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Thread: Greetings from the northwest

  1. #11
    wow, "ask and ye shall receive" I must admit Im looking at my own brain lying on the floor after those very insightful posts. Im currently in the middle of digesting all of that. I wanna say thanks to everyone who responded offering insight. I'm curious about a few things of which have been presented..

    1. David's post. If I'm right you actually were able to get your retroactive federal taxes? so obviously its possible. (correct me if I'm wrong)
    2. The process as it stand for me to currently begin to exit the fed system of currency. If I'm not mistaken with all I've read so far Im to do these steps..
    Tomorrow, Monday. I go to my bank, withdraw all my fed notes and close out my account. Only to open a new one in which I of course make the demand per 12 USC ยง411 on the signature card. Once I do that I, change my fed notes and go on to use that same demand on future checks, and if I'm not mistaken if I do this for a year, keeping track of not only my demands but my purchases, doing so will result in lack of paying federal taxes?

    3.What does this mean specifically for me currently if I do this tomorrow. Opting out of the federal elastic currency, what will happen come tax season, Will I get my refund for the period I used the FRNs? Do I even at this point file? Or simply file but in a different format?

    I'm sorry if I missed any raised points, Im very grateful for all everyone is providing, keeping in mind to include my friends and family with my progress and depth of knowledge as I continue to digest all of this, thank you all so very much and god bless


    P.S. I also noticed the exchange between ManoftheLand and Michael Joseph, what have you two concluded in this informal brainstorming?

  2. #12
    Thanks to all whom contributed so far, I've read some and ask for clarification on how to properly do this and friday is a hop skip and a jump away :P

    From my understanding I would first need to close down my current account and reopen with the demand for legal tender on the signature card. Followed by the demand on the check where my usual endorsement would have gone.

    I also assume that if I follow through with this for a year that and take care to do proper filing and copying of expenses/paychecks that I could then prove to the IRS that they cant tax me.

    Im curious about how the rest of the year would play out till tax season assuming I start this friday. How would april go down as suddenly I've opted out of the elastic currency in the middle of the year? Would I still file that 1040 ez? Please, just looking for that clarification. Again thanks to all whom contributed, I sincerely appreciate it


    P.S- is it a good idea to file that RoL? and for what end?

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