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IRS to "STEAL" almost 1/2 of 10 million dollar gold coin found on couples own land!

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posted on Feb, 27 2014 @ 08:28 PM
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reply to post by dragonridr
 


Agree on that. What they should have said is that it had been in the family, handed down over the years. The liability would have been on people no longer alive, and they would certainly pay something, but not half.




posted on Feb, 27 2014 @ 08:29 PM
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dragonridr
reply to post by wulff
 



Should have hired an accountant or a tax attorney he would have saved them alot of money. If you win the lottery thats the first thing you do is find a great accountant to lower your tax liabilities.


in a lottery they take taxes off the top if you take a lump sum, which is probably the best way to do it. if you take payments you have to pay yearly income tax.




If you take the lump sum, all your taxes are paid out at once which may seem like a rough deal. But there's a good chance you'll pay less in taxes overall than you would with annual installments. If You Win Powerball Jackpot, IRS Wins Too


not a real good source but it was fast.



posted on Feb, 27 2014 @ 08:32 PM
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The IRS should be abolished. They are nothing but the strong arm for the Federal Reserve, and equally as private a corporation. This nation was founded due to the outrageous taxation they were facing. And here we are again.. facing the same thing.

Income Tax
Sales Tax
Property Tax
School Tax
Gas Tax
Cigarette Tax
etc etc etc etc

Where does it end? I don't have a problem with sales tax and the like... but I think INCOME TAX should be removed. The money "I" work for should be mine.



posted on Feb, 27 2014 @ 08:32 PM
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reply to post by wulff
 


Sounds to me like they need to quietly sell all their assests and move to argentina.



posted on Feb, 27 2014 @ 08:42 PM
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EmpathicBandit
That seems like a ludicrous amount to take from a "treasure" find, but I suppose it compares to the taxation of lottery as well if I'm not mistaken?

Given the rarity of these coins, I think it would not take long for some kind of authority to catch onto them being sold no matter how slowly. The gold itself is not worth as much as the mint condition of the coins, so to sell them to any collector or through auction would certainly raise eyebrows before too long; even if only from other people interested in buying. Any attention to that sort of activity would be bad attention. I'm sure there is some sort of punishment for hiding a taxable treasure find somewhat like tax evasion..

While I agree that they should have just kept the coins and at least sat on them or passed them onto their kids or something, but if they were, like many are, in a tight spot financially, this was likely the most they would have gotten from them in the shortest time. Even the lowest % mentioned of 6% is a $600,000 payout - significantly greater than accumulating more debt in the near future.

So, while we can all sit here and say this and that (which again, I do agree, they should have sat on them) we can't begin to imagine the situation that this "anonymous" couple is really in.

Pretty well everyone knows the IRS steals from you unrelentingly, its nothing new.

Personally, I would have melted them down and stored the raw gold.

and you would have lost millions and destroyed a historical treasure. dalonegah georgia minted coins are worth millions of times thier gold content. all old gold coins are worth far more than thier gold content.

see here is the thing even if the govt was right in any claims that say a bandit stolen payroll from the 1800s was thiers they would never recover it on thier own. they never send out searchers to recover old lost treasures. there are at least two butterfield overland stage payroll robbery stashes in the guadalupe mountains in a national park. there is also a legendary lost gold mine there. so govt property and on govt property. but absent some civilian finding it the treasure will never be recovered. on top of that usually such searches are illegal by themselves. so the gold is effectively gone for ever if federal law is followed. it's ridiculous. there is 4 gunpowder barrels full of gold coins somewhere along the blue river a few miles northwest of here. it was stolen by bandits from the union forces and then the bandits got killed by confederate allied indians except one survivor who lingered long enough to tell the tale before expiring. there aren't any government locators trying to recover it. there never will be. yet if it is recovered the government may take not "just" 47 percent of it but claim all of it even though they would do nothing to find it themselves and it is not on government property in this case.
edit on 27-2-2014 by stormbringer1701 because: (no reason given)



posted on Feb, 27 2014 @ 08:47 PM
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They are stupid to announced they found gold. The treasury can confiscate all gold.



posted on Feb, 27 2014 @ 08:52 PM
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This is an awesome lesson on what NOT to do. Would I feel some kid of shame for not reporting it? Not one bit. Nor do I believe the law is the "right" thing in this case. It is simply a matter of shaking down yet another citizen. No Kool AId for me, thank you.



posted on Feb, 27 2014 @ 08:57 PM
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reply to post by stormbringer1701
 


I certainly see your point and am aware of the difference in value, but it makes no difference to me what is on the coin or where it came from; I would be dealing with raw precious metals, the only real currency.

