BITCOIN, the IRS, and YOU

[rawdeal]

You may be getting a letter soon . . .

https://www.cnn.com/2019/07/26/tech/irs-cryptocurrency-taxes/index.html

The (stated) purpose is to just scare people who may owe undisclosed taxes into coming clean and paying up; there is no mention of investigating illegal purchases . . . yet.

 

[FlyingDragon]

The IRS is sending these to people they know using the token. For many on here this doesnt apply as the wallet isnt connected to an exchange. The exchanges send the IRS the persons details, thus the reason for the letters.....

 

[rawdeal]

I always preferred buying things domestic and CIM, so my knowledge of Bitcoin and exchanges and how to possibly mask what I'm doing is nil. I assume our government is corrupt, dishonest, and varying levels of incompetent, and that this is true today and was under other Administrations. But I also assume their tech guys can run circles around my primitive tech skills; it's just a question of what their priorities are, how motivated they are, and if me or someone I'm dealing with is on their list.

The Special Agent spearheading this latest IRS project is Gary Alford, btw. He's the one who unearthed and destroyed Silk Road.

 

[metsfan4life]

I have bought some BTC several months ago when it was pretty low after the crash and started to raise up.. bought roughly like $600 worth and just let it sit there. I dont send it to another wallet or anything, it just rides. i did buy 1 thing from it but not from the main wallet, sent to a different wallet that isnt really attached to anything and sent from there. my actual wallet is tied to me in order to buy but nothing goes in or out, just rides.