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Originally posted by SloAnPainful
Shoot the gov't are the kings of illegal money. They want all your cash illegal or not. Doesn't suprise me a bit.
personally i love the idea
Now, what is very interesting is how electronic funds factor into this, technically they should only be entitled to a "taste" of the transaction done with a physical dollar, as they "own" those pieces of paper, but do they own the electronic "money" which only uses their "valuation" as a baseline? They'll say yes, but the fact should say no, as their arm extends to Federal Reserve DEBT Notes only and the licensed use of them in all matters related to transactions of value.
“Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.”