in a public state park in Arkansas. Thirty-three year old Kevin Kinard found the 9.07 carat whopper in the Crater of Diamonds State Park on Labor Day. It is the second-largest ever found at the park, the biggest being a 16.37-carat stone found in 1975, which was also the biggest diamonduncovered in the U.S. Mr. Kinard gets to hang on to his big find, since visitors who find diamonds or other minerals at the site are allowed to keep them.
The stone has not yet been appraised, but whatever the massive diamond turns out to be worth, does Mr. Kinardhave to worry about looking over his shoulder for the IRS? Yes, that’s the not so feel-good part of the story. According to the IRS, money or valuables you find are taxed, even if you just happen upon something by pure luck, and even if you don’t sell it to turn it into cash.In fact, when it comes right down to it, just aboutis fair game for the IRS.
Theft. Why does the government need to have any hand in this? They don't, and we support legal extortion.
Donate it to a charity you own! Maybe use it as a down payment to start your own University?
So this guy is already on the IRS radar to pay taxes on something he found that is naturally occurring from the earth, but the leader of the country has been exempt from paying taxes for a few decades? Got it. 👍🏻
IRStaxpros Get our money from realDonaldTrump first.
Take the Trump deduction and claim it cost you $3million to dig it up and another $2 million to store it? 🙃
Wow! You are blessed!
and if only Trump found it and IRS told to pay the tax:
I'd say it should not cost him more than $750.00.
Unless you are Donald Trump.
One of my jobs was to read the obits for donors and others important to the university in order to send appropriate condolences (and alert the dept that works on getting as much $ from the estate as possible). I bet the IRS has people tasked to track down these stories, too!
I imagine that will cost more than $750 in income tax on his tax return
Remember the guy who caught some 'it's history' baseball and got hit with a massive tax bill? Think IRS dropped it cuz of the bruhaha in the press.
Can he just say that he LOST one of greater value and write it off?
Fuck the IRStaxpros
A primo example of the IRS being crooks 😂
The Government always has their hand out no matter what!!! SMDH
What? God our tax system is fucked!
That’s what you get for bragging. Now pay your taxes haha
Not many people know this, but I do. I probably know more about diamond mining in Arkansas than anybody.Tell the IRS you used a $10,000,000 shovel to unearth the diamond that should cover any profit and you can write off the whole big beautiful diamond as a loss. Your bud Don. T
Meanwhile Trump ....
Damn IRS!
That's bullshit!
If the president doesn't pay taxes...
He better consult Trump for this one
Easy... value is $0. You set the value.
So he has to sell it to pay the taxes to keep it.
No choice but to sell it.
Maybe he can pull a Trump and just pay $750?
IRS going broke, they need promo
Next tine he should keep his mouth shut
How about the IRS explains how trump got away with not paying taxes for 10 years, before going after a man who had one lucky strike?
WtF! Why does realDonaldTrump gets to keep all his millions?
Not til Trump pays his.
magicdmw Not if the President doesn't.
Bulls**t!!!
If only the IRS were just as aggressive during tax season with realDonaldTrump TaxFraudTrump
Too much law in America over here in Nigeria is not so
He just has to report it as a loss since that's all the president has to do. It's probably worth at least -$10,000,000 so the tax right off should be great.
I will just say l lost and sell it on the black market and sell everything p have in the states and move to Australia 😂😂😂 , and get a permanent residence there , IRS wanna take wats not eirs
Since the Federal Reserve Note is not worth anything I do not seeing that being a problem.
IRS charging tax for that? common.... let the man keep what he found, in a way it's a rock, IRS shouldn't take advantage of taxing for what they haven't done sxxxt.
It’s a rock. Dollar value is 5¢.
Does the IRS know that the price of diamonds are artificially inflated by a monopoly of mining rights?
Tell irs to lock trump up first
It’s like if the IRS told me to pay for for the treasure chest filled with cash thati found in my own backyard. irs can eat my dick.
He can pay his daughter consulting fees for the appraisal to offset the taxes
The IRS even make the US Olympic athletes pay taxes on their medals
Please share this video
Why would he tell anyone...
Pay your 6 year old a $1.5m salary to offset the charges.
It probably came from POTUS ass-holio
Then don’t get it appraised...
The tax man ruins everything
If I haven't selled it.. Why should I pay taxes for it? I didn't bought it...
Pretty sure I know why he hasn't had it appraised. Even a layman can tell you it has no resale value and is sentimental value alone.
Try to ask POTUS how he can limit that.
Bullshit !
Aka paid more on a rock than our president in the past 10 years?
“Crater of diamonds”SP only place in world where you keep what you find. I believe the only perfect diamond in the world found here, on display.
&$ the IRS. Taxes are a major source of power abuse. A lot of money goes into the hands of people who don’t earn it ... so illogical.
Are you going to make Trump claim some shit before you come after this guy, IRS?
Seriously? Madness!
IRS is the greediest government office in existence abolishIRS CNNPolitics cnni
Trump 45- he’s your man, if no one can assist you, he surely can🤢
Dye your hair what ever trumps hair color is Pay $750 and forbes will call you a billionaire even if you are not
Lol ok 😎, what about Donald and his Mafia friends.! OMG 😂 reported as income for the tax return...!
He should definitely consider guidance from POTUS tax advisor.
Ask Trump for advice on how you can pay $750 to the irs
$750 will do it!
Not if you’re Trump.
Well it’s just a rock, it has zero value. That’s all he has to say 😂
IRS Can go to a Hell! That's bull Shit. They're making him sell.
TaxationIsTheft
But Trump pays 750$ in taxes smh, this country is so ass backwards.
maybe don't put your whole life on social media. like when you find a huge diamond, for example.
Just get a $70,000 haircut and offset it against the value of the diamond
LOL! IRS is something else ,wonder what they're going to do to that man in Washington
He found a 9 carat diamond!? Let's just say he located the diamond because it had to have been stolen... You don't find 9 carat diamonds..
such a scam..lol
Jesus!
Nah just let the fed print the taxes
He should ask Trump how he can keep the amount of tax he has to pay on it to around $750.00
That’s such bullshit
What would tRump do?
IRS is greedy and it’s dumb. It’s a piece or rock until it is sold, then income is realized
Your diamond photo is gorgeous!! His wasn’t anything like this: he thought it was a piece of glass !!!
I speak for everyone not named trump when I say FUCK THE IRS
Just pay them $750 no matter what he makes off of it 🙄
Stunning. -ONE.
Maybe Trump can give him some advice 🤣
Well that is dumb, it is worth nothing until it is sold.
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