And if you don't report it that is tax evasion....the IRS does not like that....ask Capone.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

Reminds me of an experiment one of the well-known comsuner's digest type magazines performed some years back. They created a fictional family, Mr. and Mrs. John and Jane Doe and their two children. John earns $35K per year. Jane is a stay at home mother. They own one house and one car.

The magazine provided this information to ten different CPAs and asked them to prepare a tax return for Mr. and Mrs. John Doe.

The magazine received back from the ten CPAs tax returns showing ten different dollar amounts owed or funds to be refunded to Mr. and Mrs. John Doe.

Imagine that.

A tale of income that was not really income.....

During the 80's, I think, a friend of mine was buying a house. Nothing unusual about that.

He had bought it in the middle 60's and had an interest rate of something like 2.5%.

So the bank calls him and gives him the line that he has already paid so much in interest and what a swell guy he is and oh, yeah, would he like to pay off his loan for about 10% of what was owed?

Mortgage rates at this time were about 14% and the bank was trying to clear all the old low interest loans off their books. It had something to do with their ability to make more high interest loans if his loan was off the books.

So he took the deal. Then later he got a notice from the IRS about how the debt he was 'forgiven' was considered taxable income.

I think it amounted to about $1,000. He considered what he had just saved, said why not, and just paid it.

But it did come as a shock. You would have thought the bank would have mentioned this when they offered the deal.

If you CASH a check in excess of $10K and under the so-called "USA Patriot Act" (I am still trying to figure out what is patriotic about it), your bank will issue a CTR AKA Cash Transaction Report to the IRS.

The IRS wants to know about every single dime that passes through your fingers both in this life and the next............they want their cut of YOUR pie.

Your land belongs to me, your wife belongs to me and oh, BTW, every last dollar you slave for belongs to ME. Get it???

One for you, nineteen for me, one for you, nineteen for me, one for you, nineteen for me, one for you, nineteen for me....It's a very fair deal....for the IRS!!!!

https://www.youtube.com/watch?v=hb-RPGhpBSI

Some years back, a well known local strip club was known to be frequented by IRS agents. They liked to come in when the club opened and drink nine dollar beers while making sure the girls were "paying their fair share". They were known to stay in the club eight to ten hours at a stretch.....

Your tax dollars at work....helping tax agents get their rocks off.....

Good grief. Give it a rest already.

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Sent from an agnostic abacus

2014 C250 21,XXX my new DD ** 2013 GLK 350 18,000 Wife's new DD**

- With out god, life is everything.
- God is an ever receding pocket of scientific ignorance that's getting smaller and smaller as time moves on..." Neil DeGrasse Tyson
- You can pray for me, I'll think for you.
- When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.

The bank did mention it. That is how the IRS found out about it.

I have worked for two banks. IMHO, they view their customers as the enemy. They keep dossiers/files on each and every bank customer and won't hesitate to turn them over to the authorities. They enjoy ratting out customers by turning in "suspicious" activity reports, etc etc. If you are breathing, you are deemed "suspicious".

If you move money from one account to another, make a deposit or withdrawal, they just might consider your actions criminal in nature.

Dancing with a bank is like playing with a porcupine; it is only a matter of time before you get STUCK.

I can't, I've decided to apply for a job as a Pussy Grabbing IRS Tax Man. I figure the IRS is looking for a few good agents who are willing to work strip clubs undercover.....all on your dime, of course!!!

It's a dirty, nasty job but someone has to make sure those sleezy strippers are paying their fair share!!!!