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Wait, so the IRS taxes Bitcoin? So what will happen if I don't

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Thread replies: 15
Thread images: 2

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Wait, so the IRS taxes Bitcoin? So what will happen if I don't tell them my Bitcoin earnings? I'll get arrested?
>>
Render to Caesar what is Caesars.

You are foooked
>>
they can try, they only know about them when you cash out of course, unless you buy through some shady exchange that hands over all your details.
>>
>>1697102
how does IRS know when you cash out?

do they get a 1099 from the bitcoin exchange or something?
>>
>>1697105
>how does IRS know when you cash out?

They don't but the exchange you use likely keeps records of all your transactions ,coinbase for example are being asked to turn over all records ,they are going to fight it in court but who knows how that will turn out,

Just be smart about it.
>>
>>1697105
talking about whats visible to them. if you get money in your bank account, that can get reported. im not interested in bypassing tax, but im not gonna fuck with the irs' stupid capital gains tax when moving crypto to crypto. thats invisble to them.
>>
>>1697046
Not if you keep anon at all times. Anonymise yourself and your coins before investing.
>>
>>1697113
it's also invisible to them if you sell p2p for hard cash.
>>
File: dolan.jpg (7KB, 142x142px) Image search: [iqdb] [SauceNao] [Google]
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>>1697105
In my country the tax-bear knows the common places where people sell bitcoins to euros so they contact the largest banks and check out all the deposits from those places.

Ofcourse you can sell bitcoins in a exchange with a different bank account every time, but the tax-bear then wants to know where the money comes from so you will have to pay the capital gains tax anyways.

Pre-paid bitcoin cards are only true anonymous way to pay with bitcoin withhout taxes
>>
>>1698888
>have to provide ID to get bitcoin card
>only true anonymous way

lol
>>
>>1698894
no, you are now confusing bitcoin cards to bitcoin pre-paid cards which do not require id
>>
>>1698898
Sure, if you only plan to use their lifetime limit of $2500, but at a limit that low, why are you trying to evade tax in the first place?
>>
>>1698910
because poor people shouldn't pay any taxes
>>
>>1697046
Tell them my bittycoins got hacked hurrr durrr I am so sad boy.
IRS give me refund plox?
They say no...stab them in the eyesockets.
>>
IRS taxes income. Capital gains are income
Thread posts: 15
Thread images: 2


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