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Sovcit is gonna send the CEO the forms. (lemmy.world)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] [email protected] 15 points 6 months ago (2 children)

Are those the "special" forms that allow you to not pay taxes I hear SovCits talk about?

[–] [email protected] 14 points 6 months ago

It's not taxes this time.

Form 1099-A is acquisition or abandonment of secured property. Form 1099-C is cancellation of debt.

I suppose the idea is to have the bank remove the security in his truck and cancel the debt too. It would be nice to know why he thinks the bank CEO would sign these forms.

[–] [email protected] 11 points 6 months ago

Yes that's them. The 1099a accesses the secret trust the government holds in your name worth 2 million dollars.