Topic: I didn't pay capital gains tax on bitcoin sales to IRS today - page 15. (Read 24100 times)
how would they know if you kept your money earned in Fiat after trading from bitcoins? Do they have access to the trading accounts?
I paid my taxes, I even went back and amended my 2011 and 2012 returns for the coins I mined back then. It's not a political statement, it's a 'I don't want to go to jail' when I sell statement. I choose to live here, I'm going to abide by the current laws. Doesn't mean I necessarily agree with all of them, especially the mining tax, but whatever. I hope your decision works out for you, I really do.
This post serves as an important reminder that even in a community like ours, there are still a great many obedient tax cows.
Some people just don't want the hassle. They'd rather pay their taxes than worry that they'll receive a letter from good ol' IRS. Not all of us are ready to save the world, you know.
This post serves as an important reminder that even in a community like ours, there are still a great many obedient tax cows.
The IRS already knows who you are and what you owe, OP.
And the funniest part is... they are not going to do a single thing about it... because you will deliver yourself to them on a silver platter sooner or later.
And the funniest part is... they are not going to do a single thing about it... because you will deliver yourself to them on a silver platter sooner or later.
fuck me i forgot to report my $10 income from mining. Damn now i have to go sacrifice my soul to the IRS.
You guys are ridiculous.
The IRS doesn't care how many bitcoins you have. They don't care about your frickin' blockchain!!!!! It's just like they don't care how many beanie babies you have stored in your garage! You can have 1,000,000 bitcoins in your wallet and the IRS won't care. You don't owe them a dime for that.
They will only see transactions going in and out of your bank accounts. If there is high activity or high dollar amounts, the IRS will question it. Or if they see big purchases you've made, the IRS will question it. That's it!
If you made $10 income from mining, it's just like having a lemonade stand and making $10. The IRS doesn't give a crap about it.
If you're able to keep everything you do in bitcoins and cash without going through any bank accounts or leaving any paper trails - you'll most likely fly under the radar to the IRS. But if you pay cash for anything large, like a car, it will be reported by the car dealer, then the IRS will look into everything you do. So, you CAN fly under the radar for most things, but live a real life, and you'll find out you can't. You can't get a loan unless you have a credit record, which means you need a bank account, etc. etc.
Because you did not pay your taxes there is a road somewhere that will disappear.
Good God, how brainwashed are the American people?
Gas taxes pay for roads.
Property taxes pay for schools.
ANY public good you receive is paid for by taxes OTHER then the income tax.
100% of the income tax goes to pay interest on the debt (in other words, back into the Banksters pockets).
This was all done by design. They turned you all into mind numb slaves. And with the ignorance Elwar is displaying here you can understand how they got away with it.
You want to be a good American? Keep your wealth in your community where it truly does benefit your fellow Americans. And go to whatever means are necessary to keep it out of the hands of the Banksters.
good point....if you are not throwing around 10k orders to knc in sweden...and your bank messes up 3x for a redo...kinda rings some bells in IRS land....
if it can't work as a 'legit' pt business (bitcoin) there are 'other' less hazardous things i can work at for fiat that can't be traced
gold/silver.....make an ebay store (IRS an't chasing them yet) etc..just don't need the hassle....and with the stupid wire xfers
to get the miners in the first place...well ...good thing i paid my taxes to IRS this year ..thats for sure....
but yeah it is up to usa citizen to report..'self-reporting" is the law in this country..ie you get in more trouble by NOT attempting to tell the IRS your taxes (or avoiding) then just paying your share imho
by the by both President Ronald Reagan and Obama would like to just HAVE the IRS figure out your taxes......was done that way 1 yr in calififornia 90% said they would do it that way...if you have the means to tell if i cheat you have the means to do the taxes....they do your taxes..you have options to do your own or sign off on what they say you own...it is shot down in congress each year....billions are made by CPA's and others on Tax Returns....but each year a new wrinkle in the tax code pops up in your favor and the IRS uses the tweak...suddenly they are your hero.....(weird concept..but then again we sent men to the moon with the computing power of my digital watch so go figure...)
but yeah....90% of all IRS forms now are done electronically i guess in this country it is doable according to the studies.....but a lot like bitcoin....banks don't like bitcoin..tax accountants sure don't like the above idea..have the income of accountants would go poof imho
Searing
fuck me i forgot to report my $10 income from mining. Damn now i have to go sacrifice my soul to the IRS.
Are you trying to Poke a Beehive of angry bees?
