IRS just sent me an $23k tax bill

[Anonymous No.15071432]

WTF IS THIS SHIT?

This is a joke right? How the fuck can they be billing me from my ATH highs in 2017?? I would have to sell all my crypto and take out a fucking loan to pay this off, how is this legal??

[Anonymous No.15071440]

>>15071432
>I would have to sell all my crypto and take out a fucking loan to pay this off
they do accept credit cards

[Anonymous No.15071461]

>>15071432
pay your taxes dog or uncle sam gotta bend ya over da barrel

[Anonymous No.15071489]

OP how much did you make in 2017? i am genuinely curious.......did you trade on coinbase?

[Anonymous No.15071502]

>>15071440
>>15071461
fuck that, and fuck the IRS, I am not paying this shit

>>15071489
coinbase and binance and I made a shit ton in 2017, like $150k+, but like most on this board have lost most of it since.

[Anonymous No.15071508]

>>15071432
5k in penalties and interest LUL should have paid your taxes kiddo

[Anonymous No.15071522]

>>15071502
Did you ever convert to fiat? Did you ever transfer to your bank?

[Anonymous No.15071525]

>>15071432
You've got 4 weeks bro. Just be yourself.

[Anonymous No.15071528]

>>15071440
this.
mail them your credit card + a note inside with the pin, on the note also write "no good with numbers, take what you need, love Anon". write with your left hand after a couple of beers and use crayon.

[Anonymous No.15071531]

>>15071432
Holy Shit. Thank god I'm not a burguer.

[Anonymous No.15071542]

>>15071502
enjoy serving jail time you little rebel you

[Anonymous No.15071547]

>>15071432
Oooof.

[Anonymous No.15071555]

>>15071432
Did you cash at all during 2017?

[Anonymous No.15071561]

shoulda paid your taxes, ya goy bastid

[Anonymous No.15071563]

I guess we need this fake ass economy to crash sooner than later. ideas?

[Anonymous No.15071568]

>>15071542
You can't go to jail for owing taxes.

[Sage No.15071574]

>>15071528
Fucking kek. Do this.

[Anonymous No.15071579]

>>15071432
Nice fud, still not selling.

[Anonymous No.15071582]

>>15071432
Can't you arrange to pay it of structured in installments? I wouldn't pay it though, especially if you can't afford it. Might as well go to jail, keep your money in crypto, hope it m00ns while you're serving jail time and leave the country when you're rich.

[Anonymous No.15071589]

>>15071432
You know that if you weren't greedy you could have sold it through local bitcoins and taken cash right at a little bit less then market value? It would have taken some time sure but tax evasion takes time

[Anonymous No.15071616]

>>15071432
Dont pay, fuck IRS!
Don't pay until the last air of your soul.
Even if it needed to move out of USA, but don't pay.
It's not fair with you, you don't own nothing to them.
FUCK IRS, they're theft who have government power, all government are theft,

[Anonymous No.15071649]

(Pic related, paraphrased FB post by irs)

[Anonymous No.15071661]

>>15071432
gg OP

[Anonymous No.15071680]

>>15071432
i normally don't help people online like this, but i'll help you out. the irs calculates these amounts based on the gross sell price reported to the irs. if you paid $5000 for BTC, sold for $10,000, they will say you made $10,000, multiply your tax rate (lets say 25%) and charge you $2500 tax liability. it's your responsibility to file an amended 2017 return, report the appropriate cost/basis, and you will owe much less. you need to contact a CPA immediately, and provide your cost/basis information to them. the tax liability wont be as bad, but the ball is in your court.

[Anonymous No.15071687]

>>15071432
If they know how much you make when do they bother making you fill out your taxes? Why not just send you a bill?

[Anonymous No.15071695]

>>15071432
Answer the goddamn question
>>15071522
>>15071555
If you cashed out without paying your capital gains tax, that's on you.

[Anonymous No.15071709]

>>15071687
see my response above... the amounts you owe are based on gross sales only. basically, the irs forces you to file an amended return, becuase their calculation doesn't include the most essential deduction (which is cost/basis)

[Anonymous No.15071712]

White men are the only demographic required to pay taxes. We should all stop paying and watch the country fail.

[Anonymous No.15071716]

>>15071680
I think he traded it on coinbase, then used the proceeds to buy another crypto.
He's really fucked.

[Anonymous No.15071725]

>>15071712
based

[Anonymous No.15071743]

>>15071568
Tell that to Wesley Snipes

[Anonymous No.15071746]

I don't understand this. Since when does the IRS tell you how much you owe? Did you falsely report or something? If you didn't report at all, they should just be sending a notice, not a hard number.

[Anonymous No.15071767]

>>15071716
if thats the case, RIP
every day i lurk and see some really bad tax advice here, especially in the 2017 bull run. it's funny anons thought they could get rich and handle the tax part by themselves. if you make tens of thousands with some exotic income, hire a cpa don't be a dumbass

[Anonymous No.15071771]

>>15071712
extremely redpilled tbqhwuf

[Anonymous No.15071778]

>>15071746
They send out letters with the highest possible estimate to scare you when you don't pay your taxes.

[Anonymous No.15071782]

>>15071432
Fuck the taxman.

[Anonymous No.15071786]

>>15071528

fuckin kek

>Do this OP

[Anonymous No.15071793]

>>15071712
This

[Anonymous No.15071801]

>>15071432
Seems fake

[Anonymous No.15071807]

>>15071743
He didn't get sent to jail for fraud not debt. Check your facts.

https://tax.findlaw.com/tax-problems-audits/can-you-go-to-jail-for-not-paying-taxes.html

[Anonymous No.15071810]

>>15071432
fuck that. move your crypto out of US exchanges, and move out of the US.

[Anonymous No.15071814]

>>15071432
These tax bills are going to force everybody to hold their bags.

Bullish.

[Anonymous No.15071815]

Did coinbase tattle tale?

[Anonymous No.15071819]

>>15071778
So if you pay the amount quoted they will leave you alone with no questions?

[Anonymous No.15071862]

OP here, I ragequit for a bit, now I am researching tax specialists to go for a consultation, this shit is so fucking unfair, I never even cashed out but they are charging me for whenever I sold one type of crypto to buy other crypto.

[Anonymous No.15071868]

>>15071432
>26 days for a shutin to find $24k
Based taxman practicing population control

[Anonymous No.15071870]

>>15071814
This. I don't even sell anymore.
t. Burger

[Anonymous No.15071886]

>>15071819
yes but in this case the quoted amount is probably at least double what it should be. maybe more

[Anonymous No.15071892]

>>15071502

youre going to jail

[Anonymous No.15071893]

>>15071819
I don't actually know. People usually want to get it fixed and pay the lower amount. I don't actually do taxes. I just help file the electronic forms.

[Anonymous No.15071898]

>>15071862
There was a loophole before 2018 where crypto was treated as property and wouldn't be taxed if you traded property that was alike to each other. The IRS shouldn't be treating every trade a taxable event before 2018.

[Anonymous No.15071919]

I also got a letter today. The thing is, I DID pay taxes on my gains like the good goy I am. Coinbase reported the gross payments they made to me via a Form 1099K Payment Card/Third Party Transaction and the IRS thinks this is Self Employment income I made on the side. As if I acquired my coins for $0 and held less than a year. I documented all of my trades on form 8949 but the IRS doesn't realize the Coinbase payment was the capital gains I reported.

