"Why or why not?"
cryto currency is held in an anonymous code of letters and numbers. only people who identify with a name or corporation are legally or voluntarily liable to pay. - Yep.
McAfee fled the country to avoid paying his taxes but I'm just not wealthy enough for all that. I've paid mine for two years because if it's money earned (or lost) it's reportable. Why behave like IRS tax laws don't exist when you know they will catch up to you eventually? - Yeah, to most I think they would just pay off the taxes for ease of mind. 😊
Do not try to avoid your taxes ! - There are 2 unavoidables in life: death and taxes. 😂
They got the system. I believe only three places can tell us who is the creator of Bitcoin: the USA Security Exchange, Canada OSC, and the Vatican. If Bitcoin symbol is a number 13 with the lines of a dollar $, meaning the death of fiat money in the world, and people have to ask permission to create a new coin (like Facebook is doing it now), then for sure the system is under control. Very Unfortunate! No matter what, there is no freedom in the world, mainly in USA. Developers should know for whom they are working and they dont want to tell us. Bitcoin has become a secret hermetic system controlled by those on top. - Conspiracy theoriesss... Possible. 🤔
Avoid trouble better to be legally trading. - Agree. 😬
I am tired of paying taxes. - Who isn't?! Think about it, a simple 20% tax rate means you're essentially working for free for the first 2+ months. 🤯
Because they can't catch me. - Loll gonna be hard to keep avoiding.
Happy tax man happy life - Preach lmao. 😂
Sooner or later Uncle Sam will catch up with you. Just pay your taxes and have no problem - Hate that dude lol.
I honestly dont know. I've seen what coinbase has on file about me. Shoukd be ok. Curious about other ways of buying coin (ATM's, overseas exchanges, etc.) and how they will be added in. - Yeah, ATMs
Don't have to pay taxes if you don't sell 😉- This should be a meme.
Ofcourse I could. I mean there are always ways to hide your money or crypto. But I won't. I am just going to pay my taxes fairly. I am not greedy and once you caught you always have a 'tick' on you. - Pay taxes and rest easy lol.
Not a chance matey. If the state doesn't know who has what right now rest assured they will in the future. If you don't pay tax due now you can be dead certain at some point in the future you are going to be hit with a bill. - They always get ya.
don't have the financial clout to store in an off shore tax haven. Once the tax man sniffs revenue they'll be all over it. If your a spread betting type trade in the style of fx trades or similar than yeah in UK thats fine, no tax due, but buy and hold traders may be subject to tax regulations, but not clear to me yet what this entails - There needs to be more clarity on crypto taxes, and until that happens make it tax free! 😬
How will they get their info? If you use offshore mining co how will they know? only data from exchanges? What if you use offshore exchanges? and only local to flip to fiat when needed? Will they audit all your wallets? As usual greedy government wants, but they lack the insight to do so properly. Plus, i will happily pay taxes on crypto as soon as they embrace it and make using it easier. Taxes on crypto seems like a step in embracing it. also will there be tax refunds if you loose? - Def many unanswered questions. Personally, I don't see how the govt can track things if you were to use a mixer. 🤔
IRS letters are a fishing expedition, they try to scare as many people possible into paying voluntarily so they don't have to do anything. Why? Because they have bad data. They just don't know. It's just a poker party, so i don't call the bluff! - Lol! Possible. If you get caught though...
i don't think its a good idea. if we can estimate the taxes we should.. may be we hide some crypto profit, but no tax at all is not a good idea. - Good point. It would be more sensible to pay a lil.