In my country there are no taxes on Bitcoin itself and tax authorities in general are not much focused on cryptocurrencies.
How much IRS could be successful with this tool this is about to see but for sure it's not all mighty. And I don't think they will be focused on all transactions and all users, just those suspicious ones they have some information or records so average user doesn't have to be afraid.
Topic: IRS Now Has a Tool to Unmask Bitcoin Tax Cheats - page 2. (Read 894 times)
Yes, that is all very well, but what about bitcoin mixers? They won't be able to trace those that are using them 
I for myself love bitcoins because there are no shitty taxed included.
I for myself love bitcoins because there are no shitty taxed included.
I just came across this article and I am not really sure that how it's going to work but as far as I know, we have two different mindsets among the Bitcoin users and some of them have no hesitation to pay taxes on their Bitcoin earnings and some of them are not willing to pay any tax.
* IRS Now Has a Tool to Unmask Bitcoin Tax Cheats.
What is your opinion about this? Let's discuss what is community thinking about this kind of tool.
* IRS Now Has a Tool to Unmask Bitcoin Tax Cheats.
Quote
The Internal Revenue Service has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast. Chainalysis, a startup offering its “Reactor” tool to visualize, track, and analyze bitcoin transactions. Chainalysis’ users include law enforcement agencies, banks, and regulatory entities. The software can follow bitcoin as it moves from one wallet to another, and eventually to an exchange where the bitcoin user will likely cash out into dollars or another currency. This is the point law enforcement could issue a subpoena to the exchange and figure out who is really behind the bitcoin.
What is your opinion about this? Let's discuss what is community thinking about this kind of tool.
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