Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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Spring Heeled Jack: Feb 25, 2007; If you can read this you can read

Yikes! There's a lot going on there.

# ? Oct 1, 2018 14:52

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# ? Jun 8, 2024 05:14

Volmarias: Dec 31, 2002; EMAIL... THE INTERNET... SEARCH ENGINES...

Lockback posted:

I think my favorite (horrifying) stories are the Bad with Parents money stories. There's always some unreliable narrator stuff going on, but people will always surprise you about how terrible they are to their children!

I think i was tricked by my parents and i can't find a way out! They keep taking all my income.
https://www.reddit.com/r/personalfinance/comments/9k8wcj/i_think_i_was_tricked_by_my_parents_and_i_cant/
(bolding mine)

Bad with money, not sad with family, please.

# ? Oct 1, 2018 15:41

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Volmarias posted:

Bad with money, not sad with family, please.

Seriously. Imagine doing that to your kid on the heels of their first eviction

# ? Oct 1, 2018 15:57

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

I�m saving these to share with my kid when she says I�m being unfair.

# ? Oct 1, 2018 16:05

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

Subjunctive posted:

I’m saving these to share with my kid when she says I’m being unfair.

"Look, I didn't abuse you, so what do you want?"

# ? Oct 1, 2018 18:07

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

therobit posted:

"Look, I didn't abuse you, so what do you want?"

Exactly so. Gotta anchor them early.

# ? Oct 1, 2018 18:09

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

Subjunctive posted:

Exactly so. Gotta anchor them early.

Look at this frostback with his anchor baby.

# ? Oct 1, 2018 18:21

Midjack: Dec 24, 2007

Lockback posted:

I think my favorite (horrifying) stories are the Bad with Parents money stories. There's always some unreliable narrator stuff going on, but people will always surprise you about how terrible they are to their children!

I think i was tricked by my parents and i can't find a way out! They keep taking all my income.
https://www.reddit.com/r/personalfinance/comments/9k8wcj/i_think_i_was_tricked_by_my_parents_and_i_cant/
(bolding mine)

People pay for findom like this!

# ? Oct 1, 2018 19:31

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

therobit posted:

frostback

...

# ? Oct 1, 2018 19:43

Moneyball: Jul 11, 2005; It's a problem you think we need to explain ourselves.

StrangersInTheNight posted:

I mean...I know you're trying to be facetious but you DID learn your family has more resources than many. Maybe ponder on that instead of going WE AIN'T RICH

This isn't true though

# ? Oct 1, 2018 19:44

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

therobit posted:

Look at this frostback with his anchor baby.

Is this a variation on Snow Mexican? I don't like it

# ? Oct 1, 2018 19:45

crazypeltast52: May 5, 2010

GoGoGadgetChris posted:

Is this a variation on Snow Mexican? I don't like it

Canadians coming across the border to buy/steal our cheap dairy products? Or something?

# ? Oct 1, 2018 19:51

Trustworthy: Dec 28, 2004; with catte-like thread
upon our prey we steal

Moneyball posted:

This isn't true though

Darfur war orphan ITT

# ? Oct 1, 2018 21:09

Orange DeviI: Nov 9, 2011; by Hand Knit

Moneyball posted:

This isn't true though

"im not rich! im not rich!!", i continue to insist as i slowly shrink and transform into a tiny serving of beluga caviar

# ? Oct 1, 2018 21:19

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

GoGoGadgetChris posted:

Is this a variation on Snow Mexican? I don't like it

Yes, it is a joke about how nobody complains about or hassles Canadians who come down to the US for work, even though they are far more likely to be taking jobs that Americans actually want to do, because canadians are mostly white.

# ? Oct 1, 2018 21:26

Volmarias: Dec 31, 2002; EMAIL... THE INTERNET... SEARCH ENGINES...

Thanks for that weird racist jump I guess?

:getout:

# ? Oct 1, 2018 22:50

Methanar: Sep 26, 2013; by the sex ghost

I'm canadian and always feel terrible when I read about America First type things.

# ? Oct 1, 2018 22:53

Ixian: Oct 9, 2001; Many machines on Ix....new machines; Pillbug

Volmarias posted:

Thanks for that weird racist jump I guess?

Canadian is a race? I would have gone with "nationalist" myself there.

# ? Oct 1, 2018 23:29

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

I'll have you know some of my best friends are Canadian.

