Will the IRS parse our annual pocket change next?

They've done it again -- reached yet lower heights of casuistic silliness. The IRS considers frequent flyer miles taxable now!

Well, but, mind you, it's only some such miles. You know, the ones flown by people parting their hair on the right during months with an R in their name...... or as the lawyers and others pharisees have it,

.........Frequent flyer miles and cash back on credit cards have historically been treated as rebates on spending which are not taxed as income. That is likely the type of miles the IRS announcement was referring to. Citibank takes the position that the miles they are taxing are different, the miles were given as a reward/prize for opening a bank account, not as a rebate on spending, and therefore the miles are taxable. (The IRS said earlier this year taxpayers must pay income tax on prizes greater than $600.) However, one news agency refers to a statement by IRS representatives that the 2002 announcement focused on a specific area and does not address the issue Citibank faces. The IRS has not released an official statement on this issue. This may be the beginning of a debate whether these particular frequent flyer miles are taxable. United States Senator Sherrod Brown of Ohio wrote a letter earlier this week that is receiving a lot of attention, urging Citibank to stop treating the miles as income.


http://www.jdsupra.com/post/documentViewer.aspx?fid=df4a12ea-b19f-470b-bfdd-b15103de0bf0&utm_source=digest
Are Frequent Flyer Miles Taxable Income?

Admit it -- this is a crazy level of bean-counting. Like lawyers and Congresscritters don't have enough to do already withou getting into this crapola?

And remember, please, it's all a gigantic hoax. The income tax as we know it is a massive fraud. It has no basis in law and the endless strategems like the above that the goons come up with don't aid in the proper collection of taxes owed -- they help convince the sheeple the whole game has some kind of substance.

Goons are still goons no matter what jive they talk., Sheeple are still sheeple as long as they go on along with it forever. I remember feeling ot too -- the vague sense of wellbeing as you get your tax info together each April, calling the nice people on the helpline for advice on how to do it just right. Ohh, they were so NICE, so benign, so genteel.... were they really goons?

YES. The were GOONS, because they were merely the sweet icing on the mud cake. Psychological gamespersons in service of the most monstrous swindle of history -- the Pseudo-Federal Reserveless System.

In sending this item, the New Great One commented "interesting thought for the day…." To which I'll add "another case for the books..... of how banks are the enemy, as RBC always said."

Personal opinions of the author, namely  /\/.\/\/.