WARNING: As of 2017, the IRS is sending FRIVOLOUS FILING NOTICES to those submitting tax returns that claim lawful money demand reductions.
See https://www.treasury.gov/tigta/auditreports/2016reports/201640069fr.pdf
As far as is known and published, this issue concerning the application of 12 USC 411 in our tax system has not been adjudicated in a court of law.
Until then, we must do what is necessary to survive under the threat, duress, and coercion of penalties.
QUESTION:
Is reporting a negative amount on the "Other Income" Line 21 "frivolous", if it is reporting the total amount of United States notes (USNs) received as income during the tax period?
Remember, Federal Reserve notes are a dual-purpose currency.
See Treasury.gov article entitled:
All during the year we are legitimately presumed to be receiving Federal Reserve notes (FRNs), the default currency in the United States, as income from liability instruments.
But if we have non-hearsay evidence of demanding lawful money (USNs) for all transactions as income from asset instruments, then isn't that to be considered as "Other Income"?
So how would we report that the total amount of that "other income" on a 1040 Form?
Is not Line 21 "Other Income" the best line to use to report this amount?
Did we not receive "other income" besides FRN income?
Now wouldn't that number have to be a NEGATIVE amount in order to reflect the REDEMPTION/DISCHARGE of FRNs, per 12 USC 411 and the intent of Public Law 73-10 (HJR 192 of June 5,1933 as Public Policy)?
FRNs are debt instruments, private credit of the Federal Reserve and obligations of the United States.
USNs are asset instruments, and are not taxable, as they are the public money instruments of the United States government to perform its functions. See M'CULLOCH v. STATE, 17 U.S. 316 (1819).
To redeem/discharge a debt (negative), an asset (positive) is needed.
Isn't -(-1000) = +1000?
A NEGATIVE OF A NEGATIVE NUMBER IS A POSITIVE NUMBER.
A NEGATIVE OF A LIABILITY IS AN ASSET.
Therefore must not a negative FRN amount be used on Line 21 to redeem/cancel the FRN amounts received as income, to be in accord with 12 USC 411 and Public Law 73-10 (Public Policy)?
Isn't our demanded lawful money USN Income "Other Income" that was received during the tax period?
Wouldn't it be wrong to not report this "Other Income"?
Isn't the number NEGATIVE only because it must be negative in order to reflect an ASSET instead of a LIABILITY amount.
And isn't a NEGATIVE amount needed to redeem the presumed FRNs used during that tax period in accord with 12 USC 411 and Public Law 73-10 (Public Policy)?
But this is only theory. It must someday be decided by a court of competent jurisdiction!
AGAIN:
As far as is known and published, this issue concerning the application of 12 USC 411 in our tax system has not been adjudicated in a court of law.
Until then, we must do what is necessary to survive under the threat, duress, and coercion of penalties.
NOTE: These pages are for educational purposes only, and are not meant or to be construed as legal advice.
