Thread: New Info....for anything here. Taxes, Chit-Chat, Whatever.

Originally Posted by rvalreadydang

I"ve read those posts too, 25,000 note is legal tender as legal as the smaller notes, if they plan to phase them out (like the us and the 1,000 notes) i'm pretty sure they will be accepted and kept out of circulation but not refused.

Yepper

Originally Posted by rvalreadydang

I"ve read those posts too, 25,000 note is legal tender as legal as the smaller notes, if they plan to phase them out (like the us and the 1,000 notes) i'm pretty sure they will be accepted and kept out of circulation but not refused.

Upon the RV, you may see two things:

• The CBI will not recycle the 25K notes as they removed them.
• A forced time limit upon being able to redeem the IQD 25K notes.

The down side to a time limit is that we could be forced to redeem IQD before their true value is obtained causing us to lose large sums of money.

DesertWolf

Originally Posted by DesertWolf

Upon the RV, you may see two things:

• The CBI will not recycle the 25K notes as they removed them.
• A forced time limit upon being able to redeem the IQD 25K notes.

The down side to a time limit is that we could be forced to redeem IQD before their true value is obtained causing us to lose large sums of money.

DesertWolf

couldnt we trade it in for smaller Denoms?

Originally Posted by Spoiledred

couldnt we trade it in for smaller Denoms?

I can see the U.S. Banking system exchanging your IQD for green backs. However, I don’t really see them exchanging your IQD for IQD and I don’t see them opening an account based solely on the IQD to allow you to do exchanges as the value changes.

Now if they did, the IRS would love to have you do this. As your IQD changed in value, you become libel for the taxes now, not when you exchange for green backs! I bet that there is a special IRS Enforcement Squad just biting and chomping at the bit while peeing their pants over this one!


DesertWolf

How about exchange 1 25,000 note to start with, get a round-trip ticket to Arbil and change the rest for lower denoms?

So We Will Be Able To Trade In The 25k Notes When They Rv, But We Will Just Have A Short Time Frame To Do It, Correct?

Originally Posted by IQDRV

So We Will Be Able To Trade In The 25k Notes When They Rv, But We Will Just Have A Short Time Frame To Do It, Correct?

Thats what it looks like they are saying! I like the idea of taking a trip that way, stopoff in Switzerland on the way home

I own millions and half of what i own is 25k notes and others are either 50, 250, 500 and 1000. I am planning to switch my higher notes to Euro when it RV.

Sorry Guys, but U.S. Custom Regulations make it a Federal Offence to NOT declare that your are leaving the U.S. with $5,000 in value of currency. This also includes the IQD. As such you have laid the foundation for the IRS to climb into your shorts for NON-PAID Taxes over your IQD income.

Before you think of not declaring the IQD, if you are caught (and you will be) the U.S. Custom Laws allow for the confiscation of ALL your IQD and cash over $5,000 without warrant and you can NEVER get it back!

DesertWolf

Originally Posted by DesertWolf

Sorry Guys, but U.S. Custom Regulations make it a Federal Offence to NOT declare that your are leaving the U.S. with $5,000 in value of currency. This also includes the IQD. As such you have laid the foundation for the IRS to climb into your shorts for NON-PAID Taxes over your IQD income.

Before you think of not declaring the IQD, if you are caught (and you will be) the U.S. Custom Laws allow for the confiscation of ALL your IQD and cash over $5,000 without warrant and you can NEVER get it back!

DesertWolf

YOU ALL BE SURE TO LET US KNOW HOW THAT WORKS OUT FOR YA!