Ninety miles from the South Eastern tip of the United States, Liberty has no stead. In order for Liberty to exist and thrive, Tyranny must be identified, recognized, confronted and extinguished.
Tuesday, October 26, 2021
If All Of Us Did This, The Leftist Totalitarians At The IRS Would be Overwhelmed....
Just Do $900.00 Every Month To Get To 10K In A Year....
Unfortunately, it is also illegal to structure transactions in so as to avoid financial reporting requirements. Oh, you can claim $900/month isn't done for avoidance purposes, but you'll have to pay your lawyer many times that amount while the Feds prosecute you, anyway.
Those bastards can always find something to pin on you; and even if you "win," the process is punishment, too.
First, what is proposed in the meme is NOT "structuring a transaction to avoid reporting requirements" but is actually attempting to overwhelm the IRS with reports.
Second, it isn't just $600 threshold transactions that were going to be reported, but ALL accounts with at least a $600 worth of transactions cumulatively throughout the year. This amount is so small as to trigger monitoring of almost ALL accounts. Ten $60 transactions in the year will do the trick. That could be 5 $60 deposits and 5 $60 withdrawals. Since it is a cumulative measure, it is impossible to "structure the transactions" to avoid reporting.
First, it doesn't matter that YOU say transactions aren't structured. YOUR opinion is irrelevant. All that matters is what the government says. Sure, maybe you can beat the rap - but after months of being prosecuted, your reputation ruined, and thousands in legal fees, it won't feel like you won. The process is part of the punishment.
By the way, interfering with or hampering government functions is a felony. So, play your little "resistance" game over $600 if you want - just pray the government doesn't pick you to make an example.
Second, I was referring to the $900/month blurb after the meme, which is about the current reporting requirement for transactions over $10,000. Obviously, structuring transactions to avoid that is quite easy, which is one of the reasons for the rule against it.
Unfortunately, it is also illegal to structure transactions in so as to avoid financial reporting requirements. Oh, you can claim $900/month isn't done for avoidance purposes, but you'll have to pay your lawyer many times that amount while the Feds prosecute you, anyway.
ReplyDeleteThose bastards can always find something to pin on you; and even if you "win," the process is punishment, too.
First, what is proposed in the meme is NOT "structuring a transaction to avoid reporting requirements" but is actually attempting to overwhelm the IRS with reports.
ReplyDeleteSecond, it isn't just $600 threshold transactions that were going to be reported, but ALL accounts with at least a $600 worth of transactions cumulatively throughout the year. This amount is so small as to trigger monitoring of almost ALL accounts. Ten $60 transactions in the year will do the trick. That could be 5 $60 deposits and 5 $60 withdrawals. Since it is a cumulative measure, it is impossible to "structure the transactions" to avoid reporting.
First, it doesn't matter that YOU say transactions aren't structured. YOUR opinion is irrelevant. All that matters is what the government says. Sure, maybe you can beat the rap - but after months of being prosecuted, your reputation ruined, and thousands in legal fees, it won't feel like you won. The process is part of the punishment.
DeleteBy the way, interfering with or hampering government functions is a felony. So, play your little "resistance" game over $600 if you want - just pray the government doesn't pick you to make an example.
Second, I was referring to the $900/month blurb after the meme, which is about the current reporting requirement for transactions over $10,000. Obviously, structuring transactions to avoid that is quite easy, which is one of the reasons for the rule against it.