Archives for posts with tag: irs

GREAT NEWS! Finally States are doing what needs to be done! This article, from another blogger (highly recommend reading his blog found at https://politicalcelcraft.org) who is most informative in his writings:

Arizona Governor Signs Bill Nullifying Capital Gains Taxes On Legal Tender Of Gold And Silver: Legalizing The United States Constitution

24 May 2017 by Volubrjotr

https://politicalvelcraft.org/2017/05/24/arizona-governor-signs-bill-nullifying-capital-gains-taxes-on-legal-tender-of-gold-and-silver-legalizing-the-united-states-constitution/

Legalizing The United States Constitution in Arizona.

On Monday, Gov. Doug Ducey signed a bill into law that eliminates states capital gains taxes on gold and silver specie. The tax repeal will not only benefit Arizonans who invest in gold and silver, it will also facilitate their use as currency and undermine the Federal Reserve’s monopoly on money.

Rep. Mark Finchem (R-Tucson) sponsored HB2014. The legislation eliminates state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.

In effect, passage into law will “legalize the Constitution” by treating gold and silver specie as money.

The new law will go into effect Aug. 9, 2017.

Getting Gov. Ducey’s signature on the bill was a major victory, and the culmination of more than five years of work by supporters of sound money in the Grand Canyon State. Similar legislation passed the legislature in 2013, 2015, and 2016, but Gov. Jan Brewer vetoed the first two bills, and Gov Doug Ducey killed last year’s effort.

Grassroots support was crucial in pushing this legislation across the finish line this year. A dedicated group of volunteers lobbied for the bill, and Ron Paul traveled to Arizona and testified on its behalf.

We ought not to tax money – and that’s a good idea. It makes no sense to tax money,” he said. “Paper is not money, it’s fraud.”

The new law’s impact goes beyond mere tax policy. During an event after his Senate committee testimony, Paul pointed out that it’s really about the size and scope of government.

If you’re for less government, you want sound money. The people who want big government, they don’t want sound money. They want to deceive you and commit fraud. They want to print the money. They want a monopoly. They want to get you conditioned, as our schools have conditioned us, to the point where deficits don’t matter.”

AN IMPORTANT STEP FORWARD

The new law allows taxpayers to deduct the amount of any net capital gain derived from the exchange of one kind of legal tender for another kind of legal tender or specie (gold and silver coins) from their gross income on their state income tax. In other words, individuals buying gold or silver bullion, or utilizing gold and silver in a transaction, would no longer be subject to state taxes on the exchange.

What the IRS has figured out at the federal level is to target inflation as a gain. They call it capital gains,” Finchem said during a committee hearing. He noted that the bill would help Arizona residents “protect their conversion of one kind of currency for another.”

Passage into law marks an important first step towards currency competition. If sound money gains a foothold in the marketplace against Federal Reserve notes, the people would be able to choose the time-tested stability of gold and silver over the central bank’s rapidly-depreciating paper currency. The freedom of choice expanded by HB2014 will help allow Arizona residents to secure the purchasing power of their money.

Ron Paul said he considered the Arizona bill to be “very important” because it would also serve as an educational effort for other states.

“The responsibility is on the states to follow the Constitution,” Paul said.

BACKGROUND INFORMATION

Currently, all debts and taxes in Arizona must be paid with either Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.

But the United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

The Arizona law takes a step towards that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly or the Federal Reserve by introducing competition into the monetary system.

Professor William Greene is an expert on constitutional tender and said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

“Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”

Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people. Nullifying the Fed on a state by state level can get us there.

The Tenth Amendment Center contributed to this report.

Received this email this morning:

“Is the IRS in Collusion with the Clinton Foundation?

Charles Ortel’s quest to expose Clinton Foundation fraud has a Lois Lerner connection

September 25th, 2015

Does anyone remember Henry Markopolos? In case you don’t, he was the former securities industry executive who for nine years persistently, but unsuccessfully, tried to convince the U.S Securities and Exchange Commission (SEC) that the respected securities investment firm headed by Bernie Madoff was engaged in massive long-term fraud.

Fast forward to 2009 when Madoff was sentenced to 150 years in prison for operating the largest private Ponzi scheme in history adding up to billions of dollars in client losses.

In 2010, Markopolos wrote about his dramatic whistle-blower experience in a book aptly titled,  “No One Would Listen: A True Financial Thriller.”

