Looks like IRS will be coming after tax evaders

in bitcoin •  7 years ago 

image.png

Well it looks like the IRS is putting together a team to just go after crypto tax evaders. They are assembling a 10 member team to handle this for them because it is a huge issue. The IRS has stated that only 802 people have reported cryptocurrency gains or losses for their taxes in 2015. Obviously this isn't very many people when you think of the millions of people in the cyrpto world. Also they have a list of around 14,000 people from Coinbase that have deposited or withdrawn $20,000 worth of cash in 2017. So, at the very least these 14,000 people better report their losses and gain in 2017. I am going to predict next year the IRS will be able to summons accounts with $10,000 deposited or withdrawn. So, in 2018 the list should get a lot bigger. People in the US need to report your taxes. Tax evasion is not taken lightly. Please check the article out here: https://cointelegraph.com/news/irs-forms-new-team-to-track-down-crypto-tax-evaders

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thank you for the post. I read it with pleasure. I like your posts, thank you very much. I admire your work,

The only way this can be achieved is government regulating crypto currency which has defeated the whole essence