I agree there is most likely taxes to go with big investments including BTC. But I think it's at time of sale most likely.
You need to show a capital gain or capital loss. Until you sell the BTC you don't know how much hopefully you will make.
Topic: Bitcoin , IRS , Tax evasion ? (Read 675 times)
I don't think tax evasion is possible in any developed country.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
that's why you use services that buy thing for you dfirectly in bitcoin, like all4btc or https://xmr.to/ for monero
other may find more comfortable to use anon card, with a limited amount, i guess it could work, yet the most anon way remain cash to bitcoin, to avoid taxation
Can't customs inspect the package and see it was paid in some "cryptocurrency" avoiding taxes, then they informing the IRS? those packages aren't magically safe from that even if you pay directly with crypto am i right?
the seller could just, write above that it was payed with fiat, like when you say(many are doing this even today) that there is electronic thing inside a package when you ship it abroad
also IRS isn't controlling every governments, in some country bitcoin is not even reglulated or taxed at all, you're free to go
I don't think tax evasion is possible in any developed country.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
My friend, I'm afraid you have little imagination. There are smart guys in London, Paris, Berlin and Geneva. Just like everywhere on this planet. I know that well... Maybe in North Korea, it's different, but I guess there isn't much private business down there.
I don't think tax evasion is possible in any developed country.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
that's why you use services that buy thing for you directly in bitcoin, like all4btc or https://xmr.to/ for monero
other may find more comfortable to use anon card, with a limited amount, i guess it could work, yet the most anon way remain cash to bitcoin, to avoid taxation
I don't think tax evasion is possible in any developed country.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
What are you going to do say when the bank sees you keep receiving money out of nowhere?
The only way would be to never leave the Bitcoin ecosystem, simple as that. Get paid in BTC, buy in BTC.
If you need fiat, i guess the best way is still Localbitcoins IRL transaction.
I would not be surprised to see some of the exchanges start to issue statements at some point. Similar to investment accounts at various brokerages etc. Coinbase etc already verify your name address etc. So it would be easy for them.
you got a point , and that's why on my opinion we shouldn't be using any exchange website because we could do on forums like Bitcointalk (and with any payment method we would like , just like on exchanges ) etc ... because they are screwing our privacy off.
I would not be surprised to see some of the exchanges start to issue statements at some point. Similar to investment accounts at various brokerages etc. Coinbase etc already verify your name address etc. So it would be easy for them.
Speak about your self and on your country , can Bitcoin be used to make Tax evasion and how is that ? Open discussion thread . For me I know it's possible because on Algeria they don't even knwo what Bitcoin is , so I guess it's possible however I don 't have bills or taxes to pay , just a simple teenager so the moment I don't have to care about this .
Because I was reading this article on Forbes : http://www.forbes.com/sites/robertwood/2013/05/05/sorry-bitcoin-irs-gets-reports/
and not sure what it means to be honest , I guess taxes don't work same way worldwide . I mean how they will know if you have BTC or not ?
Because I was reading this article on Forbes : http://www.forbes.com/sites/robertwood/2013/05/05/sorry-bitcoin-irs-gets-reports/
and not sure what it means to be honest , I guess taxes don't work same way worldwide . I mean how they will know if you have BTC or not ?
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