# ? Oct 1, 2018 23:53

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

therobit posted:

I'll have you know some of my best friends are Canadian.

Canadians are a credit to their tundra.

# ? Oct 1, 2018 23:59

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Welcome to ~~NAFTA~~ USMCA!

# ? Oct 2, 2018 00:05

Tomfoolery: Oct 8, 2004

From the r/relationships thread:

Husband (27m) spent my (25f) entire savings without my permission.

quote:

I was recently laid off(end of November ) and I was planning to use my tax return and 401k money to go back to school (about 8000 USD). My husband and I had several conversations about this plan. He said his income alone was enough to cover our monthly expenses and I would not need a job. I could focus on going to school full time using our savings (his 2000 USD plus my 8000 ). I am currently going to a community college, the savings was supposed to be for school expenses and emergencies only.

I let him have complete control over our finances because I feel I am an �overbearing wife� and thought allowing him to have the responsibility would compensate for that. It was foolish, I understand that now, but he had a better history with money and I thought I could trust him better than myself with our money. I only found out the money was gone when I asked about our savings after an emergency involving our water happened. I feel hurt. I told him I want a divorce but my school issues and state law means I�m bound to him for at least another year. I also come from an abusive background and this is bringing up other emotional issues.

I�m sure I spent the money just as much as him but he knew I didn�t know how much money we were blowing through. I very rarely use my card or buy things with out talking with him first. He wants to work through this but we also had infidelity issues (7 and 5 years ago he left me for another woman twice) and I don�t know how many giant gently caress ups I can accept from one person.

TLDR: I am a unemployed student and my husband didn�t tell me the money for school is gone. We already had issues. I�m hurt. I�m confused.

Edit: clarifying what I mean by I spent the money as well is he claims the money all went on going out together. I did expect him to restrict us. He recently got a raise so I thought that was where our �extra� money came from and I gave no second thoughts to it. He paid the restaurant checks (which is the only going out we really did and these were not fancy places but we did eat out frequently, I�d say two to three times a week).

# ? Oct 2, 2018 00:29

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Tomfoolery posted:

From the r/relationships thread:

Husband (27m) spent my (25f) entire savings without my permission.

25f...

"7 ... years ago he left me for another woman ..."

Gross

This girl sounds like a real turd anyway.

Are there really any state laws that require you to remain married for a year before you can divorce? That's insanely stupid.

# ? Oct 2, 2018 00:36

Panfilo: Aug 27, 2011; Can't post for 4 days!

What restaurants take personal checks these days?

# ? Oct 2, 2018 00:44

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Panfilo posted:

What restaurants take personal checks these days?

[hoping I'm not getting owned]

She's saying he paid the bill (also known as "the check") to the restaurants, presumably using cash or a debit/credit card, not that he paid the restaurants using checks

# ? Oct 2, 2018 00:48

Panfilo: Aug 27, 2011; Can't post for 4 days!

Oh, my bad. Just one of those ambiguous sentences that can be misinterpreted. I had somehow assumed he was writing checks in some elaborate way of hiding his spending.

Reddit's version of Occam's Razor is to simply assume the most :psyduck:

scenario is what happened.

# ? Oct 2, 2018 00:51

Ebola Roulette: Sep 13, 2010; No matter what you ~~win~~ ~~lose~~ ragepiss.

GoGoGadgetChris posted:

25f...

"7 ... years ago he left me for another woman ..."

Gross

This girl sounds like a real turd anyway.

Are there really any state laws that require you to remain married for a year before you can divorce? That's insanely stupid.

In NC you have to be separated for a year before you can even file if I recall correctly.

# ? Oct 2, 2018 00:53

Elephanthead: Sep 11, 2008; Toilet Rascal

I am pretty sure Bob Evans takes personal checks still. I swear some old lady in line in front of me was paying with one.

# ? Oct 2, 2018 01:08

Lockback: Sep 3, 2006; All days are nights to see till I see thee; and nights bright days when dreams do show me thee.

Volmarias posted:

Bad with money, not sad with family, please.

How about hilarious self own?
(bolded the best part)

My friend's tax avoidance (probably evasion) scheme (US).

quote:

US - Georgia

I like to think that I am pretty up to date with the latest ways that people try to legally and illegally get out of income taxes, but a friend of a friend recently told me about a tax scheme that I had never heard of before. Guessing he didn't come up with this scheme on his own, I started googling it hoping to find some message board posts or something. So far I have found nothing.