[Anonymous No.15071920]

>>15071712
It’s true. No one else gets taxed and sucked dry like we do

[Anonymous No.15071921]

AMERIKEKS GOING TO PRISON

[Anonymous No.15071935]

>>15071921
amerimutts going to fucking leave

[Anonymous No.15071946]

>>15071920
So what are you doing about it? Know any good tax specialists to talk to? This is bullshit and it makes me so mad. It's also really stupid how short a period of time they give you.

[Anonymous No.15071959]

>>15071801
it's real, other people are getting similar letters, see
>>15071919

[Anonymous No.15071963]

>>15071919
this is fucking horrifying, some retarded kike boomers can destroy your life and mental health because they don't even know the rules on crypto taxes, fucking scam system
>you better wagslave like a good goy and don't try to make any more money on the side or you're going to jail

[Anonymous No.15071965]

>>15071919
how many fucking people got letters today?

[Anonymous No.15071966]

>>15071919
I expect my letter is coming soon then. I've reported every year.

[Anonymous No.15071974]

>>15071946

>short a period of time they give you

boi he cashed out on 2017 it's now fuckin 2019 about to be 2020 that was plenty of time he should have just paid the taxes and not been a faggot about it

[Anonymous No.15072004]

how fuck am i if i never cashed out?

[Anonymous No.15072022]

>>15072004
if you never sold or traded for other crypto on exchanges with KYC you should be fine for now

[Anonymous No.15072023]

is this letter only for people who cashed out? Cause ive never cashed out & only bought a few hundred on coinbase & the rest on a no kyc bitcoin atm to my binance account

[Anonymous No.15072050]

>>15071432
Did you receive a 1099-K from Coinbase?

[Anonymous No.15072073]

>>15071919

>>15071919
> pay your taxes anon
> be a good citizen anon
> you will go to jail anon
Never trust the government… ever! They will always try to fuck u. Don't be a cuck.

[Anonymous No.15072086]

>>15072022
checked and relived. I swung on binace but stopped before the kyc stuff like 6 or 7 months ago. Moved all my shit on there to cold storage and now just buying and keeping my new stuff on coincuck

[Anonymous No.15072104]

>>15071432
You made a profit on a crypto to crypto transaction, pocketed Uncle Sam's cut, then proceeded to gamble away his money. Good job.

The 2017 new year's crash was a lot of people cashing out enough to do what you didn't.

[Anonymous No.15072127]

Protip: don't have to pay taxes is you buy high sell low

WHO'S LAUGHING NOW, FAGGOTS

[Anonymous No.15072134]

Hilarious

With love, stock boomers

[Anonymous No.15072140]

>intrayear taxation on capital gains
kek, welcome to being an adult

btw you can just juggle it into your capital losses from 2018, don't sweat it

[Anonymous No.15072175]

>>15071432
Wasn't planning on jerking off but I really do enjoy seeing mutts getting fucked so I think I'll rub one out to this letter, thanks OP!

[Anonymous No.15072275]

Lmfao @ this thread hahahahaha

[Anonymous No.15072294]

>>15071432
Burger here.

Should I neck myself? I never sold anything but I used Jewbase and Binance.

I haven’t sold one penny yet but I’ve made a ton of trades. In total I’m down 20k

[Anonymous No.15072311]

>>15072294
when you buy eth with btc the IRS treats that as you selling your btc

[Anonymous No.15072318]

Is a crypto trader still a wagie? Its important that i get the terminology right when taunting someone.

In any case, pay your fucking taxes so i can get my neetbux!

[Anonymous No.15072339]

>>15072294
if you're selling it for less than you bought it for you're probably fine

If you bought $100 worth of eth and it went up $20 and so you bought $120 worth of btc then you have to pay taxes on $20, if i understand correctly

[Anonymous No.15072349]

>>15072311
So is that a 20% capital gains tax right there?

[Anonymous No.15072355]

>>15071432
Don’t fucking pay, they can’t arrest us all if we all don’t pay.

[Anonymous No.15072417]

>>15072355
You understand that they easily can arrest all of you, right? There are a fuck of a lot of police in this country, and they all have guns.

[Anonymous No.15072440]

>>15072355
yes they can

[Anonymous No.15072441]

>>15072355
I'm sure they would love to arrest everyone and put fear in everyone to not use crypto lol

[Anonymous No.15072452]

CPA here
Just chiming in to say a big fucking FUCK ALL YOU SACK OF FUCKING SHITS
Saying you won't pay tax this and that go fuck yourselves you faggots pieces of shit
I reported every fucking penny and sleep well
They are coming for you worhtless sack of shits
They will find you all
I moved to PR so its all tax free
Land of the FUCKING FREE Fuck you europoor sack of shits
Suck my dick
Buy link

out

[Anonymous No.15072476]

>>15072417
If they want a generation to lose even more trust and be ready to grab up guns and shoot public officials, sure they should go for it

[Anonymous No.15072477]

>>15072355
They only sent out 22,000 letters. They can easily arrest everyone.

[Anonymous No.15072481]

>>15071432
>>15071919

btw did you guys also get that other letter, the 6174-A? Or they just straight up sent you a bill like this?

[Anonymous No.15072495]

>oy vey, look at all these goys who didn't willingly sign up to be college debt slaves
>I've got the perfect plan - we'll make them tax debt slaves

[Anonymous No.15072505]

>>15072476
Teenagers will just see you guys as greedy tax evaders. The only thing that the government will get from this debacle is your guys' money.
Sorry bro, I don't know what you want me to tell you, I'm a libertarian.

[Anonymous No.15072507]

>>15072481
It's not a bill, learn to read

[Anonymous No.15072518]

>>15071432
Rekt

[Anonymous No.15072522]

>ughh wow we really need more tax revenue to give to Israel!
>hmm let's lower corporate tax rates and just send 5 figure tax bills to thousands of retarded NEETs who can't afford them and ruin their lives lol

Tired of winning yet pedes? #MAGA

[Anonymous No.15072534]

>>15072476
We are already so sick of them that we elected a meme prez. Just vote for anyone that will pull us out of the middle east completely because the entire US economy will shit the bed and we can be free of these vampires.

[Anonymous No.15072543]

>>15072507
uh, it's basically a bill, regardless of what it says, unless you think the IRS is going to change its mind about their "proposed changes"

[Anonymous No.15072544]

>>15072477
>They can easily arrest everyone.
They want you to think that, truth is, they lack the human resources to do that. Public institutions currently run mostly on story telling and fear mongering. Going full authoritarian on a bunch of Neets trading imaginary internet monies is the perfect recipe for PR disasters and laying the ground work and myth for a civil uprising. Imagine Boomers public workers getting shot sitting in their chairs, police stations pipe bombed and local public officials getting beaten to dead bringing their kids to school

[Anonymous No.15072569]

>>15071568
Fucking lies. Tell that to Irwin Schiff https://en.wikipedia.org/wiki/Irwin_Schiff

[Anonymous No.15072571]

>>15072477
first it was 10k now it's 22k? Tomorrow it'll be 1m

[Anonymous No.15072575]

>>15072505
>Teenagers will just see you guys as greedy tax evaders.
>t.Boomer realizing his 401K will not get filled an he will die in poverty or hung from a lamppost.
Your generation fucked up, we will not get robbed. Siege is a good night story against what the next 5 years will bring. As soon as the narrative breaks, their is no security anymore

[Anonymous No.15072584]

>>15071810
Where are the best places to live with actual freedom? Preferably English speaking and white.

