Uncle Joe Wants Your Bitcoin Taxes

astroboy

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Uncle Joe Wants Your Bitcoin Taxes

« on: March 31, 2021, 12:46:19 PM »

Never underestimate the greed of government to tax and spend your money.

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changemyoil66

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Re: Uncle Joe Wants Your Bitcoin Taxes

« Reply #1 on: March 31, 2021, 01:10:46 PM »

When I filed my H&R Block taxes this year, the first real tax question was if I bought or sold any digital currency.

From what I was told by various bitcoin owners, there is no way of the IRS knowing what you got unless you tell them. The coin brokers don't hand out tax forms unless specifically requested by yourself. Just don't be bitcoin rich and buy a lambo, cause you will fail an audit.

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Glasser

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Re: Uncle Joe Wants Your Bitcoin Taxes

« Reply #2 on: March 31, 2021, 02:18:12 PM »

US intel groups claim they can now track bitcoin movement because each is unique and they can 'see' the exchanges. Who knows if the are just blowing smoke or not. I just dont see those resources being lent to the IRS for audits. And US Intel is too busy trying to figure out which of its citizens are unvaccinated Nazis to actually look for low level money laundering.

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MassConfusion

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Re: Uncle Joe Wants Your Bitcoin Taxes

« Reply #3 on: March 31, 2021, 02:31:25 PM »

Quote from: Glasser on March 31, 2021, 02:18:12 PM

US intel groups claim they can now track bitcoin movement because each is unique and they can 'see' the exchanges. Who knows if the are just blowing smoke or not. I just dont see those resources being lent to the IRS for audits. And US Intel is too busy trying to figure out which of its citizens are unvaccinated Nazis to actually look for low level money laundering.

The block chain is a massive ledger, the only way to know who owns a wallet address is if you use it somewhere it can be associated with you. Like say you buy something online and they can cross reference the sale. You can track crypto easy. The only one you can't is monero coin. It is actually very private.

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