Before I describe the scheme, I just want to say that this person is not a fringe, anti-gov type of character. He's not living in a bunker in fear of the new world order or whatever. He is fairly well educated, with a BS in Economics from a good school. I was very surprised to hear that he is following through with this idea. Last year his gross income was probably between $90k and $100k, and he paid $0 federal income tax. Honestly, I am concerned for him. I like him personally, but I feel like he has steered his family down a very dangerous road.

Description of the scheme:

Friend of a friend has somehow come to the conclusion that he can avoid federal income tax by only dealing only in what he calls "real money" or �legal tender� (as opposed to US Dollars). Last year he opened a new checking account. In opening the account, he filled out the signature card. Rather than signing the signature card with his name, he signed it with something like �any transactions with this account are made in legal tender� (the wording may be slightly different, I am just going from memory). His employer gives him a paper check rather than direct deposit. When he deposits the check, rather than signing his name he signs it as �deposit as legal tender�. He never withdraws cash from the account. He basically lives on his credit card, and pays off his credit card through the checking account�s bill pay feature. He says at this point the bank may choose to pay the bill with US dollars, but the money they withdrew from his account is �legal tender�. According to him, since he never controlled US dollars, the US government cannot tax

END

It all sounds pretty crazy to me. I�ve tried googling phrases like �avoid taxes legal tender� or similar. I am just surprised that I have never heard of this scheme before. Has anyone else? If so, I would appreciate some links to other websites about this particular tax evasion scheme.

EDIT: /u/SoFlaEstatePlanning
commented below with the following link: http://evans-legal.com/dan/tpfaq.html#FRNs . This is pretty much exactly the argument that my friend's friend was making.

Is there a part two?

There's a part two.

quote:

I finally got a chance to catch up with my friend of a friend who decided he didn't have to pay federal income tax because he wasn't being paid in US currency.

When he filed his taxes in April 2017 he claimed that he had no taxable income and actually received a refund from the IRS for the entire amount his employer withheld from his paycheck throughout the year. So obviously he did the same thing with his April 2018 filing. The only problem is it's October 1st, and he still hasn't received a check from the IRS.

Instead, he received a letter from the IRS this summer indicating that they were reviewing his tax return and would be holding on to the refund pending their review. The IRS letter also asked to please follow up with them if he had not heard back from them by a certain date . That seems unusual to me, but then again I have never gotten a naughty letter from the IRS. Anyways that date has come and gone and he does not plan to call them, hoping this whole thing will get forgotten somehow. If it is not forgotten, his plan is two-fold:

#1. Challenge the IRS (in court if necessary) and argue that his income is not taxable.

#2. If a judge sides with the IRS, he can just say "Sorry I was confused and got some bad info online" and just pay the money back and any penalties. He is thinking that the penalties and interest will still be less than the interest he made on his tax refund which he has kept in an index fund over the past year. So his reasoning is that worst case scenario he still comes out on top.

I asked if he's concerned at all about going to prison or significant penalties. He is confident that "no one goes to jail for making a mistake on their taxes" and that the penalties will be small. I don't know where he is getting that information, but I also didn't have any specifics to rebut that line of thought. However I did tell him that it's unlikely that any judge would consider what he's doing as a "mistake".

Anyways, that is the latest I have for now. I don't see this person that often, but hopefully I will have Update #2 in the next few months.

# ? Oct 2, 2018 01:11

George H.W. Cunt: Oct 6, 2010

Ebola Roulette posted:

In NC you have to be separated for a year before you can even file if I recall correctly.

Yup. A dude I met while on the Appalachian Trail was separated from his wife and was from NC. He had a bunch of texts and proof of her infidelity so he said "Pay for my trip or I'll make it ugly for you." She did and was funding his hike for about 3 months. Food, hostels, breweries, etc. He then got off the trail a little before the half way point and tried to lay low for a bit so he could keep the money train going while he looked for a job. He finally got divorced and I guess it went okay but yea it was an awkward talk for someone to be proud of all that.

edit: ^^^^ I really want part 3

George H.W. Cunt fucked around with this message at 01:18 on Oct 2, 2018

# ? Oct 2, 2018 01:11

Lead out in cuffs: Sep 18, 2012; "That's right. We've evolved."

"I can see that. Cool mutations."

Ebola Roulette posted:

In NC you have to be separated for a year before you can even file if I recall correctly.

Same in Canada.

