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    Silver

    The IRS Wants A Piece Of Your Gold And Silver Profits: Here’s What You Need To Tell Them… And What You Don’t

    Mac Slavo
    July 12th, 2016
    SHTFplan.com
    Comments (42)
    Read by 16,386 people

    taxman

    With gold and silver gaining popularity as safe haven assets during economic crisis there is a strong possibility that we’ll see prices go to all-time highs in the future. With those price increases will come windfall profits for investors. And, as you already know, where there’s profit, there’s a government with its hands in your pocket trying to get a piece of the action.

    On that note, online gold and silver dealer JM Bullion has put together this nifty guide to help you decipher what the IRS does or does not need to know about your precious metals investments:

    gold-silver-irs-taxes3

    Visit JM Bullion for precious metals news, guidance, and all your silver and gold investment needs

    Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.
    Gas Masks, Filters, Body Suits, Anti Radiation Pills
    Please Spread The Word And Share This Post

    Author: Mac Slavo
    Views: Read by 16,386 people
    Date: July 12th, 2016
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

    42 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Jim in Va. says:

      government is going to take whatever you have. No gold? No silver? We’ll take some of those canned goods,a couple of cases of that ammo and oh yeah….all your weapons! Here is a receipt,thank you very much.

    2. stolz Vorfahren says:

      It is time to go on food stamp.

    3. Enemy of the State says:

      The interesting piece this week was … did anyone state ‘anything’ about the ‘unarmed’ white person that was shot/killed by Police in Fresno while laying on the ground vs. the others ? Note: Nobody even mentioned it.

      aint even seen it here …crickets

    4. Enemy of the State says:

      ht tp://www.dailywire.com/news/7274/cops-shoot-white-guy-fresno-nobody-pays-attention-hank-berrien

      • It’s not covered by the media when the victim of a police shooting is white. If it is mentioned, the white is generally demonized or marginalized in some way. The media, all, yes all the T.V. Networks are owned by Zionists. All the T.V. News programs spew propaganda for Zionists. Not all Zionist propaganda relates to the Middle Eastern conflicts. The Zionists have a global agenda which relates to how Americans view themselves. Zionists want white genocide and everything they cover on their T.V. Is designed to destroy white persons, to demonize white self awareness, to crush white pride, to annilate white interests.

        Why do you make my posts disappear?? This is not freedom of speech. This is a conspiracy to keep Americans ignorant about Your Power, you know who you are. I know who you are. I know what you’re doing. You evil Devils will be driven back to hell. Say hello to The DEVIL, your father. You don’t have many days as rulers of earth. Soon God will free mankind from the tyrrany, deceit, lies, and atrocities you love.

        • B of CA
          Blacks killed are also demonized. I am not sure how you miss those articles. White people are not demonstrating in the streets for white victims. If they did, they would get press coverage.

    5. It’s not covered by the media when the victim of a police shooting is white. If it is mentioned, the white is generally demonized or marginalized in some way. The media, all, yes all the T.V. Networks are owned by Zionists. All the T.V. News programs spew propaganda for Zionists. Not all Zionist propaganda relates to the Middle Eastern conflicts. The Zionists have a global agenda which relates to how Americans view themselves. Zionists want white genocide and everything they cover on their T.V. Is designed to destroy white persons, to demonize white self awareness, to crush white pride, to annilate white interests.

      • SumItUp says:

        The Sequence [for the U.S.A.]:

        1) African-American (Black) Women

        2) African-American (Black) Women

        3) Caucasian American (White) Women
        4) Caucasian American (White) Men

        Revision Added at the Last Minute:

        X) Unknown Nationality, (Color Unknown) Immigrant [Male or Female]

        (…The author makes no claims or warranties for the accuracy of the information provided. If you feel that you have been wronged, slighted, abused, profiled, etc., or are just upset about the comments mentioned here, then please do something about it – Anything about it…)

        Thank You
        Have a Pleasant Day

    6. rellik says:

      All I can say is anyway we can screw the Democrat tax guys, go for it. Tax evasion is only a crime if you get caught.
      Legally, even barter transactions are taxable if you realize a gain.

      • Woogie says:

        Tax evasion is not a crime if you are a democrat working in this bum-0 administration.

        • WhoWTFKnows... says:

          How about the Illegal Alien that comes into the USA in violation of immigration laws, then works for cash under the table, collects Welfare and food stamps, free health and education for their children, has a State Drivers license, even voted for Hillary for President in the primary, then wires a lot of the cash back to their home land, and never pays a dime in taxes.

