this post was submitted on 07 Aug 2024
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I don't know what an FRN is (something stupid, I assume), but damn, I wish I had the kind of money where I owed a million bucks in income tax. I'd pay it gladly and go back to my spring holiday in Tuscany.
I'd guess since he said it was from intellectual property I bet it was a scam where he claimed something like "5 million intellectual property income" to secure a loan from a bank. So now the IRS is coming after him because he claimed income to a bank but didn't pay taxes on it.
"Intellectual property" could easily mean "money made plumbing sinks." Normal english words mean nothing to a sovcit.
Seems to me they own a buisness that they haven't paid taxes on for years and were sued by IRS and likely defaulted.
You are probably right, but there are also plenty of rich people who will do anything to get out of paying taxes, even by convincing themselves they found the cheat code.
Remember, that wealthy does not mean smart.
https://en.wikipedia.org/wiki/Wesley_Snipes#Charges
I’m guessing Federal Reserve Note (he just means cash money)
That makes a lot of sense given that his bank “took all his FRNs”.
I think I’d get punched if asked a friend to “borrow some FRNs”. Like that request would send up enough of a red flag that a pop to the shoulder would be a reasonable reaction.
As an autogenous autonomous human vessel, I can access alta-vista to discover it's a floating-rate note!
Not a voucher, nor coupon.
I'm off to the Moors, sheepster...!
I had to register something called an FRN when I received my amateur radio license from the FCC. I assume that in my situation, FRN stands for FCC Registration Number or something.
Somehow I doubt that's what the sovcit is talking about.
Google tells me Floating Rate Note, basically a bond with a variable interest rate.