lilredrooster
lilredrooster
Joined: May 8, 2015
  • Threads: 174
  • Posts: 3594
June 9th, 2021 at 4:36:22 AM permalink
..............


crypto tax cheats


not reporting capital gains





from the time before the IRS began to monitor and track transactions

if there was a way to actually find out how many

I'd be willing to bet - I'd price it this way:






thousands but not 10,000.......................25/1


ten thousand or more but not 100,000..................9/1


100,000 or more but less than 1 million..........................2/1


more than one million...............even money






in America tons of people looking to get over





they knew it was illegal - but if called out would feign ignorance







it's the American way










*
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
  • Threads: 183
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June 9th, 2021 at 6:02:29 AM permalink
Quote: lilredrooster

it's the American way


A former boss of mine once said to me, “What’s the point of owning a business if you can’t steal money from the government?”
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ ————————————————————————————————————— Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
ThatDonGuy
ThatDonGuy
Joined: Jun 22, 2011
  • Threads: 99
  • Posts: 4758
June 9th, 2021 at 6:26:04 AM permalink
Quote: lilredrooster

..............
crypto tax cheats
not reporting capital gains

from the time before the IRS began to monitor and track transactions
if there was a way to actually find out how many
I'd be willing to bet - I'd price it this way:
thousands but not 10,000.......................25/1
ten thousand or more but not 100,000..................9/1
100,000 or more but less than 1 million..........................2/1
more than one million...............even money

in America tons of people looking to get over
they knew it was illegal - but if called out would feign ignorance
it's the American way


True...otherwise, why would anyone bother with VP machines that "just happen to" pay 1199 for a Royal?

I wonder what the number is if you limit it to people who make more than a certain amount...say, $100,000 or more.
rxwine
rxwine
Joined: Feb 28, 2010
  • Threads: 169
  • Posts: 10080
June 9th, 2021 at 7:28:17 AM permalink
Quote: lilredrooster

..............


crypto tax cheats


not reporting capital gains





from the time before the IRS began to monitor and track transactions

if there was a way to actually find out how many

I'd be willing to bet - I'd price it this way:






thousands but not 10,000.......................25/1


ten thousand or more but not 100,000..................9/1


100,000 or more but less than 1 million..........................2/1


more than one million...............even money






in America tons of people looking to get over





they knew it was illegal - but if called out would feign ignorance







it's the American way










*



It’s a topic for another thread, but would the IRS really come out ahead if accurate gambling’s winnings were done for everyone? You have to know if the number of evaders exceeds the number of people who could’ve taken a deduction. I think it favors one side more, but I’ve been surprised before when the real stats come out. Though we will probably never know.
Quasimodo? Does that name ring a bell?
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 179
  • Posts: 10651
June 9th, 2021 at 8:59:57 AM permalink
I'm not sure at what level not reporting income turns into a felony, but with the rise in the value of bitcoin, even selling one or two of them without reporting it will be felonies, and I would think the IRS will be looking to make a few public examples in order to get others to "volunteer" their information. I also have been told crypto is not nearly as anonymous as most people think it is. Others tell me that isn't true but that is a risk I don't have to worry about.
OnceDear
Administrator
OnceDear
Joined: Jun 1, 2014
  • Threads: 46
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June 9th, 2021 at 9:40:43 AM permalink
Quote: billryan

I'm not sure at what level not reporting income turns into a felony, but with the rise in the value of bitcoin, even selling one or two of them without reporting it will be felonies, and I would think the IRS will be looking to make a few public examples in order to get others to "volunteer" their information. I also have been told crypto is not nearly as anonymous as most people think it is. Others tell me that isn't true but that is a risk I don't have to worry about.

Coinbase have confirmed that they have given lots of transaction data to the IRS. This is the weakest link in BTC anonymity and evasion.
Take care out there. Spare a thought for the newly poor who were happy in their world just a few days ago, but whose whole way of life just collapsed..
DRich
DRich
Joined: Jul 6, 2012
  • Threads: 76
  • Posts: 7370
June 9th, 2021 at 10:34:40 AM permalink
Quote: OnceDear

Coinbase have confirmed that they have given lots of transaction data to the IRS. This is the weakest link in BTC anonymity and evasion.



Very true. Anyone using Coinbase or another exchange and trying to stay anonymous is an idiot. If you want to stay private you must maintain your own wallet.
Order from chaos
RogerKint
RogerKint
Joined: Dec 5, 2011
  • Threads: 15
  • Posts: 1906
June 9th, 2021 at 10:48:46 AM permalink
Quote: DJTeddyBear

A former boss of mine once said to me, “What’s the point of owning a business if you can’t steal money from the government?”



The government has money?
100% risk of ruin
OnceDear
Administrator
OnceDear
Joined: Jun 1, 2014
  • Threads: 46
  • Posts: 5135
June 9th, 2021 at 11:04:07 AM permalink
Quote: DRich

Very true. Anyone using Coinbase or another exchange and trying to stay anonymous is an idiot. If you want to stay private you must maintain your own wallet.

Hmmmmf.... I maintain my own wallet. But to convert to and from fiat is not so easy without using either an exchange, or a fiat transfer service like paypal.
Take care out there. Spare a thought for the newly poor who were happy in their world just a few days ago, but whose whole way of life just collapsed..
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 256
  • Posts: 8116
June 9th, 2021 at 11:37:21 AM permalink
Quote: DRich

Very true. Anyone using Coinbase or another exchange and trying to stay anonymous is an idiot. If you want to stay private you must maintain your own wallet.



Correct which totally destroys the argument only criminals are interested in Bitcoin to protect their anonymity
For Whom the bus tolls; The bus tolls for thee

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