          Question: Does he have to report this to the IRS? Like WTF?????????????, This Government has its eyes on the wrong people. The number of Illegals doing this in the US right now, that are living off the Radar, comes to about 20,000,000 people.

          And Jose the Illegal probably cuts the lawn of the IRS Agent every Wednesday for cash.

          Welcome to America. And us LEGAL AMERICN CITIIZENS who do the right thing are Taxed, Beaten and robbed of all our hard working profits, to subsidize the Illegals BS of Terror.

          ~WWTI… Press 1 for English!! Trump for President.

      • anonymous5 says:

        Many of the founders of this country were smugglers and tax protesters (i.e. evaders)

        Fuck the IRS.

    7. aljamo says:

      We know who controls the show, but are apparently not together on the way to stand up against them and gain back some control of our country that our forefathers and mothers gave their lives for. It’s dangerously close to the point of unretrievable.

    8. Sgt. Dale says:

      What silver. It all fell into the hole after or during the earth quake.
      Sgt.

    9. Dave says:

      The irs can f–k straight off! I will never go out of my way to fund globalist war, abortion, liberal arts, failucation, open borders, incredibly costly free trade, police state, unconstitutional abc agencies, etc., etc., etc., etc. …

    10. Here’s to the I.R.S all you Pieces of Human Garbage you Can Suck on my Oscar Meyer Weaner be for I Will give you ANYTHING. Put Hillary in jail then will Talk

    11. Pa Mountain Man says:

      IRS: You made a profit by buying silver low and selling high.

      Me: I didn’t intend to make a profit, (just like someone didn’t intend to profit on ‘cattle futures’)

      IRS: You broke the law

      Me: I didn’t intend to

      IRS: How much did you buy?

      Me: I can’t recall

      IRS: You mean to tell me you made a profit, didn’t report it and now you don’t know? Do you know what trouble you are in?

      Me: (after feigning a coughing fit and a seizure) At this point what difference does it make?

      IRS: Congratulations! You passed the vetting process. You may now run for office.

      • rick says:

        You cannot “make a profit” exchanging gold or silver coin that has a “dollar value” stamped on it. The US Supreme court has ruled. There is no difference recognized before the Law on a coin’s stamped value and its market value., nor between paper and coin. Thompson .vs Butler 95 US 694 (1877), Ling Su Fan .vs US 218 US 302 (1910).

        • American Patriot says:

          This is true and I agree with you but go try and cite case law precedent from before 1930 and see how far you get! There is a creed among lawyers and judges to ignore all of those details because they will unravel the totalitarian Oligarchy the elite are establishing everywhere for us, whom they consider their sheep.

    12. Asshat says:

      My work gave me a letter trying to get me to do direct deposit. Hell no two guys I work with have the same last name and the fucked up the payroll in regards to vacation pay. The lady that does the payroll didn’t want to report her mess up to corporate so the senior of the two got screwed out of some$ and he told me they still haven’t fixed it. Why the hell would I trust them place is a joke. Keeping my eyes open for better job supposed to be making like $4 more an hour. I hate corporations so sick of them.

    13. stu redman says:

      Metals going up are not “profits” as they can’t buy more then they did at the lower prices, what is happing is the value of cash is falling away, same goes for housing.
      Example
      Lets say gold triples in ‘value” next to the dollar, has it tripled in all currencies? My bet is no.
      Next, what can you buy with that same gold before, and after the change of dollar value?
      If it’s the same, or about the same, no profit” is realized
      If it took 100 gold coins to buy a home before, it will likely take 100 after the dollar is no more.
      The only exception would be if everyone is as broke as it looks like everyone will be, then you may have more buying power if you’re one of the very few still with any buying ability
      Like in monopoly, if you’re the only one with any money left, you have no competition in the market, no one can out bid you even if you are paying far less then the real value of the thing being sold.

      Gold’s not about making money, it‘s about storing your time in something that can’t be printed, in something that they can’t use to rob you with, it’s the game of KEEPING your savings value in something stable.

      Having the government that is destroying our currency now come and demand taxes on the gold is like someone beating the hell out of you, then having them send a dry-cleaning bill for the blood you spilled on their cloths.
      They’re basically stealing everyone’s wealth through counterfeiting the currency, many are powerless to stop them from robbing every penny they have, but to make it worse, now they demand payment on anything that didn’t drop in value along with their paper debt notes. WOW
      you have to be kidding.
      Screw them.

      • Pa Mountain Man says:

        You’re correct. In 1960 gasoline was .20 cents a gallon (roughly) and an ounce of silver was a dollar, so in 1960, one ounce of silver could buy 5 gallons of gas. In 1980, gas was a dollar a gallon, and 5 ounces of silver was $5.00 and could still buy 5 gallons of gas. Today, a one ounce bar of silver STILL buys about 5 gallons of gas. So, what went up in value? Did silver go up or did the dollar drop? The dollar is worth LESS than it was in 1960. No profit made by buying silver, but didn’t loose value like the dollar bill.