Nonsense, these are clearly calm, soft, cuddly bees.
The angry bees are hiding over here:
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
Isn't spending bitcoins a tax event, meaning you must account for the fiat value of any gains regardless (i.e. fiat value of the goods or services you purchase minus fiat value of the bitcoins when you acquired them)? The tax ruling was not just about converting BTC to fiat. 
It'll take some time but I'm pretty sure the government will start regulation transactions within the US
I appreciate you taking the time to point out how silly the regulations are. I tend to agree and the last thing on my mind is worrying about paying more taxes to the IRS especially for using BTC.
Because you did not pay your taxes there is a road somewhere that will disappear.
Good God, how brainwashed are the American people?
Gas taxes pay for roads.
Property taxes pay for schools.
ANY public good you receive is paid for by taxes OTHER then the income tax.
100% of the income tax goes to pay interest on the debt (in other words, back into the Banksters pockets).
This was all done by design. They turned you all in to mind numb slaves. And with the ignorance Elwar is displaying here you can understand how they got away with it.
You want to be a good American? Keep your wealth in your community where it truly does benefit your fellow Americans. And go to whatever means are necessary to keep it out of the hands of the Banksters.
No, all taxes pay for roads.
Without taxes, roads disappear and we fall into big holes in the ground if we want to leave the house.
Do you hate children?
Elwar you are dead wrong! Roads existed BEFORE the income tax. Not 1 red cent of the income tax goes toward any public good. The Government's own Grace commission proved this!
The ignorance you're displaying now only further make the case for how the Federal Reserve & the Banksters have been able to get away with such a fraud for so long.
"None are more hopelessly enslaved than those who falsely believe they are free."
Johann Wolfgang von Goethe
No, all taxes pay for roads.
Without taxes, roads disappear and we fall into big holes in the ground if we want to leave the house.
Do you hate children?
Without taxes, roads disappear and we fall into big holes in the ground if we want to leave the house.
Do you hate children?
Taxes pay for illegal wars. Taxes pay for police brutality. Taxes pay for unprecedented spying on innocent Americans.
The US, like all other advanced industrial economies, is a tax farm. It's citizens are obedient tax cows, being milked.
Because you did not pay your taxes there is a road somewhere that will disappear.
Good God, how brainwashed are the American people?
Gas taxes pay for roads.
Property taxes pay for schools.
ANY public good you receive is paid for by taxes OTHER then the income tax.
100% of the income tax goes to pay interest on the debt (in other words, back into the Banksters pockets).
This was all done by design. They turned you all in to mind numb slaves. And with the ignorance Elwar is displaying here you can understand how they got away with it.
You want to be a good American? Keep your wealth in your community where it truly does benefit your fellow Americans. And go to whatever means are necessary to keep it out of the hands of the Banksters.
No, all taxes pay for roads.
Without taxes, roads disappear and we fall into big holes in the ground if we want to leave the house.
Do you hate children?
Just as an aside, here is a story from the UK about how the authorities treat "unexplained" income here.
http://www.bbc.co.uk/news/uk-england-hereford-worcester-26977356
As a dedicated tax resister (10 years as a high earner without paying income tax) in the UK, it's an area I know fairly well. It's only a matter of time before they step up their game against me. Bitcoins are the best way to protect assets from the state.
It's a point of principle for me. I will not fund the state where I can avoid it.
http://www.bbc.co.uk/news/uk-england-hereford-worcester-26977356
As a dedicated tax resister (10 years as a high earner without paying income tax) in the UK, it's an area I know fairly well. It's only a matter of time before they step up their game against me. Bitcoins are the best way to protect assets from the state.
It's a point of principle for me. I will not fund the state where I can avoid it.
Because you did not pay your taxes there is a road somewhere that will disappear.
Good God, how brainwashed are the American people?
Gas taxes pay for roads.
Property taxes pay for schools.
ANY public good you receive is paid for by taxes OTHER then the income tax.
100% of the income tax goes to pay interest on the debt (in other words, back into the Banksters pockets).
This was all done by design. They turned you all into mind numb slaves. And with the ignorance Elwar is displaying here you can understand how they got away with it.
You want to be a good American? Keep your wealth in your community where it truly does benefit your fellow Americans. And go to whatever means are necessary to keep it out of the hands of the Banksters.
Because you did not pay your taxes there is a road somewhere that will disappear.
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
Are you trying to Poke a Beehive of angry bees?
...or a nest of sleepy Bumblebees?
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
Are you trying to Poke a Beehive of angry bees?
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