The Tax Code and the 1099OID

This is the email I received from a friend in a Tax Group I belong to. This is one of the systems that is being used, within the Law, and is successful in educating people on the I.R.S. the Rules and the Law.

How many of you would like to get Tax Returns equal to the amount of YOUR CREDIT you have out Did you know the I.R.S. Tax Code allows for it and it works when people use it. See the E Mail below as to the most recent wins.

I showed a married couple filing jointly how to submit 1099 OID's and 1099 A's to claim the income they issued from their credit when they acquired their mortgage and other debts.

On March 21st I eFiled their 1040 return using TurboTax. Turbotax calculated their expected refund amount to be $345,000.

On March 27th the IRS direct deposited the full amount of $345,000 into their bank account. I never heard of anyone using the 1099 OID process getting a huge refund so fast!

My friend told me today that the funds have cleared their account and they were able to access the funds to purchase things and pay off debt. They even plan to refinance their mortgage so they can OID the new mortgage next year.

I am expecting a $204,856 refund for 2008 and a $297,000 refund for 2005.

There is much information already available online for this stuff but my friend and I will have a website up soon with everything in one place for easy access and understanding. It basically goes like this:

Whenever you get a bill or have credit extended to you in some manner that money is considered as REAL even though it is money promised to pay like a mortgage is. The full amount of your CREDIT is to be given to you or they are violating the I.R.S. Code. So when a bill comes in the mail but no check is attached they have just made income off of your Credit and you can attach them with notice of 1099 OID to the I.R.S. and the I.R.S. will collect those monies and send them to you a tax time. This has been a well kept secret from the public.

Learn your Rights, learn the Law and then USE IT to your advantage and tech others also. Only through knowledge and use can we the People take back this Nation for the People and away from the Bankers and Credit Companies, who get rich off your name. Make them report that money as Taxable Income to the I.R.S. and have the I.R.S. gt your money back for you...

This is NOT legal advice and shouldn't be construed as such, I will update this thread as soon as the website is up and running. Until then do your own research on the 1099OID and surprise yourselves with the ease of understanding and use of this system...

reply to post by theindependentjournal


I would be interested to learn more about this. Do you have any links for info or when do you think you and your friend will have your website up? Thanks!

This is a scam. Here is IRS link to read:

IRS source

[edit on 2-4-2009 by charlie0]

Thanks for the info Seemed to good to be true.