[Anonymous No.15072610]

>>15071919
> Take 2 years to review your tax form
> Charge you 1,081 in interest for their delay
This is satire, you burgers should just >>15071712

[Anonymous No.15072616]

>>15072452
>Fuck you europoor sack of shits
these notices are us only.

[Anonymous No.15072641]

Where are all those fucking faggot pieces of shit saying taxation is theft and not paying apenny now. Fuck you sack of shits. IRS gonna find EVERY SINGLE ONE Of your shitcoin trades its on a public transparent ledger. Binance will bend the knee. Get fucked you tax evaders.

[Anonymous No.15072660]

>>15072641
The IRS just created 22.000 people that will be willing to kill and abandon the state. well done, they run right into trap

[Anonymous No.15072671]

I know you fucking sack of shit. I said PR then Land of the Free since its tax free - hence fuck u europoor sack of shits. Learn to read faggot.

[Anonymous No.15072677]

>>15072349
If you held it short term (less than a year), then you pay your marginal income tax rate.

If you have earned less than $38000 (double if you're married but let's face it, you're not) in wage bucks then your long term capital rates are zero.

[Anonymous No.15072687]

>>15072671
Thanks for the internet the possibility to run automated social bot propaganda campaigns to radicalize 22.000 people against your land of the jews, and home of the Boomer traitors

[Anonymous No.15072705]

>>15072660
a bit hyperbolic but there's some truth in it

so many people barely have anything to live for and are already on the brink of financial ruin and now they're going to have a life-ruining 5-figure bill dropped on them for playing with buttcoins years ago

lol

it will be interesting to see how it plays out

[Anonymous No.15072707]

>>15071919
>if you don't agree with the proposed changes
>Complete the response form on page 7, send it to us along with a signed statement explaining your disagreement and include any documentation that supports your claim so we receive it by August 28, 2019.
Pretty easy anon, just write them the following statement:
AHEM! *TING TING* I HAVE AN ANNOUNCEMENT!
FUCK NIGGERS FUCK NUGGETS FUCK NIGER FUCK JEWS FUC KYLE FUCK WOMEN FUCK STACY FUCK FUCK UGLIES

[Anonymous No.15072719]

>>15072349
Yes. It's absolutely fucking retarded how crypto is taxed in the US.
Lets say you buy $10,000 of BTC and it goes up and now you have $100,000 and convert that to some shitcoin.
If said shitcoin now goes to zero not only do you have no money but you also owe $50,000 in taxes.
God bless america.

[Anonymous No.15072723]

>>15072641
You literally don't understand what crypto is if you think transactions on an exchange are on a public transparent ledger

[Anonymous No.15072725]

>>15072544
This is the truth and why weed is being legalized

[Anonymous No.15072728]

>>15072687
fuck off

[Anonymous No.15072730]

>>15072719
If you sell that shitcoin you can claim losses and cancel out that gains tax, tard

[Anonymous No.15072733]

This is why you cash out by buying visa gift cards and not transferring them to your bank

[Anonymous No.15072734]

Vote McAfee you americunts

[Anonymous No.15072749]

>>15072723
You really dont understand public transparent ledgers if you think you cant trace 10,000x shitcoins to binance then to your own personal binance wallet and see 100,000x other shitcoins. Lmao you dont know shit about blockchain. Took IRS 2 years to get to 2017. Gonna take them 2 more years but they will get to it eventually.
So anon we see you traded all these shitcoins to this binance wallet.
>500,000 tax liability
Get fucked faggot. Theyre coming for you.

[Anonymous No.15072751]

>>15072705
>Hyperbolic
not the slightest. If anything I underestimating it. Take the DNC and their corporate whores radicalizing the other side of the ail, thousands upon thousands scammed with muah higher education loans, a generation of far right radicalized /pol/acks that are trained in propaganda and redpilling and in between Boomer Joe public worker who expected to have another 30 years living on a tax dime.

1930's Germany will look like a piece of cake against what the US is about to experience

[Anonymous No.15072755]

>>15072023
For those who traded too, even if you made a loss. That's what's so fucked

[Anonymous No.15072758]

>>15071919
>>15072481
This is the only thing I've gotten so far.

[Anonymous No.15072778]

>>15072023
I believe you had to have had bought/traded a certain amount on Coinbase to get the letter. Like $10k or $20k minimum

[Anonymous No.15072787]

>>15072728
You scared? Leave the country. There will be no pity for somebody born between 1945 and 1985, everybody over 40 is just easy prey for the hungry

[Anonymous No.15072807]

>>15072707
Based

[Anonymous No.15072815]

Realistically, you can claim any losses you made previously to offset your gains, and also claim internet bills, phone bills, power, a home office and more.

Find a decent accountant who will ammend previous years to include losses that will offset this tax bill and get you some cuts using the aforementioned thing.

The cost of this accountant can be claimed when doing next years tax.

[Anonymous No.15072822]

>amend that shit by reporting your cost basis
it's a shitty tactic but as the note says, it's not a bill. you have to correct their retarded boomer workers and show them why you don't owe them that.

[Anonymous No.15072825]

>>15072730
Nope. According to the IRS you cashed out when you "sold" BTC for shitcoin so you owe gains tax.

[Anonymous No.15072845]

>>15072825
yes but like he said if that shitcoin went to 0 and you sold it for said 0 then i cancels out your btc tax, the problem is that most people sold their shitcoins AFTER Dec 31st 2017 and that's why they are fucked with their artificial gains from that year that no longer exist

[Anonymous No.15072863]

Is monero the solution?

[Anonymous No.15072883]

>>15072730
Not if it carries over tax years, faggot. I.e convert in 2017, sell in 2018. You can only claim $3k a year in carry over losses.

[Anonymous No.15072884]

>>15072825
U need an accountant tant fern if that’s how u think it works

[Anonymous No.15072905]

>>15072845
>find a few erc20 coins from 2017 that were going down in certain time periods in december
>doctor some etherdelta records showing how you lost money during 2017
>they literally have no way of disproving your records

if the irs is going to play dirty with unjust laws it only makes sense to fight back JUST to be treated fairly.

[Anonymous No.15072906]

>>15072884
but that it is how it works now though. Converting your shitcoin #1 into shitcoin #2 is considered you realizing a capital gain/loss

fucking gay obviously but the IRS must squeeze every dime out of every poor person it can

[Anonymous No.15072907]

Fully licensed CPA here. I will calculate all your cost basis, amend your return, and calculate any rollfoward losses and basically unfuck your entire situation.
Cost is $2,500 non-negotiable. If you are interested I can provide my email. You will save $2,500 just by allowing me to unfuck your shit, I'll get rid of the interest and penalties.

