cryptocurrency

[yyrkoon]

lotsa bitter poors itt

[Jazzy]

Man i wish i had savings of $4500

Lol jk

[Pokesan]

https://www.theverge.com/2017/11/29/...se-irs-records

Today, Coinbase suffered a major defeat at the hands of the Internal Revenue Service, nearly a year after the case was initially filed. A California federal court has ordered Coinbase to turn over identifying records for all users who have bought, sold, sent, or received more than $20,000 through their accounts in a single year. Coinbase estimates that 14,355 users meet the government’s requirements.

Coinbase boasts nearly 6 million customers, but according to a government filing, fewer than 1,000 US citizens have reported cryptocurrency holdings on their taxes.

who's ready for jail?

[Pokesan]

im hearing some coin enthusiast ate his own testicle

[heartbrand]

Yea so that's not at all how an Audit works.

[Izmael]

It's funny how the USA is so strong on the "moral values", yet is the biggest porn producer in the world.

It's so harsh on tax evasion yet harbors Delaware. List can go on.

Maybe that's why the rest of the world has that love/hate relationship with the USA.

[AzzarTheGod]

Originally Posted by Forum Cuck [You must be logged in to view images. Log in or Register.]

Not jail, audits

they go through everything and make you sit there and watch , then pay taxes on it

Jail is only for tax evaders

I pay my taxes and report everything , my books are gorgeous and clean. The thought of a time consuming audit makes me sick.

Easiest way to get audited is to trade stocks and mess up reporting your income

or make some bitcoin trades and not report it

You'd be surprised how often they want a look at the books and you can tell them no because you are traveling.

I knew a business magnate who was literally always on an aircraft with the books. The IRS would call and he would talk to them on the airplane on more than one occasion.

They said they needed to see his books. He said great.

They said what office are the books at?

He said I have all the books right here in my briefcase, what do you need to see?

IRS: ??? Well ah, we need them. Where can we retrieve them?

He said What's them? I carry all my records on my person

IRS: ??? Ahhhh so they are not at the office address listed here...

I carry all my books for 20 years now as the principal of the company, just tell me what you need and I'll try to get you it as fast as I can when I'm back in that part of the country

IRS: ???

Stumped em. They couldn't specifically say what they needed, or what the line of questioning was, and he had a reason to not be able to comply with physical access to the books, so they hit a complete dead end.

The field office that handles your business address is the IRS field office that will try to contact you regarding an audit. If you are incorporated in multiple states and travel often, the field office has no idea what to do about that. They ask for access to the office to retrieve the books in your absence but when you tell them the books are with you personally, they get stuck.


There's many tricks and layers to tax avoidance. Tax evasion on the other hand, is illegal and you will be subpoena'd and end up in prison.

[hokuten99]

Originally Posted by heartbrand [You must be logged in to view images. Log in or Register.]

Yea so that's not at all how an Audit works.

I could totally use your advice, You play pubg or Divinity2?

[AzzarTheGod]

Originally Posted by Pokesan [You must be logged in to view images. Log in or Register.]

https://www.theverge.com/2017/11/29/...se-irs-records





who's ready for jail?

*daps GPU prison teleportation wand*

Some of the bigger tycoons could see actual prison time because of the fact that cryptocurrency is inherently secretive and a known device to avoid paying taxes, and that the holders must know this and did not act in good faith.

Who's ready to get fucked up the back end over thinking you don't have to pay back end?

[Lulz~Sect]

Coinbase Ordered to Turn Over Identities of 14,355 Crypto Traders to the IRS (vice.com)
https://news.ycombinator.com/item?id=15815811