So why am I bringing up the heroic efforts of Harry Markopolos?

The answer is a whistle-blower in the mold of Markopolos has come to my attention and his name is Charles Ortel. Like Markopolos, Ortel has a background as a financial industry executive in addition to a successful track record of identifying economic trends and systemic problems within companies, most notably General Electric.

Throughout 2015, Ortel has carefully studied and documented a decade’s worth of domestic and global fraud, theft, corruption and violations of strict IRS rules being perpetrated by a prestigious multi-billion dollar charitable organization known as the Bill, Hillary, and Chelsea Clinton Foundation.

Unlike Markopolos, who went to the SEC and was largely ignored because of incompetence, Ortel believes that the IRS is actively in collusion with the Clinton Foundation.

Collusion with the high-profile charity explains why the IRS is not thoroughly investigating Ortel’s carefully documented allegations of illegal activity on a scale so grand that a major audit would certainly be triggered if the name of the foundation was not “Clinton.”

Only collusion explains why, for over a decade, the IRS has allowed the Clinton Foundation, and all its umbrella organizations with different names to operate outside the strict rules and regulations under which all tax-exempt charities must operate or risk losing their tax-exempt status.

Ortel calculates that 2004 was the year when the foundation began engaging in massive fraud. Now guess who was director of the IRS’s Exempt Organizations Rulings & Agreements Division at that time? And guess who in December of 2005 was promoted to director of the entire IRS Exempt Organizations Division? Does the name Lois Lerner ring a bell?

The now disgraced Ms. Lerner resigned and retired from the IRS in September of 2013. In May of 2014 she refused to testify before a congressional committee. She then invoked the 5th Amendment,  and was found in contempt of Congress. Lerner became the name most associated with what is still an ongoing IRS investigation as to why and how her department consistently denied tax-exempt status to conservative groups.

Ortel told RedState that he believes Lerner, a known partisan Democrat, “looked the other way at the IRS, thus allowing the Clinton Foundation’s cancer to spread.”

But even with Lerner long gone, Ortel says “Clinton acolytes are spread throughout the IRS.” Certainly those allegations help answer the question I posed two weeks ago on National Review: “Where are the Clinton Foundation’s Revised IRS 990 Forms?”

Fortunately my piece caught Ortel’s eye and now, after many discussions, I realize that asking why the IRS has yet to crack down on the Clinton Foundation for their delayed 2014 Form 990 along with years of promised revised filings, barely scratches the surface.

With the IRS ignoring Ortel, he is seeking nationally known investigative journalists to help him gain some traction in the mainstream media for his politically charged allegations in hopes that the Clinton Foundation IRS corruption scandal will “go viral.”

One such report details how $17 million disappeared between the “old” Clinton Health Access Initiative (CHAI) at the end of 2009 and the “new” CHAI beginning in 2010 while Hillary Clinton was finishing her first year as secretary of state.

Half-joking, I asked Ortel if he had bodyguards. He did not laugh, but instead said, “That is why I am actively reaching out to investigative journalists.”

Read for yourself what Ortel has uncovered and documented in his new 26-page second interim report titled, “FALSE PHILANTHROPY”.

Charles Ortel is a man on a mission who keeps digging deeper into the bowels of the Clinton Foundation and their tangled web of at least 75 different companies and organizations with tentacles in numerous states and nations. For example, in Florida alone there are four links under the name of theBill, Hillary, and Chelsea Clinton Foundation on the Florida Department of State Division of Corporations web site.

Meanwhile, on September 26 – 29, the 11th annual meeting  of the Clinton Global Initiative will be held in New York City. Corporate titans such as Bill Gates and George Soros are mentioned in the press release as attendees, along with hordes of A-listers and several heads of state.

The theme of the star-studded gathering is “The Future of Impact.” However, the always impactful Hillary Clinton will be conspicuously absent, while Charles Ortel is hopeful that his “future impact” will be forthcoming.

Finally, the National Journal’s Ron Fournier added some fuel to Ortel’s fire. In a piece demanding that Hillary Clinton either “come clean or get out,” Fournier hearkens back to that famous phrase, “follow the money” attributed to “Deep Throat” in the Watergate scandal when he writes that a Clinton loyalist said to him, “The emails are a related but secondary scandal. Follow the foundation money.”