[Anonymous No.15072914]

>>15072845
Yes well I paid like $800 in tax on my ath and only invested about 1k being in a low income bracket helps and yeah most of us held through 2017 ath

I was lucky most of my tax return covered it. If you were some hustler who threw down 10k plus abd held through 2017 gag I guess you owe a good amount on that? Or maybe I'm retarded and going to get taxed for my magical invisible money

[Anonymous No.15072916]

>>15072883
This is unequivically INCORRECT. I am a CPA and this is the biggest fell for the tax meme meme. This just is NOT correct. It only applies to ordinary income. Of course you can call me full of shit, or you can use an expert who will unfuck shit up for only $2,500.

[Anonymous No.15072919]

>>15072907
>Give me monies I help out
>please don't kill me
hilarious

[Anonymous No.15072924]

>>15072907
I'm going to guess he can probably hire an IRL CPA for cheaper who also isn't an asshole

[Anonymous No.15072935]

>>15071528
Based

[Anonymous No.15072942]

>>15071716
Well where are we supposed to buy, trade, and convert crypto then. I just wanted to buy Chainlink to HODL it but I transferred the funds from an ETH account I wasn't happy with.

[Anonymous No.15072948]

>>15071716
I dont understand how this is a taxable event. It's not income until it comes into my bank account. This is all horseshit.

[Anonymous No.15072956]

curious what state and last name letter?

I'm an upstanding tax paying citizen but the complexity of taxes is unjust. The state should be required to provide a CPA same as they do an attorney.

[Anonymous No.15072959]

>Buy ETH with fiat
>Transfer ETH to binance, buy LINK
>Wait a few years
>LINK goes fundamentally vertical
>Sell some LINK for the exact same amount of ETH that you originally had
>Sell ETH for fiat through your original exchange
>Claim a capital loss in your taxes
>You still have a shitload of LINK which you can then stake or sell OTC

[Anonymous No.15072962]

>>15072948
tell that to the IRS who needs your money to support Israel

[Anonymous No.15072967]

>>15072905
This would not work. It is called circumstantial evidence and would be thrown out in day 1 of tax court, with you potentially facing felony perjury and obstruction charges.
You cannot fake the ledger to show trades that didn't happen. If you show them a fake excel spreadsheet of your "supposed" trades, they will laugh and potentially arrest you in the court room on the spot for fraud.
You guys need professional help. I will do it for a flat fee of $2,500
t. Fully Licensed CPA

[Anonymous No.15072977]

>>15071582
Depends if you go to nigger jail or Charlie shrem's low security jail
Jail is really fucked regardless in USA you have no nutrients and content mental and physical abuse and threats

[Anonymous No.15072983]

>>15072924
Fine go ahead get some schmuck for HR block who has a neckbeard and will not be an asshole for you fighting tooth and nail against the biggest asshole in the room - the IRS.
I'm sure you'll win. Good luck faggot.

[Anonymous No.15072985]

>>15072916
I literally work in corporate finance. This is how personal income taxes work. You're a scammer. Not surprised you're on biz.

[Anonymous No.15072989]

>>15072140
You can only deduct like 5k in capital losses per year or something bullshit like that.

[Anonymous No.15072991]

>>15072967
how can you prove trading records from exchanges that don't keep your trades and only give you sumb dumb excet sheets taht might have been easily faked?

[Anonymous No.15073000]

You would think they could just take the financial "loss" (good fucking joke) of like what, $1 million fucking dollars, and send all of these people a sort of ultimate final warning "hey we saw you didn't pay your taxes and we're going to let it slide because crypto is new and you're probably retarded but if we catch you again you're FUCKED"

but they can't let a single dime get away, unless you're a part of the insider billionaire club

[Anonymous No.15073029]

I wonder how much income tax Hillary Clinton pays when some corporation pays her $500k to give a "talk"

[Anonymous No.15073035]

>>15073000
It's especially fucked because the laws are trash right now. You basically only have one good option, that's to convert fiat to whatever you want to buy and HODL. But you know, gotta keep the little man from making it off of the backs of the little man. Only the Big Jew is allowed to make it off of the backs of the little man. Oh wait, can't say that either, because the NSA now has me listed as a super evil racist white supremacist terrorist that DEFINITELY needs to pay every penny.

[Anonymous No.15073038]

>>15072985
I used to work in corporate finance and then M&A for a wall street firm before I retired from crypto in 2018. I am still a licensed CPA and know how all this works.
So lets see the facts. You love money, which is why you work in corporate finance. I am just better than you at what you want most - making money - retired in 2018. And now I shitpost and do whatever the fuck I want.
I have an expertise, which I won't provide for free - it is $2,500, which is small for how much people will save in time and actual money.

So fuck off poorfag.

>>15072989
Only for ordinary income. There is a way to rollfoward and deduct ALL losses. That is legal and I can do it for you.

>>15072991
Literally all exchanges keep your records, and if they are some shit defunct one like etherdelta, well in tax law the burden of proof is on you. And I'll tell you right fucking now, this is not substantial proof in tax court, which is why its called circumstantial evidence. The judge will throw it out a fucking excel spreadsheet has no weight.

[Anonymous No.15073046]

>>15072417
Pretty sure your prisons are overflowing. What happens if they try to jail 5-10% of the population? Lmao

[Anonymous No.15073048]

>>15073029
37%. How fucking stupid are you?

[Anonymous No.15073063]

>>15073048

[Anonymous No.15073065]

Accounting/Finance fag here.
I'm guessing this says "CP2000 Notice" on it somewhere. Basically, the IRS received information from a 3rd party that has a blatant discrepancy to your tax return. As you can see, it says that it's not a bill. You can challenge this, and if you're polite and well meaning, could probably clear it up (assuming you're in the right). Let me give an example...

I personally have been expecting one of these notices. A year or so ago, I transferred some btc out of coinbase and into cold storage. I checked out CB's tax reports, and according to them, I had a gain. This is obviously bullshit. Moving a bar of gold from your house to a bank vault IS NOT A TAXABLE EVENT. It's almost like CB was treating all outflows from its platforms as realized gains. I haven't gotten a notice yet, but if I do, I'll be fighting it tooth and nail. Requiring taxes on unrealized gains from BTC has a huge "wherewithal to pay" issue.

Let me be clear here. If you actually sold your bitcoin for cash at a gain, then you absolutely owe tax on it. What I'm talking about are people that are hodling, but CB is still reporting their unrealized gains to the IRS as realized gains. I'm not sure if this is incompetence or fraud on CB's part.... we could definitely get some recourse here.

Point is, if you haven't actually sold or exchanged your btc for other currencies, then you could probably work things out with the IRS. I've been thinking through how I would handle things should I be audited, and my first line of defense is giving the IRS the public address of my cold storage to prove that everything is still there. I haven't sold shit. There is no realized gain. My second line of defence deals with claiming the IRS is engaged in religious discrimination and is in violation of the civil rights act. I can elaborate more if you want, but think usury.


>>15071712
Also, fucking this.

[Anonymous No.15073068]

>>15073038
>And I'll tell you right fucking now, this is not substantial proof in tax court, which is why its called circumstantial evidence. The judge will throw it out a fucking excel spreadsheet has no weight.
how are you supposed to prove it then? excel sheets can be faked, screen shots can be faked etc

[Anonymous No.15073070]

>>15071502
Why do people not put money aside for taxes when they harvest their gains?

[Anonymous No.15073072]

>>15073048
Not when the payment is a donation to the clinton foundation. How stupid are you?

