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<p>[QUOTE=&quot;Owle, post: 933363, member: 22004&quot;]It is important to play by the rules when it comes to taxes.&nbsp; I seriously doubt the IRS has the manpower, the computers, or the will to pursue those buying and selling rare coins or bullion.&nbsp; They don&#039;t generally know basis.&nbsp; As has been pointed out, if you are driving a Rolls Royce and living in palatial spendor with a wife that looks like a Sports Illustrated model, you cannot be declaring a less than upper class income.&nbsp; The IRS is not impressed by five and six figure incomes unless something jumps out in terms of anomolies or surprizes.&nbsp; The state DRS has active programs however and can make an example of people who try to avoid taxes.&nbsp; I have met a number of people at coin shows who have had tax troubles, whose ex-wife turned them in or who moved to Florida thinking it would be a good tax haven state.&nbsp; One self-employed fellow said he called up the IRS to complain about the torture he was being put through.&nbsp; &quot;You&#039;re making my life miserable&quot;, he said. &quot;That&#039;s how I get out of this cubicle&quot;, said the IRS worker. </p><p>&nbsp;</p><p>Keep all your records, as I do, so that if you get called for an audit you have a sufficient defense.&nbsp; Here in the Constitution State, where Irwin Schiff worked as an insurance salesman before trying to sell the &quot;zero&quot; income return to countless thousands of tax protestors and ending up in federal prison for the rest of his life, the state and federal government is particularly tough. Just check out the US Attorney website for this and your own state to see all the people nailed for tax issues.[/QUOTE]</p><p><br /></p>

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