# ? Oct 2, 2018 01:20

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Lockback posted:

How about hilarious self own?
(bolded the best part)

My friend's tax avoidance (probably evasion) scheme (US).

Is there a part two?

There's a part two.

Ohhh boy I can't wait for this clown to get hosed in the rear end by the lawng, lawng dick of the taxman.

# ? Oct 2, 2018 01:21

Lead out in cuffs: Sep 18, 2012; "That's right. We've evolved."

"I can see that. Cool mutations."

Lockback posted:

How about hilarious self own?
(bolded the best part)

My friend's tax avoidance (probably evasion) scheme (US).

Is there a part two?

There's a part two.

It's OK, when the IRS takes him to court, the admiralty flag in the courthouse will mean that only maritime law applies.

# ? Oct 2, 2018 01:24

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

The IRS has always been very nice to me about tax mistakes. Granted, they never caught me trying to steal all the government's tax money I owed. Something tells me he's going to hear an unsettling chuckle when he asks what the damage is and would they take a check. Like I'm pretty sure when you hear Nick Cage or Wesley Snipes owes X millions of dollars...a larger chunk than you'd expect is penalties - and they have good lawyers. It's not going to be covered by whatever his index fund earned.

# ? Oct 2, 2018 01:35

Suspicious Lump: Mar 11, 2004

How does the USA tax man deal with freemen or willful ignorant idiots? Fines + prison or just fine?

# ? Oct 2, 2018 01:36

DarkHorse: Dec 13, 2006; Vroom vroom, BEEP BEEP!; Nap Ghost

EAT FASTER!!!!!! posted:

Ohhh boy I can't wait for this clown to get hosed in the rear end by the lawng, lawng dick of the taxman.

I can't wait for his corporate entity and his natural living person both get sent to prison for being a fuckup

Suspicious Lump posted:

How does the USA tax man deal with freemen or willful ignorant idiots? Fines + prison or just fine?

Depends on how hard they want to push it, but: very yes.

# ? Oct 2, 2018 01:47

Guest2553: Aug 3, 2012

The Something Awful Forums > Discussion > Ask Hell > Bitcoin, Forex, and Candles > #BatWithMoney: "no one goes to jail for making a mistake on their taxes"

# ? Oct 2, 2018 01:49

19 o'clock: Sep 9, 2004; Excelsior!!!

https://www.irs.gov/privacy-disclosure/the-truth-about-frivolous-tax-arguments-section-iii

IRS.GOV posted:

Taxpayers filing returns with frivolous positions may be subject to the accuracy- related penalty under section 6662 (twenty percent of the underpayment attributable to negligence or disregard of rules or regulations), the civil fraud penalty under section 6663 (seventy-five percent of the underpayment attributable to fraud) and the erroneous claim for refund penalty under section 6676 (twenty percent of the excessive amount).

IRS.GOV posted:

Section 6673(a) allows the Tax Court to impose a penalty of up to $25,000 when it appears that:

-a taxpayer instituted or maintained a proceeding primarily for delay,
-a taxpayer�s position in such proceeding is frivolous or groundless, or
-a taxpayer unreasonably failed to pursue administrative remedies

I�m phone posting so not ready to copy and paste too much, but holy gently caress don�t play with the IRS. I mean - these are only a few of the civil penalties. The criminal side makes it extra spicy.

# ? Oct 2, 2018 01:49

19 o'clock: Sep 9, 2004; Excelsior!!!

Guest2553 posted:

The Something Awful Forums > Discussion > Ask Hell > Bitcoin, Forex, and Candles > #BatWithMoney: "no one goes to jail for making a mistake on their taxes"

Happily, that�s largely true. Unfortunately for the dude pulling this ruse, it�s inapplicable.

Eagerly awaiting the thrilling conclusion!

# ? Oct 2, 2018 01:51

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# ? Jun 8, 2024 05:14

FAUXTON: Jun 2, 2005; spero che tu stia bene

19 o'clock posted:

https://www.irs.gov/privacy-disclosure/the-truth-about-frivolous-tax-arguments-section-iii

I’m phone posting so not ready to copy and paste too much, but holy gently caress don’t play with the IRS. I mean - these are only a few of the civil penalties. The criminal side makes it extra spicy.

Financial investigator here seconding that you do not gently caress with the IRS and especially the IRS-CI

but more than both of them you do not under any circumstances gently caress with the USPIS

# ? Oct 2, 2018 01:52

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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