You can view the page at http://savingtosuitorsclub.net/content.php?121-Welcome!
You can view the page at http://savingtosuitorsclub.net/content.php?121-Welcome!
It has been three or four days now. For a day or two I felt like suitors had bought me a website. I am delighted that as people join in, I can no longer keep up with the conversations!
Well, it was fun while it lasted - having a website to call my own. Now it is even more fun to see how many others are enjoying "my" website!
Thank you to the suitors and to David for this site! Keep the faith and works because it is paying off!
I just heard a report from a non-suitor waiting for his tax refund. He prepared a memorandum documenting all his non-endorsed paycheck demands for lawful money... Nothing! So he sent in a more detailed report and now he is getting his full Refund in the near future, as reported by the website.
This is great!
They were reluctant so that indicates that they were looking for a way around the law. Then upon continued and more detailed demand, they are refunding his withholdings. This shows a process of contention over the facts and law, and the IRS lost the argument.
Regards,
David Merrill.
As I understand the concept, by redeeming lawful money, there is no income. Given there is no income, is it necessary to file a 1040?
Originally Posted by bigred
If you redeem lawful money it is never necessary to file a 1040 Form. You have excluded the Fed from your contracting and left all obligations exclusively to the US government by the signatures of the Treasurer and the Secretary on every bill.
But I am addressing the majority of readers who are employed. If you want your Withholdings Refunded, that will require you file a 1040 Form it seems. I am importing yesterday's email by Crosstalk:
The protest to the Form is in the prefix. I have used the technique effectively over the years. First you Notify without the standard form and then you conform if needed. Therefore you get your protest to the Form (forum) on the record first. But you see that the IRS could not respond either way, without the proper Form.Subject: This just in
My friend has been making a demand for lawful money for about two years now. He had some trouble wrapping his mind around getting his withholdings back. So he decided to issue forth a memorandum with all the checks attached. He heard nothing. So he decided to fill out a 1040 and reference the memorandum that he previously sent. He attached copies of all checks again for their use.
This just in: "By the way, I went online to the IRS site last Saturday and discovered that my refund will be sent out on or before April 5.
The computer told me that."
Details are coming.
Regards,
David Merrill.
Just to make one clarification, there is "income" when redeeming lawful money, however, that income is from a "non-taxable" source and there is no reason to report it after the first year of redemption.
I am not saying that is incorrect, only that it does not make sense to me. Let's say you start redeeming lawful money in March; you would report for January, February and March but you would not report any income after March. You would forfeit the Withholdings against your tax liability for the three months, but you would report all your Withholdings so that you would get a Refund for the remainder. This keeps your employer out of the thick of it. Your employer will see you as a normal taxpaying employee unless you or the IRS informs him otherwise.
I completely agree there is no need to file a 1040 after the first year of Lawful money redemption. I also agree with you that there is no "income" after the demand for lawful money and non-endorsement has been made.
My issue has been explaining lawful money redemption to numerous IRS preparers and accountants (family members of mine make a good 'money' of their practices before the IRS), the ONLY way they can comprehend the issue is from a Taxable income source or a non-taxable income source. Since "Obligations of the US are not taxable income" they still maintain I have "income" but not from a taxable source.
They see anything that has commercial value (even lawful money of face value) as "income". The very reason we keep a record of lawful money demand is to prove the fact we do not have "income from a taxable source" and our possessions (including labor) are not "first leaned" by the Federal Reserve.
The taxable source would be the Federal Reserve and our (taxable event) endorsement of it.
The non-taxable source would be the Treasury via lawful money demand.
When explaining lawful money redemption to people who know IRS terms, it is nearly impossible to convince them I have no 'income'. But using their own definitions and regulations, I can show them my income remains an "obligation of the United States" and therefore, non-taxable, when I demand lawful money redemption and 12-USC-411.
Does that make more sense?
Last edited by martin earl; 03-12-11 at 04:54 PM. Reason: add something
I did not make myself clear apparently.
The main reason you would file, after redeeming lawful money is to have your Withholdings Refunded.
There is even a good reason to file when you are self employed. Your several bosses will be reporting they paid you presumed taxable income usually by 1099 Form. Since you do not earn the minimum taxable income to bother reporting, it may be that the IRS agent will assess you based on the client reports.
Therefore it could be wise to alert the IRS that you are not contracting with them by the form they understand. When they are considering assessment they will already be on notice that you have been redeeming lawful money.
These circumstances are independent of 'a year after you begin redeeming' like you imply.
Regards,
David Merrill.
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