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WOO HOO! :wubu: :wubu: :wubu:

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Don, you could saved yourself a buncha work if you'd just found a single 300 gram nugget...Guess you like to do it the hard way!!! :icon_mrgreen: :laught16: ...That's freakin' awesome...WTG...Cheers, Unc

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DON, that what I call OKIE STIMULUS, a good Okie post gold he found, and stimulates the rest of us to get off our ass and go find some! :laught16: :whoopie: Grubstake

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Ron...why didn't I think of that...I like your thinking but then again beeping is fun too...

the only thing I had black for a back ground was that plastic garbage bag...better than the

rusty floor of the Toyota....

Hi grubby...actually my stimulus was thinking about that cold beer waiting for me in town...

The President here in Brazil just released his stimulus pkg....since the vehicle industry here is

also hurting he just declared that anybody who buys a new car...pickup...truck or motor cycle

doesn't have to pay any taxes on it...people here are going crazy...borrowing money to buy new

vehicles...kinda makes sense to me.....

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:icon_mrgreen: RIGHTEOUS FINDS !!!!!!!!! Getting patched up again by the MDs for another 50+ years a mining myself too--no pain--no gain--tons a a au 2 u 2-John :innocent0009:

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I plumb forgot about the thread that John B. started Jan.12...you know the one about who could

be looking in on us here...I just happened to think about those good folks at the IRS...surely

they have more to to do this time of year than waste their time and our tax money looking in

on forums....but just in case some youngin is trying to climb the ladder of promotions I'll just

remind everyone that the gold pics I post could be mine or it could be a friends that loaned it to

me to take the pics since I've told everyone here how you folks there in the USA like to see

stuff like that....

post-300-1238428769_thumb.jpg

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  • 2 weeks later...

Not much to worry about, garimpo. Those good folks at the IRS keep score by the amount of unpaid tax they detect and collect. The little gold nuggets we find and photograph are not just small beans to the IRS, they are tiny, tiny beans. They can find and collect more unpaid taxes in five minutes by using a computer to find mismatches in some bankers reported income than they could find in years of trying to trace the ownership and reporting of the nuggets found around here. They won't be earning any promotions by peeping in on this site!

Nice haul, by the way!

I plumb forgot about the thread that John B. started Jan.12...you know the one about who could

be looking in on us here...I just happened to think about those good folks at the IRS...surely

they have more to to do this time of year than waste their time and our tax money looking in

on forums....but just in case some youngin is trying to climb the ladder of promotions I'll just

remind everyone that the gold pics I post could be mine or it could be a friends that loaned it to

me to take the pics since I've told everyone here how you folks there in the USA like to see

stuff like that....

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Not much to worry about, garimpo. Those good folks at the IRS keep score by the amount of unpaid tax they detect and collect. The little gold nuggets we find and photograph are not just small beans to the IRS, they are tiny, tiny beans. They can find and collect more unpaid taxes in five minutes by using a computer to find mismatches in some bankers reported income than they could find in years of trying to trace the ownership and reporting of the nuggets found around here. They won't be earning any promotions by peeping in on this site!

Nice haul, by the way!

Wecome from the standpoint of your first post to the forum. Considering what you make mention to under an older thread title I would be very interested if you could embellish your comment a bit more with more info on the "tiny beans", "mismatches" ect.!

I'm not trying to "dis" you 'gcowboy' tell us more from your standpoint.....please!

Gary

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Wecome from the standpoint of your first post to the forum. Considering what you make mention to under an older thread title I would be very interested if you could embellish your comment a bit more with more info on the "tiny beans", "mismatches" ect.!

I'm not trying to "dis" you 'gcowboy' tell us more from your standpoint.....please!

Gary

Odd, I didn't realize that was my first post on this forum. I've been registered and reading the forums here for over a year. I'm not normally the lurker type, but I guess I haven't had much time to hunt, nor any finds to report. Sadly, I don't live in good nugget hunting country. I live vicariously through you lot!

Anyway, thanks for the welcome. And on to the subject at hand.

