When my dad passed away in the middle of a month, Social Security hounded my mom for his month's payment since he didn't live the whole month. So she sent them a check for the overpayment. They cashed the check, only they added a zero to the amount, so they took out 10,000 out of her bank account instead of 1,000. Took awhile to get the 9,000 back.
I'm sorry ya'll. My memory is bad. It was probably a smaller amount, like 3000 or 6000 or something--how much was Soc Security in 2005? But they added a zero and put a big dent in my mom's finances and it was a pain in the *** to get back.
GEOTUS had to leave politics to get back on the list. Yeah, I know he didn’t really leave, but he actually lost net worth while in office. Probably the first to have that happen.
Okay, I'm apparently not seeing what you're seeing. I don't think it means someone rich gave a gift to the Treasury. I think it means someone rich gave a very large gift to someone (relative, friend, etc.) and thus had to pay taxes on this gift. This is a way to prevent someone from giving money to someone else with the intention of avoiding/lowering their own taxes.
The IRS has a stamp that big time drug dealers can buy to pay their taxes anonymously. Perhaps this?
Edited to add that this may have been Pfizer paying their taxes on their profits from vaccine. Or a collective from a whole lot of different entities, that US Treasury shrouding. Like since when has the government told the truth? Why make such an announcement?
A Billionaire no one’s heard of would suggest someone clever enough to keep themselves out of media coverage. And probably paying bribes to keep themselves off the lists that get published of wealthy Americans.
I’d suggest possibly an East Coast Old Money family. They’d have had the opportunity to build up a sum like that with clever investments. And if they had played their cards right most of the country at large would have absolutely no idea who they were or only know them as a fairly wealthy family who may have been influential at one point.
Though such a large financial sum in tax would at least to me suggest an Estate liquidation. As opposed to an unknown person inheriting physical assets combined with a variable sum of money.
Thought I would write them and check and label it as such.....oh boy wait till they get the returned fees for that stop payment......hahaha!!! Just joking!!!! :)
Estate tax returns are due 9 months after death, although an extension of six months can be filed. Not sure if the CV debacle delayed any of that, but it gives a rough time-line in which to look.
Current estate tax exemption is a little over $12M but with unlimited marital deduction, that brings it up to $24M. This is critical to consider IMHO because the person who died may have been the spouse and may not have been as high profile - the billionaire in name may have passed 10 years ago and the spouse kept a low profile.
That is assuming the decedent was a US citizen or had a green card and the tax is 40% above that on all worldwide assets. If it was someone who was not a US citizen but held property in the US, the exemption goes down to $60K but tax is on US assets only. They wouldn't need to be worth $35B. Look for foreign nationals with large US real estate holdings.
There are all kinds of planning techniques using trusts, etc.
It could be insurance proceeds, but planning may also have been "eh, you'll be rich enough" to the kids, or the kids were direct beneficiaries of insurance and therefore did not have to wait for the estate to be settled to receive their inheritance.
List of billionaire deaths in 2022 - unsure if complete. But a start:
Looking at the two lists, if it was an American, I think Sheldon Adelson is a good candidate. He fits the net worth profile as an American. (The return is due 9 months after death, which is basically a valuation of the estate at the date of death. The money due can come afterwards; the IRS has to agree with the numbers, etc.) Plus, the assets might have to be sold. Real estate doesn't turn over in a day.
It could. 9 months was October 2021, and if they got an extension, that would be April 2022. A little far out, but then I have no idea what kind of delays the IRS may have had. The appraisal of properties alone must have been a nightmare with half the world still in some form of lockdown. That year, my MIL had some tax issues that took her accountant seven months to unwind with the IRS. So it would not be surprising if delays were across the board.
You have got to be shitting me?!? You got banned for that??? WTH? That is something you'd expect "them" to do to Kanye West. I have a stockpile of IVM and take it once a month on Full Moon. I've never felt better since I was much younger. I know a dude who takes HCQ for arthritis and it works for him. We are our doctors now.
An individual or group of individuals attempting to send that sum of money to a foreign government currently at war may place the individual or group in the crosshairs for sanctions and or elimination for actively participating in an ongoing war by Ukraine's adversary.
IF the treasury is out of money (completely plausable) or a congressional bill sending that sum of money to Ukraine would be unpopular at best or impossible given our current financial status how would one legally or covertly funnel this money to a foreign state?
Pay or gift it to the treasury and funnel it through diplomatic or governmental channels. I have no doubt that the US government would find sympathetic and or willing participants within the IMF that would ensure that the money is not filtered through the international money laundering checks.
Once again this may lead nowhere but it's plausible this could happen.
Quick. Send it to Ukraine!
LOL.
Did they add a couple zero's?
When my dad passed away in the middle of a month, Social Security hounded my mom for his month's payment since he didn't live the whole month. So she sent them a check for the overpayment. They cashed the check, only they added a zero to the amount, so they took out 10,000 out of her bank account instead of 1,000. Took awhile to get the 9,000 back.
Robbing a widow. They disgust me.
I'm sorry ya'll. My memory is bad. It was probably a smaller amount, like 3000 or 6000 or something--how much was Soc Security in 2005? But they added a zero and put a big dent in my mom's finances and it was a pain in the *** to get back.
A $7B gift to the Treasury? 17%? Ray Madoff? u/LoneWulf what say you? 😆
Actually, it's $7B in taxes owed.
I say that whoever died must have died some time ago. It would have taken a very long time to settle an estate of someone with that much money.
Here's a list of the top 400 from Forbes to get you started:
https://www.forbes.com/forbes-400/
Place your bets.
