Cash Gifting is all over the internet. I’m sure it’s even up on my Google ads as you read this… (but that’s their doing. If I had control of it, I wouldn’t choose Cash Gifting as an ad for my site). On YouTube there’s loads of videos with someone opening FedEx mailers full of money. We’re supposed to take that as “proof positive” that Cash Gifting works??? NOT!
I could go to the bank and take out $1,500 or $3,500 in hundred dollar bills, put them in a FedEx mailer, seal it, and send it to myself from another city or state… or have a friend send it to me. Or just write stuff on it and say it came in the mail. A video of someone opening a FedEx mailer full of money is the same as showing bank statements online. It means nothing… it’s just a visual, but some people can be easily convinced by a visual on the internet.
Most people know it’s a pyramid scheme and aside from being illegal, someone always breaks the chain because they can’t come up with the money. There are never enough ”recruits” to sustain the pyramid. When that happens, it all falls apart. People lose money, and some go to jail. This scheme will last longer than most do because of the internet. There are more people to recruit on the web, so if one doesn’t come up with the money, there’s always more online recruits for Cash Gifting. On the other hand, the internet makes it so much easier to scam people. They don’t know you, and they don’t care about you.
There are hundreds, maybe thousands of groups popping up everywhere and not all are legitimate. (well, it’s already illegal, so it really isn’t legitimate anyways!) You could get into a cash gifting group that is a total scam and they’ll just take your money and run. If that happens, there’s no recourse because cash gifting is illegal.
I saw quite a few videos that claimed the “IRS doesn’t require taxes on gifts of $10,000 from each person.” That is true. I’ve given gifts to my neices and nephews, and I’ve had gifts of money given to me by family members as a way to lessen their tax bills. But the IRS doesn’t just let you take or give that money without checking everything out. When you get or give a “gift” at tax time, the IRS questions you and your relationship to the other person. They ask both parties why it was given. I’d hate to have to explain to the IRS why a total stranger gave me a cash gift. You don’t want to fool around with the IRS. There are many good people in jail because they tried to trick the IRS.
As we speak, Federal investigators are scouring thru as many internet Cash Gifting programs as they can and people will go to jail. Those who do are usually the ones who started the programs, or ones on the top levels, but I wouldn’t want to take any chances.
If you have made money with Cash Gifting, then you’re one of the lucky ones. I can see where the internet could keep a pyramid scheme going longer than they used to, but I wouldn’t take my chances on it.