Surely many people want to do that, except the IRS.”

ALERT!! IRS Online Fillable Forms CALCULATING WRONG!!!

I am compelled to interrupt the post string to ALERT taxpayers that using the Online Fillable Forms on the http://www.irs.gov website may be to their detriment!
Yesterday, as I was filing, I noticed that on form 8812, the number automatically calculated for Lines 2 and 3 were INCORRECT! The number on Line 2 SHOULD have been the number on Line 3, and the number on Line 3 SHOULD have been the number on Line 2. These automatically calculated & entered numbers could NOT be deleted, NOR fixed by any means. This means that, on this particular form, whatever number (in this case, an INCORRECT number) was on Line 3 was then automatically calculated and entered on Line 13 of that form, as well as on Line 65 of the 1040! This resulted in an ERROR of $104. in this particular case- meaning it REDUCED the TOTAL REFUND BECAUSE of an automated INCORRECT entry.
PLEASE BE AWARE that this may NOT be the ONLY form where errors are happening.
One must ask ‘WHO is this benefiting?’

One significant problem with people who were raised using only calculators, and hence, trusting the figures generated by machines, is that they cannot/do not check these figures by doing the math long-hand. They BELIEVE those automated calculations to be correct, and mistakenly assume that these machines cannot make any errors. Furthermore, most of these people who were raised using calculators do not generally have the skill or know-how to do math the ‘old-fashioned way’, using a pen and paper and their own brain.

This error with the IRS Online Free Filing Fillable Forms can- and already may -lead to millions and millions of taxpayers either RECEIVING LESS ON THEIR REFUND than what is owed to them, or they may end up PAYING MORE TAX than they actually owe.

Again- WHO is benefiting? The IRS CLAIMS these forms are furnished by independent companies that are not part of the IRS. In researching the particular alleged company yesterday, I found the phone number (supposedly to resolve problems) given to me BY the IRS man did not actually GO to the alleged company, but instead, went to a Conferencing company. This company assured me that they only organize conferences for other companies, and had nothing to do with the company the iRS said they did, nor did they have anything to do with the IRS. I tried the number twice;both times reaching this Conferencing company.
When I researched further, I did find a few articles referring to the company the IRS said was responsible for these online fillable forms. The phone numbers on the articles gave the same exact number (the one that reaches the conferencing company, and NOT the company responsible for the fillable forms for the IRS). The articles also gave a second number, supposedly for use ‘internationally’. However, the second number was a Disconnected phone line.

It made me wonder where the excess money owed to taxpayers was ultimately going to…Is it STAYING in the US Treasury, even though it is owed to taxpayers? OR is it being funneled off to somewhere else? In either case, it would behoove the taxpayer to DOUBLE CHECK ALL FIGURES if they are filing using the online Free Filing forms.

When I finally -after several hours- was able to reach someone who could do something about the errors generated automatically with these programs, I was told that the IRS has been “riddled with errors on these programs” and is working to resolve them. Of course, this may not be easily done, since REPORTING any errors takes HOURS and lots of PERSERVERANCE- the IRS may not even KNOW about ALL the problems UNLESS they ARE reported! Most people will not go to such lengths to report them. I did because I thought it was important that it gets corrected, as it may assist other taxpayers- some of whom won’t even realize they are getting ripped off!

So PLEASE BE CAREFUL when filing online. I would advise to do your forms long-hand, and double check everything BEFORE attempting to use the online fillable forms (or any other online method). This will allow you to check to see if the figures are correct, and if they’ve been entered on the correct lines.

A fellow with the IRS actually went online, attempted to fill it out correctly, and agreed that the form was transposing the information to my detriment. So, this is not a matter of my making a mistake. This is ACTUALLY happening.
I do not know how many people have already filed and DID NOT CATCH this erroneous filing information, but I daresay that there have been many who will suffer from the computer program entering incorrect figures, on the wrong lines.

Even Tax Experts, like H & R Block or any CPA, MAY NOT BE AWARE of these computer program flaws. People should double check their filings, even if they have already filed!! PLEASE be mindful.

If anyone else finds or has had similar problems, you can report them to the IRS Website Support Team at:
1-800-876-1715, Monday through Friday, 8:00 a.m. to 8 p.m. Eastern Standard Time

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