As many people here have stated, one would be a fool to come public with such a find.

If I remember correctly the value of the gold in weight was around 20k? a far cry from 10M but still not a bad haul that will definitely attract less attention from anywhere if you were to sell them..

Better yet, melt half and store or sell them, pass the remainder of the most valuable coins down to your family so they can legitimately claim ignorance and say they were passed down. The coins have waited so long already, surely one more generation isn't out of the question.


yet if it is recovered the government may take not "just" 47 percent of it but claim all of it even though they would do nothing to find it themselves and it is not on government property in this case.


hence, my answer to the OP and above.



posted on Feb, 27 2014 @ 09:09 PM
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mysterioustranger
reply to post by wulff
 

Ok...Ill ask it. Do they own the MINERAL rights to the land BELOW ground?

There are lots of cases where you can put a house, barn, treehouse, store...whatever on land you buy to own....but the GOVERNMENT owns the mineral rights below ground. Happens all the time.



In California, don't the mineral rights run with the land (until sold by a previous private owner)?

Besides, this is not naturally occuring gold, this is private property that was attached to real estate as a fixture much like planting a tree, which is also a fixture as opposed to an emblement.

Too bad they told everyone where they got it.

If they claimed they inherited it passed down for centuries (in a way, that is how they came upon it), and did the smart thing of getting out of the God-forsaken US with it, would they be taxed, anyway?



posted on Feb, 27 2014 @ 09:12 PM
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IF you have a windfall, don't say anything. Re-bury it, then find a good lawyer. Have him set up the "Bland Name Family Trust." But use your mom's maiden name, so the legal entity isn't so easy to trace back to you. Set it up so that it liquidates any assets bequeathed to it, and pays your family the money over 30 years or so. Also name some beneficiaries that are not related closely to you, and live in a different state. 3 college friends to each receive 2% of the payout each year. The lawyer will tell you how to transfer the loot to the trust without paying any taxes in.

That way, you can set up your primary residence (homestead) in a state with no income tax ( Texas, Florida, Wyoming, etc.). You can use your old house as a 'vacation home' if you want.

The reason for including some people who are dna-and-geography distant from you is that if creditors (or the IRS) want to attack your trust, they will have to attack every single beneficiary, and do so in different states, which exponentially increases the cost of suing the trust. Even a "mere 2%" of 10 million is still $200,000-- well worth your college friends hiring their own lawyers and having a go at the IRS.

You'll still owe annual taxes on the yearly distribution of benefits, but probably at a far lower rate that the top tax rate of 39.9%


The difference will be huge. As in, paying 40 percent versus paying 18 percent.

And, you remain anonymous. I guarantee you that treasure hunters are already down at the county clerk's office, trying to figure out which part of their property the stuff was found on. As soon as it warms up, there will be so many flashlights down there in the woods at night that it will look like a million fireflies.

But if you used your Mom's maiden name, Nobody has any idea that the "Trotsky Family Trust" is tied to you and your particular trailer home. And the best security of all is to seem to be a nobody.



posted on Feb, 27 2014 @ 09:13 PM
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reply to post by Aleister
 


which makes me wonder..what if you found some kind of problem on your property..does the irs pay for half of it to fix it? Anyone remember the movie funny farm? I can't find the Claude Musselman scene hahaha



posted on Feb, 27 2014 @ 09:15 PM
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They should pay taxes on the face value of the coins. They have no value other than that unless you sell them. It is like an investment, when you sell them you pay the tax. The price of gold fluctuates, they may be worth less if the price drops. They need to make a deal with the government, they probably have more gold there than is in Fort Knox....maybe the government wants the coins so restock Fort Knox. All those guards being paid to guard an empty building.



posted on Feb, 27 2014 @ 09:16 PM
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if i find those 4 gunpowder barrels i ain't melting them down. they don't have serial numbers. some of them will be sold. "having found them in an old dresser i bought at a flea market" or something. at the same time it will be a hard target to find.

