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Thread: Get Your Billions Back, America: 2014

  1. #21
    6 - INCOME questions answered

    Q: What if I sold my motorbike for $5000 cash last year. Where on the 1040 do I enter that?

    A: Are you a bankster minion or just under their conditioning/spell? Srsly, can cash be lawful money? Yes, it can be US notes in the form of FRNs. And since there's no federal report of it to be corrected/rebutted - there's no need to include it.

  2. #22
    Q: I took $15,000 out of my retirement plan last November and bought silver with it, mainly because I didn't feel it was safe there. I elected not to have federal tax withheld and I wrote "redeemed lawful money per 12 U.S.C. 411" on the back of the $15k Fidelity check before depositing. Do I owe tax on this? I'm 47 years old.
    Last edited by JohnnyCash; 02-08-15 at 03:08 AM.

  3. #23
    A: Congrats on having the wisdom & forethought to protect your wealth and move it out of the banksters' reach. Since you get favorable (tax-free) treatment when contributing to these statutory federal retirement plans (IRAs, 401ks, etc) it's quite possible you will owe a 10% early-distribution penalty since you're under age 59.5. These withdrawals are generally reported to you (& the IRS) on Form 1099-R and Box 7 will show a Distribution code. Simply follow the directions in TaxACT, entering the 1099-R amounts & codes to see what you will owe.

    However, there are about a dozen exceptions under which the penalty may be waived. For example, if you used the distribution funds to pay for disability, certain medical expenses, tax levies, first home purchases, and so forth then no 10% tax is due. Do an internet search to learn more and make sure the tax software is not taxing your early distribution if, in fact, you have an exception to the 10% penalty.

    Regardless of the 10% penalty, your early plan withdrawal will not increase your AGI (adjusted gross income) since you'll be including the $15,000 as a negative on Line 21 - Other Income as it was redeemed Lawful Money. Thanks for helping us Abolish the Fed.
    Last edited by JohnnyCash; 02-08-15 at 04:08 AM.

  4. #24
    Q: I sold stuff online last year and just received a 1099-K showing over $17,000 income from the card merchant. All those online receipts landed in my LM bank account where my signature agreement has the "all transactions demanded in Lawful Money pursuant to 12 USC 411" language on file. How to account for this $17k?

  5. #25
    A: Great! You are to report only Taxable Income and it depends entirely upon your right to be heard, and the law. Three possibilities come to mind:

    1- Fill out Schedule C like your online store was a business, with the profit on Line 12 Business Income, then include that same profit (as a negative) on Line 21
    2- Put the entire $17k on Line 12 and also include it (as a negative) on Line 21.
    3- Ignore it. Don't even enter it since the amount was all redeemed lawful money and the 1099K report functions as mere 3rd-party hearsay (and a bit of social conditioning).

    None of these will increase your AGI. IMHO all would work. Your choice.

  6. #26
    Quote Originally Posted by Skeptic View Post
    Q: Posting redacted documents online is no proof of success nor that your "lawful money" filings will continue to get big refunds. Even if you beat the IRS so far, aren't you afraid they'll come after you with a big phat 8-year bill along with interest & penalties? Some of us in the freedom movement have IRS battle scars decades old and here you just waltz in and announce "Oh I got a rubber stamp silver bullet and it's as easy as 1-2-3." Have you no respect for us? I think you have an under-developed sense of fear of the IRS.
    A: Your question isn't income-related but I'll answer. Yes, I know online documents of success don't constitute proof, nor are they admissible evidence. But they are data points for the reader to consider - real or fake? Seeker or agent? I admit a simple restricted endorsement on the back of your paycheck does seem "easy" - perhaps even too easy when I first encountered it. But think of it this way - on the off chance it's a winner, wouldn't you wish you'd tried it? If someone told you about bitcoin when it was a $1 (they did) and said it'd go to $100 (it did) wouldn't you wish you bought a few?