        I try explaining this to some people and they look at me like I’m crazy. We’ll see who’s crazy very soon.

        • Doug says:

          I use the same example except with a quarter, not a dollar. “Large” numbers confuse dumb people.

          As a child in 1963 a friend of my father owned a gas station and the price was 19 cents a gallon.. A silver quarter bought a little more than a gallon of gas.. Today, silver is “worth” $3.68 and buys nearly a gallon and a half. So actually the true price of gas has gone down in the last 50 years, not up.

    14. Plan twice, prep once says:

      Mac,
      Great article, very important information for any prepper that has a few dollars extra for precious metals.

      Thank you.

    15. Mr Smith says:

      Are we not jumping the gun a bit here since lots of people have made a loss over the past four years on gold/silver “Investments”

      Don’t worry because i buy for cash and will be doing just that if silver drops back down to $12 oz on paper and the spot price is not too high on the real deal.

      Yes i know prices can only ever go up from now onwards because China is buying up all the gold just like it has been over the past 4 years as prices continued to drop so don’t listen to me and go with ZeroHeadge thats trying to sell you the best hing since sliced bread because they want to share the profits with you.

    16. The government is broke and it wants your assets. Not rocket science.

    17. Rick P Breda says:

      The IRS is not entitled to them, says the US Supreme Court TWICE!

      The first case, Ling Su Fan v. U.S., 218 US 302 (1910) establishes the legal distinction of a coin bearing the “impress” of the sovereign:

      “These limitations are due to the fact that public law gives to such coinage a value which does not attach as a mere consequence of intrinsic value. Their quality as a legal tender is an attribute of law aside from their bullion value. They bear, therefore, the impress of sovereign power which fixes value and authorizes their use in exchange.”

      The second case, Thompson v. Butler, 95 US 694 (1877), establishes that the law makes no legal distinction between the values of coin and paper money used as legal tender:

      “A coin dollar is worth no more for the purposes of tender in payment of an ordinary debt than a note dollar. The law has not made the note a standard of value any more than coin. It is true that in the market, as an article of merchandise, one is of greater value than the other; but as money, that is to say, as a medium of exchange, the law knows no difference between them.”

      The IRS got it’s ass kicked in Montana. 161 Counts on Criminal tax Evasion, 0 ZERO Convictions! Employer Paid Employees in Gold and Silver Coin. Claimed FACE VALUE as INCOME!

      http://wethepeoplefoundation.org/UPDATE/Update2007-09-30.htm

    18. Rick P Breda says:

      Media Blackout:
      161 Federal Tax Charges, 0 Convictions

      IRS Suffers Staggering Defeat

      Tax Questions Raised Regarding
      Gold and Silver Coins Used to Pay Wages

      http://wethepeoplefoundation.org/UPDATE/Update2007-09-30.htm

    19. Problemfixr says:

      Just file for your REVOCATION OF ELECTION and the IRS no longer has any power over you. It is legit…Check for yourself

    20. Larry says:

      Seen this before, but this is a great article, Thanks!

    21. Larry says:

      Are you even a taxpayer? see losthorizons.com and get enlightened.

    22. Granny Jay says:

      Well kids, now you have the REAL reason for airport body scanners: gold coins. The Powers That Be Doomed want no metals or gems moving without their knowing. They also game civil forfeiture of “suspicious” amounts as defined by them for the benefit of them.

      The key question on taxpaying is a little lost on Mr. Lost Horizons, although I respect his work and legal struggles. More power to him and his unjustly suffering wife.

      The key is whether you are a “U.S. citizen” or an American national. Even a national must decline to “elect” to be treated as a citizen for taxes. The IRS code of course has that option as default presumption. Visit sedm.org and annavonreitz.com for the legal info.

    23. Granny Jay says:

      Endorse checks with Title 12 Section 411 notice so your bank account and FRN cash become “lawful money” like minted USA silver coins. Use a search engine. Youtube has videos too. Title 12 Section 411 is another key buried in musty depths where the PTBD want it. The status of your finances are in your hands, not the Fed, not the banks, not even the “U.S. Congress” (a mere corporate board for US Inc. not true Congress anyway, mostly ruling its “U.S. citizen” subject-employees).

      The general rule is anything you sign without knowing a remedy to stay out will drop you into the matrix. The system is diablolically self-serving in its legal presumptions.

     

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