GEOTUS had to leave politics to get back on the list. Yeah, I know he didn’t really leave, but he actually lost net worth while in office. Probably the first to have that happen.
How do you know for sure it's taxes owed? The article suggests it could have been a gift, and that seems odd.
I was going by the title: US Treasure reveals it received a $7B tax payment (in estate and gift taxes).
If you give someone a gift over a certain amount of money, you have to pay taxes on it.
The article implies that it could have been a gift to the TREASURY. Have you ever heard of such a thing?
Okay, I'm apparently not seeing what you're seeing. I don't think it means someone rich gave a gift to the Treasury. I think it means someone rich gave a very large gift to someone (relative, friend, etc.) and thus had to pay taxes on this gift. This is a way to prevent someone from giving money to someone else with the intention of avoiding/lowering their own taxes.
ohhhh gotcha. At least that makes sense. Weird article, eh?
Yeah. Whatever possessed them to go digging in tax records to find this in the first place??
Spend it quickly... while $7 Billion still has value.
Did George Soros finally go to that "special place" Q said they had picked out for him?
The IRS has a stamp that big time drug dealers can buy to pay their taxes anonymously. Perhaps this?
Edited to add that this may have been Pfizer paying their taxes on their profits from vaccine. Or a collective from a whole lot of different entities, that US Treasury shrouding. Like since when has the government told the truth? Why make such an announcement?
Curious.
A Billionaire no one’s heard of would suggest someone clever enough to keep themselves out of media coverage. And probably paying bribes to keep themselves off the lists that get published of wealthy Americans.
I’d suggest possibly an East Coast Old Money family. They’d have had the opportunity to build up a sum like that with clever investments. And if they had played their cards right most of the country at large would have absolutely no idea who they were or only know them as a fairly wealthy family who may have been influential at one point.
Though such a large financial sum in tax would at least to me suggest an Estate liquidation. As opposed to an unknown person inheriting physical assets combined with a variable sum of money.
I would think that they would also be Clever enough to avoid ever having to pay taxes. So smells like dead fish to me.
Money laundering?
Interesting. Wonder who it was?
Thought I would write them and check and label it as such.....oh boy wait till they get the returned fees for that stop payment......hahaha!!! Just joking!!!! :)
Estate tax returns are due 9 months after death, although an extension of six months can be filed. Not sure if the CV debacle delayed any of that, but it gives a rough time-line in which to look.
Current estate tax exemption is a little over $12M but with unlimited marital deduction, that brings it up to $24M. This is critical to consider IMHO because the person who died may have been the spouse and may not have been as high profile - the billionaire in name may have passed 10 years ago and the spouse kept a low profile.
That is assuming the decedent was a US citizen or had a green card and the tax is 40% above that on all worldwide assets. If it was someone who was not a US citizen but held property in the US, the exemption goes down to $60K but tax is on US assets only. They wouldn't need to be worth $35B. Look for foreign nationals with large US real estate holdings.
There are all kinds of planning techniques using trusts, etc. It could be insurance proceeds, but planning may also have been "eh, you'll be rich enough" to the kids, or the kids were direct beneficiaries of insurance and therefore did not have to wait for the estate to be settled to receive their inheritance.
List of billionaire deaths in 2022 - unsure if complete. But a start:
https://www.forbes.com/sites/conormurray/2022/12/31/the-billionaires-who-died-in-2022/?sh=56d776fe61bf
And 2021:
https://www.forbes.com/sites/rachelsandler/2021/12/31/the-billionaires-who-died-in-2021/?sh=28b24d024798
Looking at the two lists, if it was an American, I think Sheldon Adelson is a good candidate. He fits the net worth profile as an American. (The return is due 9 months after death, which is basically a valuation of the estate at the date of death. The money due can come afterwards; the IRS has to agree with the numbers, etc.) Plus, the assets might have to be sold. Real estate doesn't turn over in a day.
That's my theory.
It could. 9 months was October 2021, and if they got an extension, that would be April 2022. A little far out, but then I have no idea what kind of delays the IRS may have had. The appraisal of properties alone must have been a nightmare with half the world still in some form of lockdown. That year, my MIL had some tax issues that took her accountant seven months to unwind with the IRS. So it would not be surprising if delays were across the board.
That is just Zelenski paying the taxes on his cut of the aid money "The Big Guy" sent.
...annnnnnnnnd it's gone.
I was referring to the IRS and the money. Keep up the great work, 20-gauge. You're one of the MVPs on this site.
You have got to be shitting me?!? You got banned for that??? WTH? That is something you'd expect "them" to do to Kanye West. I have a stockpile of IVM and take it once a month on Full Moon. I've never felt better since I was much younger. I know a dude who takes HCQ for arthritis and it works for him. We are our doctors now.
Nice success story. Great to hear. Take care.
Perhaps the Payseur thing has come to pass.
This may be nothing but may deserve some digging.
A while back Zelenski mentioned he required $7 billion to keep his government afloat.
Routers - Zelenski Needs $7B
An individual or group of individuals attempting to send that sum of money to a foreign government currently at war may place the individual or group in the crosshairs for sanctions and or elimination for actively participating in an ongoing war by Ukraine's adversary.
IF the treasury is out of money (completely plausable) or a congressional bill sending that sum of money to Ukraine would be unpopular at best or impossible given our current financial status how would one legally or covertly funnel this money to a foreign state?
Pay or gift it to the treasury and funnel it through diplomatic or governmental channels. I have no doubt that the US government would find sympathetic and or willing participants within the IMF that would ensure that the money is not filtered through the international money laundering checks.
Once again this may lead nowhere but it's plausible this could happen.