    And then factor in that no other theory provides such a complete answer to everything tax-related. It accounts for all the missing pieces:
    • national currency issuance was taxed, why would they stop?
    • why the tax code never defines "income"
    • why the code is so convoluted & uses so many custom-defined terms
    • why those who endorse Fed Reserve currency are convicted
    • why the law makes a distinction between FRNs & Lawful Money
    • why the law still allows redemption in LM
    • why the tax return is voluntary
    • why you have a right to be heard
    • why no lawful money cases adjudicated
    • why they can't bring proof-of-claim
    • why the disinfo agents badmouth it (War by Propaganda)

    And that's just barely scratching the surface. All the data points fit together perfectly. It's the unified field theory of taxation.

    As for my "under-developed sense of fear of the IRS" - the suitors helped me overcome it. When you use the law as written there is no fear. It's the infiltrators job to keep the fear alive & re-kindle it when it dies. And so far your attempts have been woefully inadequate. The IRS fears me. Next.
    Last edited by JohnnyCash; 02-10-15 at 04:52 AM.

  7. #27
    Quote Originally Posted by JohnnyCash View Post
    ...... The IRS fears me. ......



  8. #28

    Get Your Billions Back, America

    6 - INCOME

    OK let's finish our return & get it filed before the Feds run out of $ and declare the Bankers Holiday. Finish up the INCOME section listing all reported income (or, all the reported income you're comfortable listing). Don't overlook bank interest which will be reported on Form 1099-INT. Investment income will likely show up on Form 1099-DIV. If you paid mortgage interest last year it will be reported on Form 1098, and that means: they presume you paid the interest with Federal Reserve currency (would look odd if you had only $5000 income and paid $11000 in mortgage interest).

    At the end of the section you get to Other Income - Miscellaneous and it's here you enter total redeemed Lawful Money for the year, as a negative amount. A simple total of LM amounts/checks either cashed or deposited. But once again, no more LM than was listed on income lines above. In the description I put: Demand for Lawful Money 12 USC 411. This will create a page titled Other Income - Supporting Details for Form 1040, Line 21 for you to file, like this ...
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  9. #29

    Get Your Billions Back, America


    Next we're asked questions about Deductions, as shown on the list below. Then you'll be asked if you wish to Itemize or take the Standard Deduction. This year (2014), the standard deduction rises to $6,200 for single & married taxpayers filing separately. The standard deduction is $12,400 for married couples filing jointly and $9,100 for heads of household. We took the standard deduction but if you paid large amounts on medical, charities, interest, etc., then try the Itemized deduction - it may give a better refund.

    Educator expenses
    Certain business expenses of reservists
    Health savings account deduction
    Moving expenses
    Deductible part of self-employment tax
    Self-employed SEP, SIMPLE, qualified plans
    Self-employment health insurance deduction
    Penalty on early withdrawal of savings
    Alimony paid
    IRA deduction
    Student loan interest deduction
    Tuition and fees deduction
    Domestic production activities deduction
    Other miscellaneous deductions
    Standard deduction
    Exemption allowance
    Itemized deduction - Medical/dental expenses
    Itemized deduction - Taxes you paid
    Itemized deduction - Interest you paid
    Itemized deduction - Gifts to charity
    Itemized deduction - Casualty and theft loss
    Itemized deduction - Miscellaneous
    Itemized deduction - Other miscellaneous

  10. #30

    Get Your Billions Back, America

    8 - CREDITS

    Next section of the Federal Q&A tab are the Credits. The program will ask questions about various credits you might be eligible for, as listed below. We usually get a few of these Credits. The Earned Income Tax Credit (EITC) is available to lower income filers. For example, married filing jointly with an AGI less than $52,427 qualifies for an EITC of up to $6143. The maximum Earned Income Credit for individual filers this year is $496.
    Illegal aliens can file returns (for the past 3 years) and get the EITC returned as a refund, once they obtain a SSN:

    NOTE that as you go through, TaxACT occasionally offers various features & upgrades at additional cost. I answer "No" or "Skip" to these and find the free software does a great job.

    Foreign tax credit
    Child and dependent care expenses
    Education credits
    Retirement savings contributions credit
    Net premium tax credit
    Child tax credit
    Residential energy credits
    Other credits
    Federal income tax withheld
    Estimated tax payments/prior year applied
    Earned income credit
    Additional child tax credit
    American opportunity credit
    Amount paid with extension
    Excess social security and tier I RRTA:
    Fuel tax credit
    Other payments
    Last edited by JohnnyCash; 02-15-15 at 05:17 AM.

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