Topic: 2013-04-17 Fr33 Aid Abandons Non-Profit Tax Status in Favor of Bitcoin (Read 1097 times)
April 18, 2013, 11:36:20 AM
Should be 2013-04-17 not 2013-4-17
April 18, 2013, 11:05:02 AM
April 18, 2013, 11:03:10 AM
IMPROPER DATE FORMATTING!
April 18, 2013, 10:35:04 AM
Haven't you guys realized "Don't believe what you read in the news" yet? They are not filing with the IRS as a non-profit because of all the paperwork and confusion. They will still pay personal income taxes, but the organization is going to use bitcoins to avoid the paperwork. Go to the website.
Im sure they are saying that they are still going to pay personal income tax on dollar transactions which they hope to minimize by using bitcoin. If they could use bitcoin for 95% of their financial transactions and still pay taxes on the 5% they are still forced to use fiat for than this would be almost functionally equivalent.
April 18, 2013, 10:31:02 AM
Haven't you guys realized "Don't believe what you read in the news" yet? They are not filing with the IRS as a non-profit because of all the paperwork and confusion. They will still pay personal income taxes, but the organization is going to use bitcoins to avoid the paperwork. Go to the website.
April 18, 2013, 10:27:36 AM
No daaaaaate?
Ha ha ha, oh oh.
Interesting story, and I will keep an eye out for the US government's response to this declaration.
you can be sure it will be swift and heavy handed. They are going to make an example out of these guys. These guys are making themselves martyrs and im sure they must know it but thats all the more reason why we should support them!
April 18, 2013, 10:24:27 AM
Noooo that's wrong!
Someone is going to be upset
April 18, 2013, 09:17:46 AM
April 18, 2013, 08:34:22 AM
Wonderful!
April 18, 2013, 07:02:21 AM
No daaaaate.
*bashes monitor with keyboard*
April 17, 2013, 10:09:01 PM
No daaaaaate?
Ha ha ha, oh oh.
Interesting story, and I will keep an eye out for the US government's response to this declaration.
April 17, 2013, 10:03:35 PM
No daaaaaate?
April 17, 2013, 08:24:29 PM
This is excellent! I've already sent in a donation, however small it may be.
I know that every time I come to a charity or organization I find worthy of a donation and am met with only PayPal and/or a Credit Card, I usally continue right on past because I don't have enough trust to hand somebody I don't know access to every penny in my bank account for as long as they and my account both exist. With bitcoin, I don't have to trust somebody I will likely only see once in my life, I can just send them some money without worry that anybody could take the rest of it. Which makes me much more likely to give.
I hope that other non-profits take notice of this and at the very least start accepting donations in bitcoin.
I know that every time I come to a charity or organization I find worthy of a donation and am met with only PayPal and/or a Credit Card, I usally continue right on past because I don't have enough trust to hand somebody I don't know access to every penny in my bank account for as long as they and my account both exist. With bitcoin, I don't have to trust somebody I will likely only see once in my life, I can just send them some money without worry that anybody could take the rest of it. Which makes me much more likely to give.
I hope that other non-profits take notice of this and at the very least start accepting donations in bitcoin.
Oh i agree wholeheartedly. The fact that your donation was small is not a big deal either, i only donated a dollar myself but thats the beauty of bitcoin. Everyone can donate a dollar with almost no barriers, and if everyone who likes this cause donates a single dollar they will be rolling in dough in no time.
April 17, 2013, 08:09:10 PM
This is excellent! I've already sent in a donation, however small it may be.
I know that every time I come to a charity or organization I find worthy of a donation and am met with only PayPal and/or a Credit Card, I usally continue right on past because I don't have enough trust to hand somebody I don't know access to every penny in my bank account for as long as they and my account both exist. With bitcoin, I don't have to trust somebody I will likely only see once in my life, I can just send them some money without worry that anybody could take the rest of it. Which makes me much more likely to give.
I hope that other non-profits take notice of this and at the very least start accepting donations in bitcoin.
I know that every time I come to a charity or organization I find worthy of a donation and am met with only PayPal and/or a Credit Card, I usally continue right on past because I don't have enough trust to hand somebody I don't know access to every penny in my bank account for as long as they and my account both exist. With bitcoin, I don't have to trust somebody I will likely only see once in my life, I can just send them some money without worry that anybody could take the rest of it. Which makes me much more likely to give.
I hope that other non-profits take notice of this and at the very least start accepting donations in bitcoin.
April 17, 2013, 07:55:52 PM
http://dailyanarchist.com/2013/04/15/fr33-aid-abandons-non-profit-tax-status-in-favor-of-bitcoin/
today Fr33 Aid is making the courageous move of declaring their financial independence by willfully and publicly severing their ties with the IRS, forsaking all the banking privileges that entails, and announcing themselves as an entirely bitcoin based organization. As far as I know they are the first charitable organization to do this. I hope you can appreciate how radical this is.
Many organizations seek non-profit recognition from the IRS in an attempt to protect themselves from asset confiscation. In April 2012, Fr33 Aid applied for this privileged status, but since then the process has been nothing but a bureaucratic nightmare. Today Fr33 Aid announced they have abandoned their IRS application and adopted bitcoin as their primary financial instrument.
Fr33 Aid Treasurer, Teresa Warmke said:
“Now that there are ways for us to do banking without government involvement, we decided fulfilling (IRS demands) would not be a responsible way for Fr33 Aid to spend its money nor for our volunteers to spend their time.”
They determined that their attempt to comply with the IRS’s confusing demands was not only unnecessary, but counterproductive to their mission of supporting volunteers who provide first aid and educational services at liberty-oriented events, and demonstrating the value of voluntary mutual aid. By making this bold transition into a bitcoin based organization they will be able circumvent the complex and burdensome requirements of state regulated banks, retain complete control over their assets, and focus entirely on their important mission
I hope you guys can appreciate the magnitude of this. Help to set an amazing precedent by making this initiative successful, donate here: 1Fr33Aidr4gokeCcHHxbnDi8vasKHEaRUm
today Fr33 Aid is making the courageous move of declaring their financial independence by willfully and publicly severing their ties with the IRS, forsaking all the banking privileges that entails, and announcing themselves as an entirely bitcoin based organization. As far as I know they are the first charitable organization to do this. I hope you can appreciate how radical this is.
Many organizations seek non-profit recognition from the IRS in an attempt to protect themselves from asset confiscation. In April 2012, Fr33 Aid applied for this privileged status, but since then the process has been nothing but a bureaucratic nightmare. Today Fr33 Aid announced they have abandoned their IRS application and adopted bitcoin as their primary financial instrument.
Fr33 Aid Treasurer, Teresa Warmke said:
“Now that there are ways for us to do banking without government involvement, we decided fulfilling (IRS demands) would not be a responsible way for Fr33 Aid to spend its money nor for our volunteers to spend their time.”
They determined that their attempt to comply with the IRS’s confusing demands was not only unnecessary, but counterproductive to their mission of supporting volunteers who provide first aid and educational services at liberty-oriented events, and demonstrating the value of voluntary mutual aid. By making this bold transition into a bitcoin based organization they will be able circumvent the complex and burdensome requirements of state regulated banks, retain complete control over their assets, and focus entirely on their important mission
I hope you guys can appreciate the magnitude of this. Help to set an amazing precedent by making this initiative successful, donate here: 1Fr33Aidr4gokeCcHHxbnDi8vasKHEaRUm
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