38 votes
Accepted

Do US presidential pardons include the cancellation of financial punishments?

Yes Presidential pardons only deal with breaches of Federal law. So, if the punishment is a fine then that penalty is waived. However, if the fine is punishment for breach of state law, the pardon ...
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  • 147k
19 votes

Can a business owner refuse specific Bills and Coins?

Canada may have specific different laws, but in most countries any legal tender must be accepted for payment of a debt. There are subtleties; in the UK for example more than 20 one penny coins are not ...
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  • 24.5k
13 votes
Accepted

Can gold/silver bullion be used to buy/sell market goods?

It is currently legal to barter goods or services in exchange for gold or silver bullion in the United States. Gold and silver do not have to be registered or certificated, although a prudent person ...
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  • 129k
12 votes
Accepted

Can someone deny cash as the payment method?

The Bank of England actually makes this pretty clear with the following line: Legal tender has a very narrow and technical meaning, which relates to settling debts. It means that if you are in debt ...
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  • 4,175
12 votes

Do US presidential pardons include the cancellation of financial punishments?

According to the DoJ, A commutation may include remission (release) of the financial obligations that are imposed as part of a sentence, such as payment of a fine or restitution. A remission applies ...
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  • 157k
9 votes
Accepted

Does an alchemist have a duty to disclose if they transmuted their gold?

No. If the transmuted material is truly gold, which is simply a chemical element, there is no duty to disclose its source if the source is not an illegal one. And, there is no legal prohibition on ...
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  • 129k
8 votes

When does it become illegal to exchange bitcoin for cash?

When does it become illegal to exchange bitcoin for cash? When the transaction purposefully skips the controls in place regarding anti-money laundering. Generally speaking, the issue is not the mere ...
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8 votes

Transferring Paypal money to sons friend

But lately he has had his friend use my PayPal account. Someone will send me money and then I transfer it to where he tells me. To cash app or venmo. That's money laundering. Definitely illegal. ...
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  • 368
8 votes
Accepted

Is it legal to commercially sell U.S. currency for LESS than its face value

18 USC Ch. 17 contains the laws against doing things to US currency and coins, and sale of currency is not included. So it is legal to set currency for an amount above or below face value, the former ...
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  • 157k
7 votes
Accepted

Is currency trading legal in US?

Obviously, it's not simply illegal to have a business that exchanges currency - legal currency exchanges do exist, after all. But you'd have to be careful if you wanted to open a business that does ...
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  • 6,089
7 votes
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On the legality of replacing international transfers with intranational ones

Would this be legal? Probably at this scale. Not necessarily extrapolated to a large commercial operation involving more parties. At some point it becomes a payment system and a financial enterprise ...
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  • 129k
7 votes

Taking donations on website with copyrighted material

17 U.S. Code § 107, which governs fair use in the US, says (emphasis mine): Notwithstanding the provisions of sections 106 and 106A, the fair use of a copyrighted work, including such use by ...
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  • 6,089
6 votes
Accepted

Is the use of a community currency instead of the official legal tender a tax evasion?

This answer is for the US (at least). You're assuming that if income is not in dollars or some other national currency, then it is not taxable. That is false. "Barter" income, in which you are paid ...
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6 votes
Accepted

Does the government have to accept cash for taxes?

According to this Treasury Department web page refers the asker to the : ... Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins ...
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  • 89.3k
6 votes

Is unintentional one-time bug abuse illegal?

Let’s say I go to a cash machine, ask for £100, and the machine gives me £10,000. I use my banking app and see that £100 left my account, not £10,000. At this point I haven’t done anything illegal. If ...
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  • 24.5k
5 votes
Accepted

In Germany, is there a reward for reporting possible tax fraudsters or money launderers to the authorities?

You can report your suspicions to any German police station or any prosecution service (Staatsanwaltschaft). Furthermore, in this case to any tax authority (Finanzamt). Your report may be made ...
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5 votes
Accepted

Images of real coins used as "rewards" in games

someone could ... mistakenly assume that by playing the game he can win 100 gold coins aging 2500+ years. Yes someone could, if they were an idiot, however, that is not the legal criteria. The legal ...
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  • 147k
5 votes

Borrowing from a relative or friend without documentary evidence — is it money laundering?

As has been alluded to money laundering is a generic term for the process by which criminals make the proceeds of crime appear to be legitimately obtained. Various jurisdictions have controls in ...
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  • 11.6k
5 votes
Accepted

Borrowing from a relative or friend without documentary evidence — is it money laundering?

According to the United States Treasury Department: Money laundering is the process of making illegally-gained proceeds (i.e. "dirty money") appear legal (i.e. "clean"). Typically, it involves ...
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  • 147k
5 votes

Does Paypal have the authority to charge for currency conversion?

The most minimal elements of theft are: An unauthorised taking or use of another's property; and An intent to permanently deprive that person of that property or its use You've authorised the fee as ...
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  • 11.6k
5 votes
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Do public schools have the authority to fine parents money for being late?

I found a number of news stories and official documents about public schools with such policies including: "Parents face more fines and rules if their children miss too much school" from ...
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  • 89.3k
5 votes

Why is the Federal Reserve allowed to "coin Money" and define exchange rates?

It's not a violation because Congress created and gave the Federal Reserve the power to issue Federal Reserve Notes in the Federal Reserve Act which created the Federal Reserve. More here on the ...
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  • 2,702
5 votes
Accepted

Do legal tender laws prevent "no cash" restaurants?

No A debt is created by a contract (among other ways not relevant here). A contract for a restaurant does not contemplate the creation of a debt, payment is to be contemporaneous with the service. ...
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  • 147k
5 votes

Bank is not depositing my promotion bonus

It is unlikely that you could successfully sue the bank for breach of contract, but of course the first thing you should do is carefully read the agreement and see exactly what they promised. It is ...
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  • 157k
5 votes

How does a flow-through LLC own assets?

My understanding is that the "flow-through" treatment is specifically a tax law concept. The LLC has its own income, which it can use to pay expenses or acquire assets or for whatever other purpose, ...
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5 votes

Is the game company required to help and take actions for a player who got scammed in the game for virtual currencies?

Possibly The game company has almost certainly excluded liability under the contract you entered. There may be some consumer protection that you have that they cannot exclude - I don’t know enough ...
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  • 147k
5 votes
Accepted

Can you buy a luxury car with cash?

You can purchase any expensive item for cash, if the seller will accept it. In the US and many other jurisdictions, a seller is not required to accept cash, but many will. In the US and many other ...
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  • 89.3k
5 votes

Can you buy a luxury car with cash?

Would that be legal? Yes. But it's also legal for the seller to refuse a cash payment. Will IRS or FBI or anybody come knocking on the door asking about origin of that money or its taxes or whatever?...
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  • 1,149
4 votes
Accepted

Is it legal to give non cash tips to waiters and other servers and what are the consequences in terms of taxes?

https://www.irs.gov/pub/irs-pdf/p531.pdf Page 2: The value of noncash tips, such as tickets, passes, or other items of value, is also income and subject to tax Page 5: What tips to report. ...
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  • 1,698
4 votes

Can restaurants call cops on customers who leave fake "Jesus money" as tip?

If only the tip is left in such "fake" money, it would not be theft as there is no legal obligation to leave a tip at all (except in those establishments that add a tip or "service charge' to the bill....
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