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File C Users 16012 Documents Chs Irs Prf PDF Form

File C Users 16012 Documents Chs Irs Prf PDF Form

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there's this guy that bought 30 million gift cards to make $310,000 taxfree and legally and when the IRS took him to court they couldn't send him to jail so there's this guy named Constantine that signed them for an American Express card that had unlimited 5% cash back he figured out how to farm money by using the card to buy Visa gift cards then he used the gift cards to buy money orders which he could deposit back into his account the entire process cost 4% of the total transaction value and since he had a 5% cash back reward he could keep that 1% as profit him and his wife got busted because they had $6.1 million in credit card charges which led to an IRS audit they found $310,000 as income from this but credit card rewards are not considered taxable income Constantine argued with the government which couldn't sentence him and I mean he wasn't doing anything illegal he just found a loophole ultimately he had to pay some taxes on the money he g

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