"in a cave on the blue river" the part of the blue i am near is not in a type of bedrock likely to have caves though conceivably it could be an underminement of a bank. the limestone is farther north from here and that is cave forming material. though overtime the beds of rivers and tributaries shift and sediment buries the floors even of dry caves. also most of the access is private property.

the stage boxes and fabled mine are easier targets. for the stagecoach boxes there were landmarks such as springs and hill tops and distances given and for the mine there is a singular description of the entrance that should be locatable when imaged at usable resolution scale by google maps within a few years. the peculiar canyon described should be easily identifiable.



posted on Feb, 27 2014 @ 09:17 PM
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The Brits have pretty well defined defined laws on the discovery of treasure troves. I'd be interested in that perspective. That aside...'theft' is mere hyperbole. Any income has a tax rate. Keeping your mouth shut about your score? Sounds good, but any large amount of gold hits the marketplace and it leaves a ripple.



posted on Feb, 27 2014 @ 09:23 PM
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And what if the gold happens to go lost or stolen?

You know what Uncle Sam is hungry for all that money for right folks? Same as your taxdollars, to wipe out nations of people, with

(and whatever's left over, goes to banksters)



posted on Feb, 27 2014 @ 09:31 PM
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JohnnyCanuck
The Brits have pretty well defined defined laws on the discovery of treasure troves. I'd be interested in that perspective. That aside...'theft' is mere hyperbole. Any income has a tax rate. Keeping your mouth shut about your score? Sounds good, but any large amount of gold hits the marketplace and it leaves a ripple.


actually tax depends. if you find raw gold rather than worked gold such as jewelry or coins it cannot be taxed in the united states until it is sold or refined. i gathered over an ounce of raw gold and it was sheltered until I sold it to a refiner. and some raw gold is 22 or even 23 carats pure. notably Dalonegah Georgia gold. thats part of why Dalonegah minted coins are so valuable. it comes out of the ground or river pure enough to meet mint standards as .999 fine. Oklahoma elemental gold as opposed to Oklahoma sylvanite-gold and some California and Alaska gold is also that pure.



posted on Feb, 27 2014 @ 09:33 PM
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charlyv I do not think for a minute that they have revealed all that they have, would you?


Yes I think they disclosed all because they wanted to sell all and get as much cash for all the coins and move on.

Its not the amount they disclosed, but their being totally honest to a totally dishonest government that is killing people worldwide with every penny they get their hands on?

I mean, if the number of dollars you have in your savings account meant how many people will be shot dead in the room, would you really share that double or triple figure?



posted on Feb, 27 2014 @ 09:33 PM
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charlyv I do not think for a minute that they have revealed all that they have, would you?


Yes I think they disclosed all because they wanted to sell all and get as much cash for all the coins and move on.

Its not the amount they disclosed, but their being totally honest to a totally dishonest government that is killing people worldwide with every penny they get their hands on?

I mean, if the number of dollars you have in your savings account meant how many people will be shot dead in the room, would you really share that double or triple figure?



posted on Feb, 27 2014 @ 09:36 PM
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rickymouse
They should pay taxes on the face value of the coins. They have no value other than that unless you sell them. It is like an investment, when you sell them you pay the tax. The price of gold fluctuates, they may be worth less if the price drops. They need to make a deal with the government, they probably have more gold there than is in Fort Knox....maybe the government wants the coins so restock Fort Knox. All those guards being paid to guard an empty building.
all i know is the fed gov tends to put military installations and national parks or other off limits areas on places where there are legendary treasures such as at yuma. the guadalupe mountains and so forth. and the states tend to build dams and make reservoirs, state parks and wildlife refuges on the same sorts of places. bastiges.
edit on 27-2-2014 by stormbringer1701 because: (no reason given)



posted on Feb, 27 2014 @ 09:50 PM
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off-topic post removed to prevent thread-drift


 



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