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Good guy government. "Hey, thats half ours now you lowly pukes!!"
Work hard, luck out, find treasure on your own property, doesnt matter. The government gets to take what they feel is rightfully theirs. I hate the government more and more. The forceful over reaching hand that gets to take and then spend wildly. All the while, the elitists in DC are over paid and get the best benefits and whatnot as our expense.
I swear, the Founding Fathers would be rolling in their graves to see what's become of Government. Government is now everything that they feared. Overly powerful elitist jerks. And we as a people stand by and just laugh or shrug. We are pathetic as a whole.
They should be able to claim it at face value, which would be far less.
Hell, if I were them, I wouldnt of reported it. Just cash out a little bit at a time over time.
The problem is that you needed to cash out super discreetly, because the treasure included rare finds. Word would've gotten around pretty quickly. In fact IIRC that's actually what happened.
Theblaze is not credible. Guess what tax law is quite clear. It's been clear for over a 100 years on the subject if you find such treasure on your land. You owe taxes on it.
Oh btw the elitists you are talking about Glenda Beck of the Blaze is one of them as are the rest of the Republicans.
"In a famous 1969 decision, a U.S. District Court in Ohio ruled that a "treasure trove" is taxable the year it is discovered. In that case, Cesarini vs. United States, a couple bought a used piano in 1957 for about $15. In 1964, they found $4,467 in old currency inside it."
Next folks who find treasure will only "discover" a little bit at a time. This assures a steady stream of lower tax income. Better yet exchange for bitcoins and be done with the tax man altogether.
Theblaze is not credible. Guess what tax law is quite clear. It's been clear for over a 100 years on the subject if you find such treasure on your land. You owe taxes on it.
Oh btw the elitists you are talking about Glenda Beck of the Blaze is one of them as are the rest of the Republicans.
"In a famous 1969 decision, a U.S. District Court in Ohio ruled that a "treasure trove" is taxable the year it is discovered. In that case, Cesarini vs. United States, a couple bought a used piano in 1957 for about $15. In 1964, they found $4,467 in old currency inside it."
Please provide something in their post that is wrong. What I wrote was MY opinion. I LINKED to the article.
You site a government court ruling. Am I supposed to be impressed? The government agrees that it gets to take? Shocker
Probably smarter to 'find' 200k in gold coins per year.
I'm glad it's out there in the news. It creates a sort of public service announcement to allow the next person who finds treasure to stay one step ahead of the IRS. Plus, it disciplines them not to blow their stash so quickly. Win-win for everyone.
They only get taxed if they sell them - then it is considered part of taxable income.
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