Congratulations! Coincucks

Ah well, it's probably safer to treat it that way then.

Uncle Sam doesn't know about atomic swaps. Hell get my money now but next year? Hell have to. Change the rules.

irs.gov/pub/irs-access/f8824_accessible.pdf

Were you planning on filling this out for every trade?

So when you play world of warcraft, are you filing your taxes on the market value of the item you got and then AH'd out at an n% profit?

If not, why not? How is this any different? It's a virtual currency that trades with USD at a market price and you turned a profit. Pay your fucking taxes right?

Or maybe the entire thing is just absurd and they're desperately hoping idiots will shoot themselves in the foot and simultaneously fill their straining coffers?

If I were cashing out 100's of thousands of dollars in profit into my bank account trading world of warcraft assets I actually would be concerned about taxes and getting audited.

Go off shore or just move to Thailand....
...or both go offshore and move to Thailand

Enjoy spending your gains on ladyboys (yay) and live happily ever after.

Ok yep, you do owe taxes for selling things in games. KEK.

>Congress's U.S. Government Accountability Office (GAO), at the request of Senators Max Baucus (D-MT) and Orrin Hatch (R-UT), just wrote and filed a 23-page report on the tax implications of earning gold in MMORPGs. Seriously.

>Most likely any money that comes to you via whatever third party Blizzard has set up will be classified as income since, well, that's what it is. You sold something and made a profit from it. It is up to person, not Blizzard, to report income for their annual income tax, as Blizzard is not an employer, just a facilitator of the auctions.

steemit.com/steemit/@dana-edwards/world-of-warcraft-and-income-taxes

See this is basically what I'm getting at. You're also supposed to be liable for all barter trades you ever make, and a bunch of other completely unrealistic nonsense that never actually happens.

Burgers are just intimidated as fuck by their tax authorities because they're completely fucking psychopathic and they have so much law to back up any bullshit story they decide to press that at the end of the day no matter what you do, if they want to get you they'll fucking get you.

In my humble opinion the solution is obvious; Leave your shit tier country, renounce your shit tier citizenship, get yourself a nice alternative passport, and come join the rest of the world where largely speaking we're not pissing ourselves at the thought of the tax agency of the country coming around to royally fuck us for ridiculous things, or at least to the extent we are, we pick countries where we're less concerned that's the case in order to do business and reside, because only the fucking US and Eritrea have the watermelon sized balls to claim they have a right to tax you no matter where you reside or conduct your business solely on the basis that *they own you*.

Wake up burgers, look at the situation you're in. It's not ok at all.

>1CZXemeVxbXSsodFgRUZkpm5Y5YQN9VSV7
Examples of such countries?

the US can tax me, even if i move to another country?

I would only move to a non-extradition country.

Yes. As long as you're a US citizen.

http:// nomadcapitalist.com/2013/06/17/americas-bad-excuse-for-citizenship-based-taxation/

Dude you're *not a criminal* is the point I'm getting at (maybe you are for some other reason, but it's not because you trade cryptocurrencies on the internet and make a lot of money doing it). You are a fucking capitalist. Fuck the US for thinking that gives them the right to infinitely parasite from you. Why accept the burden? Shrug and let them burn.

Depends what you like really. Pretty much any country in the world is better than the US when it comes to shit like this though.

You’ve been watching too much kekistan state news. You wanna know what happens to people that don’t pay taxes in the US? You don’t pay shit until you get a knock on the door from the tax man telling you that you owe money (only happens if you know owe them a shitlload). As long as you show intent to pay them back they are happy to be flexible with you, and will even allow you to set up long term payment plans.

>Amerikuks

If the country allow extradition I'll be hauled back to the US to pay my taxes. You have to pick a non-cucked country

But I agree with you, mostly. The US is a wreckage slowly sinking to the bottom

Or you could just say "How about no? I don't approve of your shitty system and I'm opting out" is entirely my point.

If you've renounced your citizenship they won't even try.

While I agree with your point that it's pretty unreasonable to tax people in fiat for bartering or trading virtual goods, I don't agree that you should not comply unless you're planning on going WACO style and buying a bunch of guns and killing all authorities coming near you.

yo, fuck that. what is this rubbish

Why is it "submit to unreasonable rules or kill the psychopaths trying to enforce them on you" rather than "renounce your citizenship and move somewhere you will be valued rather than subject to vampirism"?

I don't understand that perspective.

Yeah I don't think I'll be voluntarily paying taxes on my Unknown Amount of Monero, thanks

How much is enough?

10% in the UK (for non wagecucks)

Fucking murica fags.

Because renouncing citizenship doesn't allow you to escape tax obligations. If they find out you were a citizen while you made those trades, they think they can still persecute you if you didn't pay tax. So you'd only get the downsides of having to go through the process of getting citizenship somewhere else, leave all your family and friends, but still not escape Uncle Sam's taxes.

>Persons who wish to renounce U.S. citizenship should be aware of the fact that renunciation of U.S. citizenship may have no effect on their U.S. tax or military service obligations (contact the Internal Revenue Service or U.S. Selective Service for more information). In addition, the act of renouncing U.S. citizenship does not allow persons to avoid possible prosecution for crimes which they may have committed in the United States, or escape the repayment of financial obligations, including child support payments, previously incurred in the United States or incurred as United States citizens abroad.

travel.state.gov/content/travel/en/legal-considerations/us-citizenship-laws-policies/renunciation-of-citizenship.html

The day I see them actually pursue a previously US citizen for trades conducted in a completely anonymous cryptocurrency whilst they were a US citizen and then liquidated in a zero capital gains tax jurisdiction *after* the renunciation of their citizenship where the exact source of said completely anonymous cryptocurrency is completely impossible to ascertain is they day they will have by definition proven that they will pursue anyone for any reason whatsoever without the slightest shred of evidence even by their own tortured logic that they have any kind of justification for doing so, and therefore their laws are similarly useless because they cannot even be relied upon as guidelines for what you ought not do as they'll simply ignore them and pursue you if they choose at any rate.

But then again, I'm not a burger, and I don't have to face this frankly kind of terrifying situation myself, so perhaps actually having this particular pitbull snarling at you in practice rather than as an abstract observer separated from the debacle entirely is something which makes you less inclined to taunt said pitbull. I can understand that perspective, although of course it just validates my highlighting the nature of said agency as just some ravenous pitbull out to mindlessly destroy whatever it points its snout at.

this is why i like those libertarian psychos in silicon valley—they'll stick it to the man

lmfao, pretty sure this applies to a bunch of countries though. You have to move + renounce your citizenship.

It gets even more complicated then that though, since the country will claim since you gained that capital while being a resident there you have to pay capital gains taxes before they will let you renounce your citizenship.

So you have to tell them to go fuck themselves and move to a no extradition country. At which point you can never enter your previous country again or they will arrest you for tax evasion.

YOU WILL HAND OVER THE SHEKELS GOY.

Or live like a "criminal".

Thats awesome
You cant buy a plastic knife
Pay 50% tax if you wagecuck
But capital gains are taxed 10%
Who the fuck even works in the UK....

Yea but that's literally overreach, if you go to the court in your new country the court will rule you do not have to pay taxes.

If you opt out you opt out. No if's or but's.

No. Only the US and Eritrea tax based on citizenship. Everywhere else in the world is based on residence.

Another thing is they actually fucking tax you for renouncing citizenship.

usimmigration.com/the-exit-tax.html

>If a foreign national has had a green card for 8 of the last 15 years, has a net worth of more than $2 million or an average net annual U.S. tax liability of more than $145,000 or cannot prove that they have paid all of their federal taxes in the five years preceding their expatriation, they are subject to the exit tax. Also, whatever assets sold before the date of expatriation, exceeding $627,000, is subject to taxation.

>The exit tax can be as much as 30 percent of your assets’ worth. For some, this equates to millions of dollars—if not more. It is all part of the federal government’s view of immigrants as cash machines and a way to increase tax revenue.

>Tfw I don't like in that ghetto ass shithole also named The United States of America

Have fun in the land of the """"""""""""""""free""""""""""""""""", I really hope you do since in a bunch of months you won't even be able to shitpost here anymore because of net neutrality AHAHA

BTC up like 400% ETH up like 800% all since Jan 01, 2017. Like 50 guys paid taxes on Crypto last year. The IRS is going to fucking UNLOAD on BURGERS. They go back like 10 years. Coinbase is cooperating... Kraken is cooperating... My buddy who works at IRS - "low tier" says daily conversations about it. On side note I did hear of a cheese pizza guy who got his wallet seized and gave up his PW had 42 BTC in it. Agent seized it because it was worth 12,000 at the time... They are shitting themselves now!

If you keep all your coins on exchanges would you therefore not have to fill because of the note under 7?

The status of my coin is theoretically unknown because I don't have the coin unless I withdraw it from the exchange and coinbase or binance could be using it the same way a bank operates.

Why do you have a buddy that works at the IRS? Kill him.

if you buy monero, the gubermint will still know you bought it, because exchanges will forward them the information (exchanges pay taxes too, you know?). Also, even you managed to buy anonymously, as soon as you trigger any tax event in real life (buying property or whatever), you will have to explain where the money came from. Do not try to BAMBOOZLE the Taxman, it will FUCK YOUR SHIT UP.

He's a cocksucker for sure but I knew him since 3rd grade so I'm stuck with him. No shit though he said they are pulling huge teams together to fuck with crypto fags.

Can't pay taxes if you don't cash out. Have fun going through my 600 pages of trade history.

yes because im gonna buy property with monero. fuck off IRShill

but im not an amerimutt kek

Other property does not mean trading crypto for crypto you mong.

Why would you think other countries give single fuck about the irs?

Another reason why i'm thankful to live in Canada. You're only taxed on 50% of your capital gains at your marginal tax rate. 40K gain = something like 3k in cg taxes... Not perfect but I'm not complaining either.

Yes it does. All cryptos are property. Trading crypto for crypto would be trading property for property.

Absolutely based, user. Which countries do you recommend? I fucking hate being a burger...

How about go fuck yourself? TenX my nigga. Don't have to pay taxes if you never cash out.

just write everything at a loss or for blogging (retard)

This. You have to be comfortable with never returning to Burgerstan again. Hell, if you owed enough money, even other countries could deport you to America if they have signed extradition treaties. An I right about this?

Capital gains is only 20% max

Cashing our my bong capital gains allowance of £11k a year, I don't care if it takes 10years to fully cash out, I'm not paying cgt.

No it doesn't.

How the fuck are they going to monitor literally billions of trades on Bittrex and other exchanges?

>trying to fud crypto with muh taxes
Yeah... because tax avoidance isn't one of the greatest strengths crypto has or anything

I'm just going to pay long-term capital gains, if and when I cash out.

Which in the US is only 15-20%

odd way to confess being gay

Well most people in Vietnam survive on $2200 a year, so it's safe to say your dollar goes a lot farther there than it does stateside