No matter how much time they will need to get ahead of the game they will eventually reach some great knowledge combined with the professional use of already available blockchain analysis software. Considering that the bitcoin blockchain is public and that they can go back and forth in time while applying some devil's magic AI to it... the future for our privacy does not look very bright.
I wonder how Taproot will mitigate this going forward.
Topic: Operation Hidden Treasure - page 2. (Read 240 times)
It's taking them a long time to "get ahead of the game".
I know companies that have actively been trying to spot tax evasion on crypto since 2017 and before, getting to it in 2021 is kinda lazy.
The IRS has also changed its mind on how crypto should be taxed too at least once since its inception and make minor changes that people probably shouldn't be assumed to be able to keep track of (it'd be useful if governments sent out newsletters when laws change as the news don't want to cover it)...
I know companies that have actively been trying to spot tax evasion on crypto since 2017 and before, getting to it in 2021 is kinda lazy.
The IRS has also changed its mind on how crypto should be taxed too at least once since its inception and make minor changes that people probably shouldn't be assumed to be able to keep track of (it'd be useful if governments sent out newsletters when laws change as the news don't want to cover it)...
https://www.forbes.com/sites/irswatch/2021/03/06/operation-hidden-treasure-is-here-if-you-have-unreported-crypto-its-time-to-get-legal-advice/
"Damon Rowe, the Director of the Office of Fraud Enforcement at the Internal Revenue Service announced yesterday at a Federal Bar Association presentation on fraud enforcement priorities that the office has “added some crown jewels,” including a dedicated team of IRS Criminal Investigation professionals who are working on “Operation Hidden Treasure.” Operation Hidden Treasure is comprised of agents who are trained in cryptocurrency and virtual currency tracking, and who are focused on taxpayers who omit cryptocurrency income from their tax returns. Operation Hidden Treasure is a partnership between the civil office of fraud enforcement and the criminal investigation unit to root out tax evasion from cryptocurrency owners."
"Damon Rowe, the Director of the Office of Fraud Enforcement at the Internal Revenue Service announced yesterday at a Federal Bar Association presentation on fraud enforcement priorities that the office has “added some crown jewels,” including a dedicated team of IRS Criminal Investigation professionals who are working on “Operation Hidden Treasure.” Operation Hidden Treasure is comprised of agents who are trained in cryptocurrency and virtual currency tracking, and who are focused on taxpayers who omit cryptocurrency income from their tax returns. Operation Hidden Treasure is a partnership between the civil office of fraud enforcement and the criminal investigation unit to root out tax evasion from cryptocurrency owners."
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