The IRS tends to use the principal of "matching" as their primary means of detecting tax fraud and other underpayments. By "matching" I mean that they use computers to check their records against returns that are selected for audit, and see whether, for instance, they have records of reported income (like a 1099 from a bank, reporting that the bank paid you interest on a deposit) but they see no matching line item on your tax return, reporting (and paying tax) on that 1099 income. The IRS agents who audit returns can find these mismatches very easily, and raise the issue in an audit with a very good chance of collecting on the underpayment. They have, after all, documentary evidence of the income you didn't report, before they even contact you with a notice of audit. They can find the mismatch in no time, by punching a few buttons.

Consider, on the other hand, what they would have to go through to find that you did not report as income the value of the gold nuggets you find. They would have to spend hours searching internet forums, and figuring out who you are. As Garimpo's post above suggests, they would have to determine whether you were documenting a real find here, or taking credit for a friend's find, or making it up entirely. They may find, once they determine who Gary GotGold is and they pull up his return, that he already reported the income and paid the tax on it. They could waste many hours chasing dead ends, and have no collected taxes to show for it at the end of the day. Call them lazy, or call them efficient; IRS agents would rather spend their time chasing leads that are likely to result in collections, with the minimum input of their time.

Let's say Garimpo was a US citizen. Let's say his 300 grams of gold is worth $10,000. His effective tax rate will depend on his other income, of course, but lets say his income, including the gold he found, resulted in an effective tax rate of 25%. The IRS agent would stand to collect $2500 in unpaid taxes, and maybe some interest and penalties, IF they ultimately determine that Garimpo did not pay the tax on his nuggets. They would have to figure out who Garimpo is first, and that wouldn't be easy, since they probably couldn't subpoena the forum or his ISP and force them to reveal his identity. (what probable cause do they have to support the subpoena, unless he pipes right up in this thread and admits he is subject to US income tax and refuses to pay it?) Is the IRS really going to spend hundreds or even tens of man hours to collect $2500 in unpaid taxes? Don't believe it for a minute. They can find larger underpayments than that in seconds by turning to their pile of returns under audit and punching a few buttons. Our tax code is complicated, and our country is full of tax cheats, particularly at the upper end of the income distribution. That pile of returns is full of large inadvertent underpayments and some huge tax frauds, and they are easy for the IRS to find and collect. The IRS is not going to waste their time hanging around on this forum looking for unreported nuggets.

Not that I'm encouraging anyone to cheat on their taxes, just because it would be difficult for the IRS to detect. Our tax system only works because the great majority of citizens pay their taxes voluntarily. I enjoy the substantial benefits of living in this country, and I want its system of finance to go on working.

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o que é ouro impostos ... .. eu não tenho nenhum ouro .... faço inventar histórias ... eu não tenho nenhuma stinking cartão verde ....

English: what is taxes...gold..I don't have no gold....I make up stories...I don't have no stinking green card....

Thanks for that great post qcowboy.....tax attorney or IRS agent?.....my English ok huh?.....

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ty qcowboy, i think i know now why i'm so quiet on these forums, one minute u can be talking about finding gold & how much fun it was & the next minute it either gets very political & u have to defend yourself on this that or the other... can we all just find gold & be very &%(*#@%^ 0) happy?? & isn't there a political section to this forum ? & dont get me wrong I love (almost) all of u no matter what your view is. but I'm here to learn about prospecting, nugget shooting etc. please let me know if i'm in the wrong room. yo garimpo congrats on your finds dont worry too much about the u.s. goverment coming after u. I'm sure ur tembling in your boots over it. :Huh_anim]: :confused0013:

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o que é ouro impostos ... .. eu não tenho nenhum ouro .... faço inventar histórias ... eu não tenho nenhuma stinking cartão verde ....

English: what is taxes...gold..I don't have no gold....I make up stories...I don't have no stinking green card....

Thanks for that great post qcowboy.....tax attorney or IRS agent?.....my English ok huh?.....

Garimpo,

Now that's funny! :laught16: My coffee almost made it out my nose.

Tony Teixeira

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Love to learn stuff off the forum... looks like stinking is the same in English as Portuguese

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