Originally posted by TMI
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DH and I also got burned by dabbling with Pete H's CtC, and it cost us lots of time and money.
We did some experimenting, because we have little to loose and no dependents.
The Libel of Review is a great learning experience for those of us who never learned to contract properly, but the i r s completely ignores it, as it issues from living men and women, not PERSONS, which is all they deal with. They do not perceive live humans.
After experimenting with Lawful Money and tax returns, I came to the following conclusion:
When a man/woman signs a W-4 or gives an SSN to receive a 1099, for the purpose of getting paid in bank checks, which are then deposited or cashed at a bank where said man/woman has a PERSONAL or BUSINESS bank account, tied to an SSN or TIN, that man/woman's PERSON is then considered to be engaging in a "trade or business" with the UNITED STATES and is a TAXPAYER, obligated to file INCOME TAX RETURNS with the i r s.
Or in other words, anyone getting paid via bank checks or direct deposits is a slave who has no rights or freedoms whatsoever, a mere "human resource" of the bankers.
IMO, the only real Lawful Money there is is gold and silver coin or other precious commodities with intrinsic value, and in desperate times FRNs in the form of cash can also be used as Lawful Money, IF they are not going through a bank account.
The two bankers I've conversed with on this topic both said that 12 USC 411 has nothing to do with banking or income taxes.
I still use the LM verbiage recommended here on StSC on the back of checks, but I don't have a bank account anymore.
The i r s lost interest in me after I gave up PERSONAL banking.
I consider all checks made out to my PERSON to be taxable income because they issue from a US bank to a US PERSON (slave), but I never get high enough amounts in any given tax year to have to file a return.
There are other members here who do not at all agree with my assessment of the situation, but these are my personal conclusions, based on my personal experiences.
Others have other experiences, based on their own circumstances.
I believe that taking "lawful money deductions" on i r s tax return filings, while being engaged in banking as a US PERSON will ultimately result in frivolous filing penalties, just like CtC filings did after some years of seeming success.
This is my 2 cents worth.
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