[Anonymous No.15073098]

GOOD GOYS PAY YOUR TAXES ON YOUR IMAGINARY MONEY WHILE JEFF BEZOS AND THE WEALTHIEST PEOPLE IN AMERICA PAY PRECISELY ZERO DOLLARS EVERY YEAR.

[Anonymous No.15073105]

>>15073065
And you expect us to believe you're American or have any experience whatsoever dealing with the IRS?
"defence" Lmao. Don't worry I'm sure it was a typo, us americans do that typo all the time.

t. Fully Licensed CPA

[Anonymous No.15073114]

>>15071432
Just say you lost a shitload of money on BitMEX

[Anonymous No.15073121]

>>15073070
He said "pays her" not "her foundation" you fucking smug piece of shit. Fucking kill yourself.

[Anonymous No.15073133]

>>15073038
KEK. Listen to yourself. You make up this fake story to build credence to your price. You're deluded and exposed. Also, you clearly know nothing about taxes and make up rules that suit yourself.

[Anonymous No.15073145]

>>15071432
You should have payed your taxes Matt

>>15071898
No, some people chose to incorrectly file their taxes but cryptocurrency never applied for like kind exchange.

[Anonymous No.15073151]

>>15073068
You will substiantiate your position by showing immutable ledger confirmed transactions along with wallet transaction histories, and corroborate with exchange records. At least 80% of this board is going to get fucked in the ass eventually, probably take 5 years, but to think you can evade taxes for transactions that are permanently logged on an immutable public ledger is behind moronic.

[Anonymous No.15073153]

>>15072956
NH. A.

They're getting to yours soon lol

[Anonymous No.15073154]

>>15073105
Pretty sure real CPAs require a meeting to get a quote first.

>>15073065
Do you really think that the IRS would just fuck off if you could prove that your crypto was transferred wallet-to-wallet? It seems to me that if Coinbase is referring it wrongly than they'll just defer to Coinbase and say "nope says here you cashed out now pay up."

[Anonymous No.15073156]

>>15072355
We're in the threats and arrest era that music download kids went through
Just need to survive a few more years

[Anonymous No.15073159]

>>15073133
No I wish I could think of an elaborate career like that, I have done well for myself. Keep hating faggot. Some people on this board are actually successful. Enjoy work tomorrow bitch.

[Anonymous No.15073169]

>>15073121
>Screeched the autistic brainlet.

[Anonymous No.15073171]

>>15073105
Yes, I'm American. Sorry I typed a word wrong your highness. "Like you", I'm out of the game and am a few beers deep.

FYI, actual CPAs don't ever refer to themselves as "fully licensed". That's one of the gayest things I've ever heard. It's just "CPA"

[Anonymous No.15073175]

>>15073154
I don't need to know anything more than what he told me. He traded shticoins on binance, used Coinbased, got issued a 1099, now needs to dispute and amend, or fold and pay their penalties. I already know how I would fix this issue.

[Anonymous No.15073177]

>>15071712
Based

[Anonymous No.15073186]

>>15073171
Isn't "Certified" the C in CPA?

[Anonymous No.15073188]

>>15073171
Indeed but on this underwater mongolian cocksucking forum who don't know the difference between an enrolled agent and HR block. Fully Licensed triggers their peanut brains more.

[Anonymous No.15073192]

There is a way out of this anons.

[Anonymous No.15073216]

>>15071432
Now you know taxation is theft. Support your communists politics in the future again.

[Anonymous No.15073219]

>>15073186
I think it might be Chartered. That's what it is for engineers.

[Anonymous No.15073225]

>>15073154
Yes, it's not that hard to fight the IRS if you're actually in the right. They don't want to fuck up their house of cards by setting bad precedent.

>>15073186
Yes, what's your point?

[Anonymous No.15073235]

>>15071502
Kek fucking tard, it's your fault.

[Anonymous No.15073259]

>>15072495
I fucking hate everything.

[Anonymous No.15073263]

Do all the people that lost tens of thousands of dollars get money back from the IRS? Can I send them a letter?

[Anonymous No.15073271]

I kept records but there's one thing I don't quite get with crypto-to-crypto tax.
If I buy .1 BTC and exchange it for an alt, I first pay a fee to buy the Bitcoin itself.
Then I pay a fee to transfer it.
Then I pay a fee to buy an altcoin.
Then I pay one last fee to transfer it off the exchange.
With each transaction, I make a small loss.
Is crypto-to-crypto a taxable event specifically when there are short term capital gains involved? If I ate a small loss to buy an alt and then it plunged in sat value from when I purchased it, how exactly do they go about taxing me? It's value in USD? Some magic sales tax I've never heard of?
It's convoluted as fuck.

[Anonymous No.15073289]

>>15072584
All those places are gone now

[Anonymous No.15073309]

>>15073271
You can write off all those transfer costs as investment expenses, but when you have actual real money and a big boy portfolio you dont give a fuck about a 30c transfer fee or a $5 withdrawal fee.

[Anonymous No.15073315]

>>15071616
This

[Anonymous No.15073342]

>>15071712
This desu, anarchotyranny only exists if you're in the middle getting exploited.

[Anonymous No.15073346]

>>15071502
...and a new Bitcoin Cash supporter is born!
Welcome friend.
Bitcoin.com has all the tools you need.

https://news.bitcoin.com/this-short-animation-might-make-you-think-twice-about-taxes/

[Anonymous No.15073363]

You don't owe any taxes at all. The IRS letter in 2014 specifically outlines capital gains on cryptocurrencies, not redeemable credits that an exchange sells you which allow you to exchange for cryptocurrency. Report Coinbase for securities fraud to the IRS as they were the ones who realized the capital gains on the cryptocurrency they were holding at the time.

[Anonymous No.15073365]

>Land of the free

[Anonymous No.15073377]

>>15073271
If you buy btc with usd, nothing happens. When you buy LTC with the BTC, but BTC gained 10% during that time period, you're taxed at your income bracket rate on that 10%, minus any fees you had to pay.
Then you sell your LTC for dogecoin, you measure what your value of your last USD transaction value with BTC was, and if LTC went down or up you account for that.

accountants are stupid and think you should "play it safe", and also count wallet movements as taxable transactions. the IRS has not said this is the case and left it purposefully a grey area. so every time you move, you have to measure the USD price, even though the btc amount never changed.
This is why listening to accountants on this subject is stupid, and if the IRS really wants to press the issue they're going to break the system.

[Anonymous No.15073385]

>>15073271
In general, yes, crypto to crypto is a taxable event. Any transactions involving cryptocurrencies should follow IRS Notice 2014-21 regarding its taxation. That means if you trade btc for eth, you will likely have a realized gain or realized loss. I'm a little to drunk to give you the math, but you basically have to convert everything to your fiat, cost basis prices. Long story short, any time you dispose of a specific crypto, you have a taxable event. Even if it's 5 sats for x eth. You still disposed of 5 sats and owe tax on that (assuming it was disposed at a gain, when converting to usd).

I'm not entirely sure on the fees, as that could go either way. I'd say you could get away with deducting them from gains as losses, since they're going to be immaterial anyway. IRS probably disagrees, unless you're a professional trader (in which case you could deduct the fees as a business expense (yes it's fucked up)).

[Anonymous No.15073386]

>>15071432
You cashed out and gambled your winnings like an idiot.

