question for all you 1715 fleet treasure hunters

[pulltabfelix]

I am pretty sure Carl-NC is correct, so keep it on the down low. Very hard for the IRS to catch that kind of found treasure as income. I know a couple of guys who clean up in expensive jewelry on the East Coast Florida beaches and never post any of their finds on Youtube or any forums or anywhere for obvious reasons.

I will add this: once it becomes material in value, eg over say $500 you run a huge liability with any taxing authority. If they find out via someone snitching on you or an electronic trail you likely will be faced with penalties and interests and if over a certain amount maybe even jail time. Not worth the trouble. Just consider the net amount after taxes found money. Keep in mind people working in the collections division of any taxing authority, it is their job to recover money and that is how they are rated for promotion.

 

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