Yes, You must have your stuff together. If you feel better, again just do what makes you feel best.:bow:
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I agree with you. I was including US to Drug Dealers and Terrorist Financing in money laundering. Currency Transaction Reoprting (CTR) was initially put in place to track drug money.
What I'm saying is that having a CTR filed on a tranaction of say $100,000 does not indicate that you have taxable income of $100,000. It only means that you were part of a high dollar transaction that might come under scrutiny since illegal activites often inlcude high dollar transaction. If your transaction is legal, no impact on you!
neno: deleted his original post because he misunderstood my prior post, but I'll leave tis here since many are confused about what CTR is intended to accomplish
The form I have in my possession is the FINCEN 104 which states Currency Transaction Report (formerly form 4789) which the bank fills out. I will personally call the IRS tomorrow to find out. I sure hope that your right but I see capital gains tax being applied.
I do not care either way! Cause I am moving to the Northpole! To help Santa Claus! They will never find me! In my snow cave!!!!!!!!!!!!!!!
:tongue: :drinkbudd :flame:
man.....can't Santa live on an island someplace warm?!?!?:biggrin: :cheers:
Hi Everyone,
I am definitely not saying to avoid tax but to make sure you owe tax. I called them once before but did not get through to the right department. But what the person did ask was did I buy the currency with taxed money and of course I did because all money we make at work is taxed. But I called today and after about 2 hours of being on hold to get to the right department I was told that it was not taxable unless you were using a broker and not holding the actual cash.
Always double and triple check you do not want to get in trouble. I understand that the IRS tax agent could be wrong but he could have been right also. I also thought it strange that there would be no tax but this is a once in a life time opportunity. Usually if you are trading currency you are doing it through a broker and not holding actual cash. Also I was think that most of the Republicans are probably holding a lot of Dinar so it maybe in there interest not to tax as this really has not happened before. But I am sure if it is not taxed they will change the law in case this happens again.
But please check for yourselves with the IRS and Tax Attorney. I am going to check again before I trade my money in.
I just wanted to pass on this information.:ro_emote:
Dinar-Excited:leader: