So I've seen a whole lot of posting on here implying people aren't paying...

So I've seen a whole lot of posting on here implying people aren't paying, or going to pay taxes on their crypto earnings. Is this actually the going consensus? Are the majority of users planning on a game of IRS roulette?

Taxation is theft m8, get over it.

NO STEP ON SNEK!

>roulette

Implying the odds are stacked in the IRS’ favor when they have literally billions of trades to track and trace back to the owners, making it borderline impossible to enforce. Get fucked.

this

of course not. everyone is paying their taxes. why would you think the majority aren't that's just crazy. that dumb statistic of only 800 people filing in 2015 makes sense to anyone who was here in 2015 because there were probably only that many people with gains over $600

Yeah, but I'm looking at it more from an 'assume success' point of view. What happens if you make enough to afford a nice house and a good car. How are you going to explain that against your NEET life when they notice your spending and credit are totally at odds with your income?

Be a good goy and do your taxes

>Everyone is American

Anyway, if I was, I wouldn't declare sweet fuck all.

>Paying money to import third worlders into your nation to outbreed you

Yeah... nah mate I'm good

I've worked at a shelter and seen the type of people who are """refugees""" in my country. Fuck that. They turn their noses up at expensive donated food items because the packaging is a bit crooked, etc.

I'd rather die than pay taxes

Sadly I was audited last year. And they claimed that I used my HSA card for non-medical transactions... However, the transactions in question were for my hospital expenses from my child being born. Since they were only requesting $200, I paid it, but they are completely inept.

Well I don't have to pay any tax now, instead I get a sweet write off! Thanks Jihan/Ver/Coinbase!

The audit was a letter asking for $200? Or they actually requested all of your records?

I'm paying my taxes, not paying just gives them another reason to fuck with us. Btw if you don't pay and get audited have fun paying the original capital gains plus the massive interest they are going to tack on.

Word is they are going to work from the coinbase database. I have a friend at IRS that says they are already cross referencing the data with past returns. This is the year cryptotraders get fucked.

>Cross referencing the data
>past returns

Literally makes zero sense. Your dumb friend is larping irl, the saddest kind of larp.

How does one even pay taxes on this shit?
Everythime there is a trade for usd?
Everytime you trade for another shitcoin?

Somebody please tell me

Ya this is what gets drug dealers. You don't just get all this money and neat shit and pretend like it just fell into your lap.

The IRS will eventually get you.

No one knows, you'll get double taxed anyways and thrown in jail regardless. America just doesn't like crypto apparently, makes me want to flee to another country.

I have nothing to pay taxes for anymore.

Bitcointax is a website that will help us out, but damn I don't want to pay taxes. Cash out to pay those taxes and then have to pay taxes on what I cashed out.

of course I will pay my taxes

I am after all a professional crypto trader

>buy anonymous coin
>claim you got hacked


Day trader who dodged 200k worth of taxes reporting

How does that even.. what?

Taxation is your membership fee to the nation that sustains you and your ability to make money off of crypto via its infrastructure.

Get over it, ancaptard.

Taxation ruins growth, this ecosystem needs to be grown. Our fucking congressmen are old and can't possibly understand that crypto is the future.

Explain how you have 1mil in your bank account...

Or are you flying to a Bitcoin ATM to dribble cash out?

if have to be smart about how you deal with the tax issue. If you made 500k + in crypto and you plan to never bring it into your bank account, The IRS is going to have a hard time finding out how much money you have. It only starts caring if you say you have a 50k salary and buy a ferrari.
At which point, my plan to "avoid" HAS always been, take the crypto earnings by rental property and write off losses like crazy.

If you have a sizeable crypto portfolio hire the best accountant / lawyer you can. They will be well worth the money.
Of course most people are cucks and wont think to use these professionals as weapons

> implying we haz 3th world country tax dictator.

I live in a free country u fool

>make money off of crypto via its infrastructure.

right, the infrastructure, like privately owned exchanges, and privately owned internet providers. get a grip, man, you're the tard
falling for lies. you're cattle paying ransom to bullies.

> But muh social contract!
> but who would build da roads?!?

retard alert

IRS subpoenad records from coinbase already.

maybe if you are only using some chink/pajeet 3rd world exchange or just buying coins off craigslist you can avoid taxes.

otheriwse youre fucked lol

... How the hell do you explain "yeah I bought 500k worth of rental property with my 50k salary"?

And no banking docs/loans to explain it.not snark genuinely interested how you think that'd fly

i already paid, and will pay again.

IRS is no joke for non-neet amounts

he cant and he will even get caught before that.

IRS has all the records from coinbase for example

They can see that he bought btc for say 1k.

Now if that btc is worth 200k at current prices he has massive unreported capital gains and they will lube him up for the shower

well i have dual citizenship. Best investment ever in my opinion. But there are a number of ways to buy property secretly land trusts come to mind.
Flying down to cayman islands/turks and cacaos and setting up an shell company and having said shell company buy your property also comes to mind. You can buy shell companies for a couple thousand.

Like i said, get a good accountant/lawyer not these hr block motherfuckers.
LOL, You think people like Trump goes to a cornerstore accountant down the block. Truly wealthy people focus on wealth preservation and tax avoidance.

>login to account on tor
>buy monero
>transfer off account

wow

you clearly dont know how capital gains work. Capital gains only work once you sell fucktard and even then why are you keeping your shit on coinbase. Once i buy bitcoin, it comes off coinbase almost immediately

Pretty sure this is what the Chinese and ruskies we're doing in San Fran, Vancouver/Miami etc to launder money... Actually specifically a reason for Bitcoin growth.

Think Interpol is looking dude, and OGAs under possible RICO or GWOT approvals. Just watch your ass.

what's up with charities?
how does that come into taxes?

>pyramid scheme
>gains
The majority will be able to declare a loss and save taxes.

>implying everyone here is 'murrican
>pay taxes
nigger please I am from Eastern Europe we don't do that tax shit!
>tfw even my car is stolen from some poor germcuck

in canada we don't pay taxes on gambling winnings

and what we're doing is gambling

so no taxes

how does it feel to live in the land of the free?

>Using centralized exchanges to track trader trades.

Think normies would say fuck it, or would they keep trying their hand at this digital gold rush?

governments around the world arent really for crypto and honestly they dont realise what it really means. The low iq neets will still pay their taxes. but you;ll have people who will be amassing a fortune in crypto, who keep their money in crypto much like zuckerberg/gates keep their fortunes in stocks and only sell a small portion at a time to buy things.

...