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Thread: Exactly what does the IRS agent think?

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  1. 07-31-14, 09:57 PM #11
    doug555
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    Quote Originally Posted by Michael Joseph View Post
    If you have a zero filing....the computer is most likely kicking it out based on BEARD v COMMISSIONER and U.S. v RIFEN. Beard argues an EXCHANGE THEORY labor for notes = no gain. Beard does not see the Trust.

    In Rifen FRN's are Taxable. Huge Presumption. Question: What's in your wallet?

    Shalom,
    MJ
    What's in your wallet? Indeed... But, once lawful demand is made, the FRNs become USNs.... dual purpose Notes as the Treasury FAQ says...

    BTW: Notice that the FRS Seal on the left side of top $5 is missing...

    Name: USN vs FRN.jpg Views: 1251 Size: 109.6 KB
    Last edited by doug555; 08-01-14 at 07:47 PM.
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