First published by Money Metals Exchange here:
https://www.moneymetals.com/news/2021/12/07/bidens-irs-is-mining-for-gold-002421
The Biden administration is moving aggressively to raise revenues by any means necessary – including going after precious metals held in so-called “home storage” or “checkbook” retirement accounts. The IRS recently nailed a couple with a $300,000 tax bill for holding gold coins designated as Individual Retirement Account (IRA) assets – but stored in their home safe rather than at a depository.
