Topic: Income Tax for bitcoin (USA) (Read 218 times)
I'd worry about that only in case I get fined for not paying taxes. Otherwise, I don't wanna pay money to government.
According to Google government collect income tax for common reasons, such as police and fire fighters. Recently there is a huge debate going on this topic because governments want to take income tax from Bitcoin ATMs too. Because it is not for anything it's like those people who are helping us in the emergency and I think we should pay income tax for this. Speaking on some corrupt government Bitcoin is almost corruption proof so we can Pay these taxes without any problem.
There is a huge possibility that the government will know. But knowing how they act, for sure they will only target high amounts.
If you live in USA, you need to use your phone number to get the verity code when you go to bitcoin ATM to buy or sell bitcoin. Do we need to file the income tax form to the government? Will the government know?
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