[Anonymous No.15073393]

>>15073363
Literally a fucking retarded comment. Capital gains were triggered from his actions, not Coinbase. The SEC has ruled ETH and BTC are not securities. How can they be convicted of securities fraud when they don't offer securities dumbass.

[Anonymous No.15073404]

>>15071432
another coinbase normie learned the ropes ?

[Anonymous No.15073407]

>>15073385
The fees will add to your cost basis, making your tax gain lower, and all tax softwares already do this. Fees are so low it doesn't fucking matter. Lol calculating a 30c transfer fee is just beyond pathetic.

[Anonymous No.15073411]

>>15071862
Wow! They are really assfucking you. Did you KYC on Binance? Or are all the trades you got narc-ed on from Coinbase?

I am sure there are many anons (me) from the US who traded similar volumes on Binance with Bitcoin they bought on Coinbase so please share more and update us with whatever info you find.

Be a gentleman good sir!

[Anonymous No.15073413]

>>15073363
this guy jews

[Anonymous No.15073431]

>>15072707
B&R

[Anonymous No.15073441]

>mfw am getting a hundred euro as tax return in a week
>student support turns out to be taxable income here
joyous

[Anonymous No.15073443]

>>15071862
>>15071862
>OP here, I ragequit for a bit, now I am researching tax specialists to go for a consultation, this shit is so fucking unfair, I never even cashed out but they are charging me for whenever I sold one type of crypto to buy other crypto.
that's a cashout lad

[Anonymous No.15073452]

>>15073393
You buy a coupon from Coinbase that says you can redeem X Bitcoin at any date. Your possession of the cryptocurrency only starts when you actually redeem that coupon. You held no cryptocurrency during the time they are alleging you had capital gains. The IRS guidelines SPECIFICALLY mention cryptocurrencies, which you did hold, as possession is determined by the unique ownership of the underlying private keys for the address. Hence you owe NO TAXES.

[Anonymous No.15073456]

Obvious troll post. You only owe taxes if you realized your gains by selling

[Anonymous No.15073475]

>>15073407
Yes, hence the word "immaterial". Aren't you the "fully licensed CPA"?

>>15073443
This

[Anonymous No.15073495]

It clearly states proposed amount and that you can agree or disagree. Just disagree and make them jump through a bunch of hoops.

[Anonymous No.15073525]

>>15073495
Hire a CPA that specializes in crypto though. You want someone to have your back on this.

[Anonymous No.15073527]

Any crypto-crypto (presumably crypto-BTC) is a realized gain.

[Anonymous No.15073533]

>>15073065
If coinbase is reporting outflows of crypto that has increased in value into cold storage as a gain and the government is seriously going for this, then there is actually an incredibly easy way to play this: buy all crypto on coinbase and then wait for a red day. Move all crypto into cold storage on that red day so that coinbase reports a loss on the outflow. Rightfully report the loss on your taxes and receive a fat deductible that you can apply to your actual normal income tax (allowing you to take home more from your actual job) while still holding your crypto in cold storage. If boomers want to be retarded, the obvious solution is to play along and spin the retarded game against them.

[Anonymous No.15073547]

>>15073452
It was not a coupon, he also said he withdrew to his private wallet, which negates your absolute retarded argument. It's like stating a brokerage is liable for your capital gains on your stock trading because they hold your stock in custody for your account, you don't have the actual paper stock certificate.
You would get laughed out of court.

[Anonymous No.15073549]

>>15073046
What happens is they build more and bigger jails, get a larger free labor pool, and bigger kickbacks from the businesses involved in the prison industrial complex. There are plans for mega jails that dwarf everything we have currently built. They just aren't economically feasible...yet.

[Anonymous No.15073559]

Guys I took out £12 to my paypal am i fucked

[Anonymous No.15073563]

>>15072452

What's PR?

[Anonymous No.15073569]

>>15073475
Are you trying to bait me because I don't use faggot terminology with non-CPAs, such as immaterial and reasonable basis. LMAO. Take a step back bro, nothing I said was incorrect and I probably educated you. Stop being butthurt.

[Anonymous No.15073580]

>>15071432
Got a letter but it didn't give an amount. Just stated a mismatch between Coinbase's 1099K (600k...which is the gross) and TurboTax stupidly only putting in the net as the gross in 8949 (like around $8 grand).

As I pull up my Bitcoin.tax account...it looks like I overpaid the IRS. Gave em $1900 when it should've been more like $1400, though the total gross transacted was more like $2 mil including Binance.

Tl;Dr TurboTax's software fucked up and if anything I overpaid. Called up the IRS and they're gonna call back tomorrow. Going to be a funny conversation...wonder what they wanna do regarding this? They may owe ME.

[Anonymous No.15073586]

>>15071432
i'm not going to bother reading this thread but you need to contact a tax attorney asap brotendo

[Anonymous No.15073590]

>>15073385
If you're going to calculate your gain/loss I don't see why you can't just gross up your exchange fees to your cost basis. When I trade stocks my brokerage includes the trading fee as part of my cost right on the consolid. 1099.

[Anonymous No.15073607]

>>15072907

>roughly 10 hours of work
>wants $250 per hour

Lol ok.

[Anonymous No.15073633]

>>15073533
Capital losses are capped at 1.5k for single fags like me :( Otherwise, would be a decent strategy.

>>15073590
>>15073569
You're right being able to deduct the fees, but what me and "fully licensed CPA anon" are trying to say is that the fees are too small to care about (probably).

>>15073580
Exactly. Fuck the IRS right back. They're severely under budget and probably wrong.

[Anonymous No.15073693]

>>15073633
I think the cap matters less than the fact that you can outright avoid all crypto taxes because coinbase will log all losses if you move everything on a red day. The deductible cap itself is just a bonus, really.

[Anonymous No.15073727]

>>15073633
Yep and guess who bought audit shield that year reporting his tax with TurboTax? This goy. I wonder... anyone here have experience with it? Should I indeed use their service or go with someone in-person? Because worse case scenario here honestly....I think I'm just going to have to file an amended return and instead: I will be shown as overpaying the IRS. I wonder if when I speak to a rep from my local office if they'll buzz-off...I mean, I'll send them screenshots and CSVs if my Bitcoin.Tax account right there and then. I may have overpaid or at least, get only a slight bump up. I can't be worth it because of a misfile on 8949 not matching Coinbase's 1099K.

Any tax peeps wanna chime in?

[Anonymous No.15073731]

>>15073607
Nah it would take me 2 hours max and I would fix everything already know how.
$2,500 non-negotiable and even then I'm not sure I would do it. I retired really not worth my time.

[Anonymous No.15073740]

>>15071919
You need a professional accountant to handle this bullshit for you

[Anonymous No.15073761]

>>15073527
I see you do not own BAT or REQ.

[Anonymous No.15073765]

>>15071432
CPA here. That's a 30-day letter. You have 30 days to file a protest with the IRS.

[Anonymous No.15073766]

>>15073271
Its pretty easy once you use your brain. Read up on FIRST IN FIRST OUT reporting.

[Anonymous No.15073775]

>>15073765
It says it's due on August 28th right there on the letter so... yeah

[Anonymous No.15073777]

>>15073765
Yeah then they'll "lose" it and throw you in jail.

