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Thread: W-4 form and the intent for Lawful Money, first step to getting a mistake corrected.

  1. #11
    Quote Originally Posted by David Merrill View Post
    If so, these questions arise:

    What is done to refuse private credit if one receives electronic deposits from companies that are not local to them, or receives a check in the mail and cannot go to the bank upon which it is drawn?

    This may be done on the Signature Card or through Payroll where you work. Just go correct your Authorizing Signature to make Demand for Lawful Money on all transactions. Be aware though, you have to be confident and polite - not demanding with your employer. Don't get yourself fired because you are obstinant.

    They shall be redeemed in lawful money on demand...

    Any way you can get your demand on the record will suffice. So let's say Payroll tells you that you cannot change or specially sign your Signature Card for Direct Deposit. Ask for paychecks? If they do not want to do that, request that they make note that you requested it? Any way to make the record show your intent - after that you are redeeming lawful money.




    Will the bank only give me cash, or does the money in my account now represent in-elastic money by some accounting process?


    This is only when you are getting cash in hand.

    Ever notice how Office Max or PetSmart will have you sign for cash? They want you to endorse that it is private credit. I enjoy messing with them about it. Used to anyway. Now I just sign, Lawful Money and move on.
    Hi David, Thanks for your reply. I am not sure what you are referring to when you wrote "This is only when you are getting cash in hand"?

    I work from home and receive payments through Clickbank, PayPal and a couple other sources. So I am still not clear if the money is private money when they pay me, or does it become private money when I spend it? This isn't clear to me because if I am getting a check on a local bank, it is when I endorse it - so it is in a sort of limbo (for a few minutes, lol!) from the time of receipt to the time of cashing/depositing. Is that correct?

    Around here, if I get cash back at a store, I don't have to sign for it. I was thinking that once it is in a bank account, it is private money. In video one, in the article it says it would be "advantageous" to use cash and postal money orders. Oh, that is another question I have about paying a mortgage. Would paying the monthly payments with a postal money order be paying it with public money, therefore actually buying it instead of discharging the debt with private money?

    Thanks,
    es

  2. #12
    Whenever somebody is handing you cash, postage stamps or money orders - lawful money of the US - and they want you to sign for it, assume they are asking you for endorsement of private credit. Sign your demand for lawful money rather than an endorsement.

  3. #13
    Just some things I noticed...I am looking at the "Deposit Ticket" for the bank we use, a local cooperative. There is a line that says "SIGN HERE IF CASH RECEIVED FROM DEPOSIT". I small print it says "BE SURE EACH ITEM IS PROPERLY ENDORSED."

    Please remind what the "demand for lawful money" wording is again?

    Before now I always wondered why I had to endorse MY OWN checks when I want to cash one, too. So, it appears to me, and correct me if I am wrong, I could go to our bank and write a check for the balance in our checking account, sign with the "Redeemed In Lawful Money Pursuant to" statement, and receive same back. The same way a paycheck can be redeemed for lawful money.

    Question on the name. Is "my name" the name I go by, and my dba name is my full name? Or is it the exact name that the check is made out to?

    Thank you!
    ES

  4. #14
    Quote Originally Posted by earthshake View Post
    Just some things I noticed...I am looking at the "Deposit Ticket" for the bank we use, a local cooperative. There is a line that says "SIGN HERE IF CASH RECEIVED FROM DEPOSIT". I small print it says "BE SURE EACH ITEM IS PROPERLY ENDORSED."

    Please remind what the "demand for lawful money" wording is again?

    Before now I always wondered why I had to endorse MY OWN checks when I want to cash one, too. So, it appears to me, and correct me if I am wrong, I could go to our bank and write a check for the balance in our checking account, sign with the "Redeemed In Lawful Money Pursuant to" statement, and receive same back. The same way a paycheck can be redeemed for lawful money.

    Question on the name. Is "my name" the name I go by, and my dba name is my full name? Or is it the exact name that the check is made out to?

    Thank you!
    ES

    In my experience most of these questions will answer themselves. For example - withdraw your entire checking account in cash lawful money by demand and start using cash. Or buy a $500 debit card and do not provide any information. There are some snags to work through but I supplied a thread here. Memorize the number and utilize the security code instead of signing.

    Or not. Just quit writing checks or when you do, write your demand for lawful money in the Memo field...

    Or change the signature on the Authorized Signature Card to:

    All transactions are to be in Redeemed Lawful Money pursuant to Title 12 U.S.C. ยง411.

    They will automatically change your account to interest free, since you are no longer supplying them with the benefit of fractional lending on your funds on deposit.

    Always sign with your true name. If they do not like that then add dba Legal Name. If they do not like that then open a business account in your Legal Name because it is not yours; like JHD Roofing.

  5. #15
    Can you point me in the right direction with regards to getting my IRS taxes refunded?
    I had filed all of my paperwork to start the redemption process - UCC1 Etc ETc.
    What are the next steps to LEARN how to get my taxes refunded for the last years that I had paid into them. Its over 100K in taxes that I had paid into their monopoly. I have HEARD and READ people using the 1099 OID process - not recommended.

    Thank got for like minded people like you all in this message board.

    Regards,

    D

  6. #16
    Hi motla68,

    Did the woman that did this continue to receive paychecks with no federal withholding? I have submitted an exempt W-4 before (not 12 USC 411) and it worked for a month (1 paycheck) then for future months the withholding came back. Curious if hers stuck.

  7. #17
    Senior Member motla68's Avatar
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    Quote Originally Posted by Snuffy View Post
    Hi motla68,

    Did the woman that did this continue to receive paychecks with no federal withholding? I have submitted an exempt W-4 before (not 12 USC 411) and it worked for a month (1 paycheck) then for future months the withholding came back. Curious if hers stuck.
    Yes, it did stick. I last spoke with her about 2 weeks ago. She is now very close to retiring sooner then later from the corporate world, just got her certification in Reiki i think it is called and she will do that part time. Since being a part of the local group she has come into more enlightenment when it comes to money/commerce and said she would do this for free for those who honestly could not afford it and had a great need.
    Receive freely, give freely , everyone benefits.

  8. #18
    Snuffy "I have submitted an exempt W-4 before (not 12 USC 411) and it worked for a month (1 paycheck) then for future months the withholding came back". How did it come back?

  9. #19
    Appreciate the feedback motla68.

    Quote Originally Posted by Chex View Post
    Snuffy "I have submitted an exempt W-4 before (not 12 USC 411) and it worked for a month (1 paycheck) then for future months the withholding came back". How did it come back?
    I may have used the wrong term. By "came back" I meant the withholding resumed as if the W-4 had not been submitted. I don't have my pay stubs with me right now to see if the exact withholding amounts resumed.

  10. #20
    I submitted a w-4 to the employer, exempt and with notice of 12 USC 411.

    I heard not a peep from Payroll or several weeks - until one day I read an email from Payroll citing State laws and IRS publications that explained that I had no standing to include on the form any information that is not requested by the form.

    So I submitted yet another w-4, exempt but without notice of 12 USC 411. Payroll was only concerned that the w-4 was filled out according to law. Everything has been fine for me ever since.

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