You purchased the IQD in hopes of it revaluing and you becoming wealthy. It is more than having money to be wealthy. The wealthy do not pay taxes they don’t have to pay and if there is a way of legally reducing that burden, they are going to take it. Isn’t it time you started thinking like the wealthy?
Today, the holders of these and other under-valued currencies are eagerly awaiting the announcement of revaluations which would make them immensely wealthy. That is a wonderful anticipation to have, but is that the end of the story? Not if you are a resident of the United States of America. In the USA we have something called the Internal Revenue Code (“IRC”), which provides for taxes on various types of activities that generate something called ‘income”, not to mention on other activities and events such as duties on the importation of or bringing property into the country, tariffs, passing estates, tobacco and alcohol sales and manufacture and many others.
Read more