[Anonymous No.15073781]

>>15073456
Wrong
Read and learn
https://www.irs.gov/pub/irs-drop/n-14-21.pdf

[Anonymous No.15073784]

>>15071568
my sides

[Anonymous No.15073790]

>>15072907
Former CPA here, this could be low if your shit is really complicated but really, in the world of the internet and pajeet CPAs, it’s ridiculously overpriced.

[Anonymous No.15073797]

>>15073547
But the exchanges don't actually hold your Bitcoin in custody in your account. Ask them to specifically point to the Bitcoin address which holds the coins for their clients. What you will find is that they are committing mass fraud due to insolvency and that people are paying taxes on non-existent coins. The exchanges simply rely on people to not redeem their coupons and 'HODL', so that they can use the money for whatever the fuck they want and pass the taxes to their clients.

[Anonymous No.15073806]

>>15071712
B&R

[Anonymous No.15073813]

>>15072967
Ok now I know this guy is larping. They will absolutely accept exchange evidence, and you shouldn’t doctor it, but if you do they might not notice.

[Anonymous No.15073815]

>>15073775
It's a 30 day letter. I'm a CPA.

[Anonymous No.15073834]

>>15073781
Your document proves my point dumbass. It’s treated as a capital asset which means you pay taxes when you realize your gains. If you just buy and hold, and don’t trade, you owe zero taxes

[Anonymous No.15073839]

>>15073784
He's right. It's only a crime if you lie or are fraudulent in some way. The IRS is more than happy to just charge you monthly fees and interest

[Anonymous No.15073846]

>>15071712
So rare to see actual truth in writing

[Anonymous No.15073849]

>>15071502
cuck base ratted you out lol

[Anonymous No.15073856]

>>15073475
IRS doesn’t have “materiality”, that’s strictly an audit thing.

[Anonymous No.15073861]

>>15072022
Does Binance do KYC?

[Anonymous No.15073862]

>>15073834
But if you trade bitcoin for chainlink that is a taxable event. Or ethereum for chainlink. Or any crypto for any crypto. All taxable events.

You said you only realize gains by selling and that is FALSE.

[Anonymous No.15073866]

>earned under the table money for the last 3 summers doing summer jobs
>cutting small trees for my neighbors, teaching some dudes how to weld out of my garage
>used all my saving from those jobs to buy eth when it bottomed out in 2018

How fucked am I when I try to cash out and don't have pay slips to prove the source of my money bros?

[Anonymous No.15073868]

>>15071946
the tax jew is scared of crypto.

[Anonymous No.15073869]

>>15071680
>if you paid $5000 for BTC, sold for $10,000, they will say you made $10,000,
what the fuck is this logic, is this really how they apply taxes in america?

[Anonymous No.15073874]

>>15073862
When you trade one crypto for another, that’s selling you fucking brainlet

[Anonymous No.15073876]

>>15073856
Immaterial, pass. Below de minimis. Waive further work.

[Anonymous No.15073880]

OP, I got jewed on taxes in 2017 as well but I’m not a faggot and got a crypto CPA to do my taxes for me. Ended up owing $90k in taxes in April 2018 off of $1MM+ in gains in 2017. Obviously held through the crash like a pussy and didn’t want to cash out all my shitcoins and Link stack to pay the taxes so I set up a monthly payment plan with the IRS and pay about $700/mo right now until Link moons and I pay it all off in one shot. I did have losses last year that I offset my balance against and could pay off the taxes right now but fuck them. I can afford the monthly payments and my Link stack is still comfy for the upcoming 4IR.

TL:DR hire a crypto tax CPA to help you. It will cost you about $2000-3000 but will save you in the long run

[Anonymous No.15073882]

>>15073874
Fair enough. Most people call that trading though.

[Anonymous No.15073889]

>>15073856
Yes, but IRS isn't going to waste money and man hours on $0.30. Immateriality is absolutely a thing for the IRS. Their whole audit algorithm is designed to provide the most bang for the buck.

[Anonymous No.15073909]

Ok, with all the “CPAs” in this thread maybe one of you can explain how capital loss carrybacks could affect 2017 gains after 2018 losses. I mostly worked in audit, so I don’t remember how it works for individuals, but a corporation that lost 100k on shitcoins in 2018 could amend their 2017 tax returns to offset 2017 gains. Let’s see if there are any other non-larpers in this thread...

[Anonymous No.15073908]

>>15073882
There’s a reason trades are called “buy orders” and “sell orders.” It’s buying and selling.

[Anonymous No.15073926]

>>15073790
Yeah well I'm retired and this is my fee. If he wants me to fix it, its $2,500 non-negotiable. The amount I'll save him will cover my fee.

[Anonymous No.15073949]

>>15073926
You are a larping scammer. You don’t have any idea how much work is involved with an open invitation. The wrong person could show up with 500 hours of work for you, and a real CPA would know this.

[Anonymous No.15073950]

>>15073797
Ah I get it now, you're a no-coiner who has beeng calling for the BTC ponzi to die since $300 yet don't actually own anything. Good work.

>>15073813
Fuck off dumbass, I didn't say you can't use exchange evidence. I said if you make an excel spreadsheet which is what we were discussing and presenting that as your evidence. Dumbass read again.

[Anonymous No.15073955]

>>15071432
Pay it all on credit cards
Default on credit cards
Learn from your mistakes

[Anonymous No.15073959]

>>15073869
No, its ignoring whats called ‘cost basis’ ie what you paid for it

Its (sale price) - (purchase price +fees) = gain/loss

[Anonymous No.15073983]

>>15072942
use dexes and defi for leverage

[Anonymous No.15073984]

>>15071716
Jewbase sent a 1099 on my behalf for 2018 and I was forced to file taxes. Luckily I traded all of 2018 and reported -18k in losses. I was mostly on binance, use bear.tax

[Anonymous No.15073986]

>>15073909
Fuck off faggot. I'm too drunk to do tax research for you.

Is it ok with you if we get back to this?....>>15071712

[Anonymous No.15073992]

>>15073046
>5-10% of the population are on 4chan, involved in crypto, and willing to refuse payment to the IRS

[Anonymous No.15074021]

>>15073986
Bro this is basic shit. Anyone with a year in individual tax should be able to answer this. It was probably even on the regulation portion of the exam.

[Anonymous No.15074023]

>>15072948
Shut the fuck up goyim the jews need your money to feed niggers and illegal spics who hate you and prop up their country of israel that has no right to exist

[Anonymous No.15074024]

so where do disabilitybux neets fall in here?
if every year i file taxes and they say "you have no taxable income", and i use disability bux to buy crypto, what then?

[Anonymous No.15074031]

>>15073992
He means tax dodgers, but his point is moot anyway because cracking down on people trying to escape the system rather than try and eke out more for themselves within it is a bigger priority for tax enforcers.

[Anonymous No.15074045]

>>15073862
What if i trade stones for sticks? Do I have to pay tax on that?

[Anonymous No.15074050]

>>15073992
I never said on 4chins. Apparently somewhere between 5-10% of Americans own crypto. Even a fraction of that would overflow prisons (isn't this already happening?).

