Helper Dash
Member
Just About Everyone With Bitcoin Is Lying to the IRS
4/15/2018
https://gizmodo.com/just-about-everyone-with-bitcoin-is-lying-to-the-irs-1825275308
[ I decided to post my tax discussion here:
https://www.dash.org/forum/threads/help-for-dash-master-nodes-proposal-owners.37656/#post-186641 .... so check there.]
But, I can discuss a few things from the article here.
Like:
Reddit users who think they owe tens of thousands of dollars...
Why do you think that? Please give examples. (Prefer posts from Dash people....not inviting Bitcoin forums here.)
I cannot see why IRS considers crypto property. So...I am researching, and we will know shortly.
]
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"For those who spent the whole year trading on the cryptocurrency markets, that creates a lot of activity to report—especially for those who didn’t make much or ended up losing it all during the market’s downturn.
Bitcoin traders have been less than pleased with the realization they have to pay taxes on any of their earnings. Some have learned that they racked up a tax bill considerably larger than their annual income. On Reddit, users have reported owing tens of thousands of dollars to the IRS for their transactions.
Others have opted simply not to pay and dared the IRS to come find them, betting on the anonymity of the blockchain. This is, of course, a terrible idea, as bitcoin is not anonymous and the IRS has the tools to track people down."
4/15/2018
https://gizmodo.com/just-about-everyone-with-bitcoin-is-lying-to-the-irs-1825275308
[ I decided to post my tax discussion here:
https://www.dash.org/forum/threads/help-for-dash-master-nodes-proposal-owners.37656/#post-186641 .... so check there.]
But, I can discuss a few things from the article here.
Like:
Reddit users who think they owe tens of thousands of dollars...
Why do you think that? Please give examples. (Prefer posts from Dash people....not inviting Bitcoin forums here.)
I cannot see why IRS considers crypto property. So...I am researching, and we will know shortly.
]-----------------
"For those who spent the whole year trading on the cryptocurrency markets, that creates a lot of activity to report—especially for those who didn’t make much or ended up losing it all during the market’s downturn.
Bitcoin traders have been less than pleased with the realization they have to pay taxes on any of their earnings. Some have learned that they racked up a tax bill considerably larger than their annual income. On Reddit, users have reported owing tens of thousands of dollars to the IRS for their transactions.
Others have opted simply not to pay and dared the IRS to come find them, betting on the anonymity of the blockchain. This is, of course, a terrible idea, as bitcoin is not anonymous and the IRS has the tools to track people down."
