Posted on 03/25/2022 10:51:31 AM PDT by nickcarraway
You are right that it is legal to buy a home with cash. But that does not mean the IRS will not figure it out right away and start investigating. They will. The home seller will need to deposit the cash. Need may be a strong word. But 99.9% of all people who get a briefcase full of ten thousand $100 bills will walk to a bank and deposit it. If for no other reasons than for safety and to confirm that the bills are not counterfeit. The bank will be obligated by law to report this to the IRS.
My state, and I figure most or all states will require the deed owner to produce a SSN. If not, then the LLC will have an officer list which will contain the SSN. Anyway there will be some track back to a person who is using a substantial amount of cash. That person will get audited. Additionally the FBI will start to investigate as well.
But don’t worry, this is not what the government will use to track you and find out everything about you. Its your phone that they are currently tracking. They can tell were you have been. Anyone who you hang with or live with because they have phones. And if their phones are in the same location or travel together or spend the night together they can tell. They know your emails and who you call and your social media. So you are known to the FBI if you use your cell. Its even better than your tax return.
i can (sort of) relate to most of that.
the cell phone tracking thing is already in use in TW and (i believe) mainland China.
As for SSN, my secondhand understanding is that it is optional. At least, it is optional for the boomer age crowd and older. IIRC SSNs may be mandatorily assigned by the hospital at birth (presuming it is a hospital birth). It’s difficult to conceive of people not having a SSN although it seems possible. I think they require some sort of substitute number when filing IRS tax returns.
Also there is (or at least was, up through the mid 1990s) the sovereign citizen movement (an entire discussion in itself). Also there was that tennessee guy who claimed that filing tax returns was voluntary and was able to prevail in federal court (he might however have been the only person to succeed since i am aware of no others).
The politician finess, I believe, is to arrange for the transfer of ownership of a property at a nominal sales price of far below the prevailing market value of the property.
The quid pro quo for the crooked politician (but then i repeat myself lol) is influence.
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