled Agent), fully licensed by the IRS themselves to prepare Tax Returns in and outside the entire USA for people and businesses, and to "practice before the IRS" which is representing anyone who wants me to do so and to take care of their business with the IRS
Sorry I'll finish this later, I just got a call and I have to go and help someone.
Damned in the middle of the night it's 6 am here.
