tax IRSThe IRS refused to believe Vocatura’s Bakery was operating on the up and up.   Agents said the business raised red flags because of a series of cash deposits in sums under $10,000, the amount at which banks are required to report transactions to the federal government. They said this behavior was consistent with a crime known as structuring, which the IRS defines as making calculated financial transactions in order to skirt reporting requirements. The agents had no evidence of other wrongdoing, but thanks to a controversial law enforcement tool known as civil asset forfeiture, they didn’t need any to seize every penny in the Vocaturas’ bank account: $68,382.22…

The IRS. There are few agencies more hated, corrupt, and degraded in the entire nation, and that’s saying a lot.
Unless you have been living under a rock for the past couple of years, you are well aware of the fact that the IRS was caught consistently abusing its extraordinary power in order to selectively target groups with which leadership disagreed with politically.
So with the scandal now behind the IRS, and nobody held accountable as usual, at least we can rest assured that the tax agency has finally gotten its priorities straight.
Clearly one of the biggest cancers plaguing society is that fact that some plebs out there still work for employers willing to provide them with a free lunch. I think we can all agree with the IRS that this sort of behavior is akin to domestic terrorism, and something must be done about it.  You know, like the IRS getting its cut.

BitConThe U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.
Today’s IRS guidance will provide certainty for investors, along with potential income-tax liability. Under the ruling, purchasing a $2 cup of coffee with Bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of income for the coffee shop.
The IRS, faced with a choice of treating Bitcoins like currency or property, chose property.

I am not surprised by the ruling because it positions the IRS to gain as much as possible from early adopters sitting on huge gains. On the other hand, it may also encourage some people to spend their BTC “off the books.” Finally, it creates a gigantic pain in the a** for people spending BTC, particularly in years past.

Ann Barnhardt, who last summer warned SD readers that “If you’re still in these markets you’re either stupid or on drugs!” before the first sign of bail-in risk to depositors emerged in Western markets is back with another explosive interview with Elijah Johnson.
In the wake of the recent IRS scandal targeting tea-party groups, Barnhardt discusses her tax revolt against the IRS, declares a federal tax strike, and promotes an idea Ron Paul has promoted for years: Abolish the IRS!

Bernard von NotHaus faces up to 20 years in prison for his ‘conviction’ of the crime of minting $60 million worth of constitutionally legal private silver coins.   Naturally, since von NotHaus made the mistake of minting the word dollar on the coins, the Feds threw the book at him, confiscated the phyzz, and labeled the patriot a ‘domestic terrorist’.

Ahead of von NotHaus’ sentencing, the NY Times examines the man, his mission to combat currency devaluation with precious metals, and the authoritarian state that cannot allow any alternative to it’s enslaving fiat debt currency.