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In 1982, the United States Congress enacted the Tax
Equity and Fiscal Responsibility Act (TEFRA Act),
OrangeBee Private Monetary System, Inc. (OBM) operates
under the provision of this Act. For Tax purposes OBM is
normally taxable in the year it is earned and reported
to the IRS just as bank interest and income are
reported. OBM recommends Account seek advice from Tax
Experts. OBM is not Legal Tender as defined by the US
Congress and OBM Account’s account is not insured by the
Federal Deposit Insurance Corporation (FDIC) or any
other such governmental or quasi-governmental agency.
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