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To: WildHighlander57; GregNH

Thanks. Recalled reading about the IRS being in Puerto Rico, not the US Treasury.

From your link - interesting that there are conflicts in the description of terms.

https://www.law.cornell.edu/cfr/text/27/26.11

“Commercial bank”. A bank, whether or not a member of the Federal Reserve System, which has access to the Federal Reserve Communications System (FRCS) or Fedwire. The “FRCS” or “Fedwire” is a communications network that allows Federal Reserve System member banks to effect a transfer of funds for their customers (or other commercial banks) to the Treasury Account at the Federal Reserve Bank of New York.

“Electronic fund transfer or EFT”. Any transfer of funds effected by a proprietor’s commercial bank, either directly or through a correspondent banking relationship, via the Federal Reserve Communications System (FRCS) or Fedwire to the Treasury Account at the Federal Reserve Bank of New York.

“Revenue Agent”. Any duly authorized Commonwealth Internal Revenue Agent of the Department of the Treasury of Puerto Rico.

“Treasury Account”. The Department of the Treasury’s General Account at the Federal Reserve Bank of New York.


53 posted on 07/07/2015 5:55:38 AM PDT by Whenifhow
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To: Whenifhow; GregNH

Whenifhow,

That document deals with liqour etc coming in thru the Virgin Islands and Puerto Rico.
So they mention the PR treasury as well as the account of the US Treasury in New York.

Another thought, what does it say on the fed tax refund checks that people get?


54 posted on 07/07/2015 7:08:55 AM PDT by WildHighlander57 ((WildHighlander57, returning after lurking since 2000)
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