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Cashing out your bullion when its time, tax question ?
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<p>[QUOTE="Nyatii, post: 2744399, member: 85686"]i</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Unless a payment to you is reported to the IRS, you will never hear from them. They don't go looking for things to do. They don't have the time, or money to pursue such things.....Except if they find a special circumstance or high dollar case.</p><p><br /></p><p>So you can go thru life collecting your profit, as long as the person or business doesn't send notification to IRS. The IRS has no way of knowing. And they aren't sneaking around watching everyone.</p><p><br /></p><p>Even if you are reported to CI (Criminal Investigation) there will have to be a certain dollar tolerance for the area to be worth looking at. With that being said, they will look for work during slack times.</p><p><br /></p><p>You will have plenty of notice to pay the extra taxes on the extra income, including penalties/interest before they levy bank accounts/wages, or seize other assets like personal property or businesses.They can shorten the process up if they think they are in jeopardy of loosing the chance at your assets. Otherwise it takes months to go thru the cycles of notices before they can get your goodies.[/QUOTE]</p><p><br /></p>
[QUOTE="Nyatii, post: 2744399, member: 85686"]i Unless a payment to you is reported to the IRS, you will never hear from them. They don't go looking for things to do. They don't have the time, or money to pursue such things.....Except if they find a special circumstance or high dollar case. So you can go thru life collecting your profit, as long as the person or business doesn't send notification to IRS. The IRS has no way of knowing. And they aren't sneaking around watching everyone. Even if you are reported to CI (Criminal Investigation) there will have to be a certain dollar tolerance for the area to be worth looking at. With that being said, they will look for work during slack times. You will have plenty of notice to pay the extra taxes on the extra income, including penalties/interest before they levy bank accounts/wages, or seize other assets like personal property or businesses.They can shorten the process up if they think they are in jeopardy of loosing the chance at your assets. Otherwise it takes months to go thru the cycles of notices before they can get your goodies.[/QUOTE]
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Cashing out your bullion when its time, tax question ?
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