Thursday, September 8, 2011

Hoarding Cash?!?!?

By Nicholas Contompasis

As a tax professional I have represented clients for decades against the Internal Revenue Service on all sorts of tax matters. I have always kept my cool through all types of ridicules questions from auditors and their collection agents, but I lost it the other day.
The auditor went through the normal questions of financial procedures about my client so to get a feel for any fraudulent activities. Everything was normal until the auditor asked if my client hoarded cash!!!!
I paused for a few seconds before answering. Thoughts raced through my mind as I began a diatribe starting with "What kind of question is that? It's bad to save cash? Since when?" Since now!!!
Like an M-16 I rattled off about the failing banks and their insolvency. I went on about how the currency is being devalued on a daily basis by the Federal Reserve and nobody seems to give-a-shit.
"Hoarding cash, are you kidding buddy? You better hoard cash, and by the way we on the street call it saving cash to survive, get it, survive!!!??? We on the street don't have the luxury of a government job where your boss prints his own money!!!!!!"
There was obviously silence from the newly minted auditor not 25 years old, as I packed up my papers and left in a huff.
So, the lesson to be learned here is, hoarding cash seems to be against the law by the Internal Revenue Service - Watch your back people - Obama and his new brownshirts are closing in!!!!

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