Originally Posted by
itsmymoney
Johnny Cash has made a salient point that redeeming in lawful money is not listed on the 'frivolous positions' held by the IRS. However, if the IRS has determined that you are simply confirming the 'FRS version' of lawful money by your novation language then perhaps this is why 5K penalties do not seem to be getting exacted on lawful money returns - but the conflict is that the IRS is honoring your TRUE lawful money declaration and non-endorseent of FRS private credit by returning your property.