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Old 01-28-2008, 07:47 PM  
L-Pink
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Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,151
Quote:
Originally Posted by IllTestYourGirls View Post
many will over look this post but if you are in the USA this is the only way it works for many reasons. I dont care if you believe me or not

when you cash/deposit a check sign the back this way:
"Redeemed in lawful money pursuant to Title 12 U.S.C. §411"
or

"Deposited for credit on account or exchanged for non-negotiable Federal Reserve Notes of face value"

it basically means you are depositing your check for credit thus depositing your check is not a taxable event. Or if you are cashing your check you are asking for public money and public money is not taxable.

I am not a lawyer and this is not legal advice in anyway. Ask your tax LAWYERS not CPA for further advice.


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