[Anonymous No.15074051]

>>15074024
Your income is so low that your long term cap gains rate will be 0%. If you’re a hodler just report everything and you shouldn’t have to pay, unless you cash out > ~40k

[Anonymous No.15074062]

>>15072948
>I dont understand how this is a taxable event. It's not income until it comes into my bank account. This is all horseshit.
it literally is all horseshit
there is no way that a digital asset created outside of US borders should be subject to US laws
is there even any precedent for that? or are they just seeing who they can scare into paying until they have time to sign laws into effect?

[Anonymous No.15074089]

>>15071432
What would happen if I open an account in Miami and transfer all my BTC gain to that account, being a citizen of another country?
The IRS would come for me or I could not charge a shit?

[Anonymous No.15074092]

>>15071432
This proves wrong all the idiots who said you go to jail over crypto.

[Anonymous No.15074098]

>>15071502

you have to pay taxes annually, not whenever the fuck you feel like it.

[Anonymous No.15074102]

>>15074021
Wrong. No where near enough information in your single sentence comment that I could advise on. I dare you to respond regarding >>15071712 rather than your gay-ass pilpul.

[Anonymous No.15074107]

If the IRS is seriously cracking down on trades and outflows crypto is going to moon HARD in 2020 because of >>15073533. I imagine a lot of rich people who may have wanted nothing to do with crypto before will find themselves looking for a cheap stable coin to legally report a "loss" on for next tax season.

[Anonymous No.15074110]

>>15073949
Well that's why I would look at his exchanges records and know in about 30seconds if I was going to move forward. People on this board seroiusly such self-loathing scumbags. Not everyone is a fucking larping scamming pajeet. I can easily fix this, but it will cost $2,500. In fact, all the tax specialists that aren't neckbeard fucking dumbass faggots you would want to represent you in the event of an IRS communication like this that could extend to tax court, you're going to want to pay at least $2,500, more likely $5,000. No one is going to tax court either without a $10k retainer. So fuck off you don't know shit.

>>15073909
This is actually a good question. I have the answer, it will not cost $2,500, but I will amend any returns and fuck up anyone's shit for that amount. You can only use unused capital losses for future years for realized capital gains if you are an individual, this is unfortunate. You are correct though, corporations can rollback capital losses to offset gains and get a refund for prior tax years. This is called a capita loss carryback, as opposed to a carryforward. Good outsde the box thinking, but it won't work. I believe for corporations the limit is 2 years, with 3 years in certain exceptions.

[Anonymous No.15074112]

>>15074045
If trade stick for stone from berry then tax to chief must pay.

[Anonymous No.15074122]

>>15074021
He's a fucking retard and not even american. Hes a europoor scumbag.

[Anonymous No.15074139]

>>15074024
No capital gain you dumbass, so there is not tax.

[Anonymous No.15074142]

>>15074062
Its bullshit, just kikes reaching into your pockets. Crypto scares them and their using the enforcers of the state to do something about it

[Anonymous No.15074153]

>>15074112
https://www.youtube.com/watch?v=IW19xASnqw8

[Anonymous No.15074154]

>>15071716
Correct, you are a brainlet if u cash out and don't set aside 25% of your gains to pay tax. Wait until they get ahold of those swinglinkers that were bragging that set aside nothing on each gain when they were swinging. Gonna get UGLY for the big talkers.

[Anonymous No.15074157]

>>15074154
I don't think binance is ever going to report them, even if they did kyc.

[Anonymous No.15074158]

>>15074122
>>15074021
I smell two canaanite, storm-god worshiping pedophiles that are afraid of addressing >>15071712

[Anonymous No.15074212]

>>15074158
I don't even know what this means schlomo sheklestein fuck off we're full fucking disgusting europoor.

[Anonymous No.15074235]

>>15074157
Lol, okay. You don't take the IRS near seriously enough.

[Anonymous No.15074255]

>>15074153
:'( great prophet bizonacci not return to tell sky tales. Grug is sad.

[Anonymous No.15074503]

https://www.wikihow.com/Prepare-for-Jail

[Anonymous No.15074535]

This thread.... muah! chefskiss.gif

[Anonymous No.15074567]

>>15071432
shoulda used taxslayer my dude

[Anonymous No.15074574]

>>15074098
you're such a good citizen and patriot anon. MAGA

[Anonymous No.15074591]

>>15071432
File capital losses. The IRS will be paying you.

[Anonymous No.15074659]

>>15071616
Based, but how to escape the hammer?

[Anonymous No.15074744]

>>15071616
SO BASED WTF

[Anonymous No.15074758]

>>15074045
Yes you're supposed to pay taxes on bartering.
https://www.irs.gov/newsroom/four-things-you-should-know-if-you-barter
https://www.irs.gov/newsroom/bartering-income-the-value-of-property-or-services-you-receive

[Anonymous No.15074767]

>>15074591
Basado and redpillado

[Anonymous No.15074775]

>>15074098
He's supposed to pay taxes quarterly. Not yearly. Not whenever he feels like it.

[Anonymous No.15074866]

>>15074775
Tch, quarterly? You should really be cutting a check to the IRS every single time you make any sort of taxable transaction, including receiving gifts and bartering.

[Anonymous No.15074868]

I’m glad to be living in a third world shithole, no regulation.
>land of the free lmao

[Anonymous No.15074939]

>>15071432
Bullshit. Every time bitcoin goes up we get a fucking tax scare thread. Such rubbish. Get an accountant.

[Anonymous No.15075052]

thing about taxes

you pay them on money you earn, they don;t pay you for money you lose

it's a fucked up world my man

[Anonymous No.15075245]

>>15073861
No, but you can only withdraw up to 2 BTC per day.

[Anonymous No.15075252]

>>15072916

Being a CPA is nice but literally worthless. You're not a Tax Attorney. Tax Attorney affords you with a better and a legal "Client-Attorney" privileges.

But yeah he needs to help one way or other. IRS isn't all that bad and evil. They'll work with you within parameters in terms of creating a plan that works.

[Anonymous No.15075290]

>>15071616
people always say this shit, where the fuck do you move u can't just live wherever u need visas and stuff

[Anonymous No.15075311]

>>15071589
>local bitcoins
Yeah the guy buying from you is going to narc on you because guess what? He's working off his own IRS debt.

[Anonymous No.15075333]

>>15073876
have you worked with anyone on filing perpetual swaps which are basically cfd's on bitmex or deribit? i cant tell how to report these. i talked to my cpa but he did not give a clear answer

[Anonymous No.15075365]

>>15072677
It's that plus the $7k or 9k deductible

[Anonymous No.15075404]

>>15072610
lmao

[Anonymous No.15075407]

>>15071502
I hope you realize we thoroughly warned you not to use Jewbase and it was with 100% certainty their reporting that got you in this situation. You live and learn, have a nice day.

[Anonymous No.15075412]

>>15072863
no, then u just have a bunch of dirty money you can't prove the source of and are the same as a drug dealer or something

[Anonymous No.15075418]

>>15071712

[Anonymous No.15075432]

>>15071919
Take them to court, bog the system down, and make sure they pay more on lawyers fees than they get out of you in the end. That way they will lose from this crypto overreach along with all their asspained mistakes.

[Anonymous No.15075450]

>>15073363
if you go by this logic that means the transaction happened when you withdraw from the exchange

[Anonymous No.15075458]

>>15075407
what other exchange can you trust right now that also doesn't have insane fees

[Anonymous No.15075472]

>>15071649
based caspian

[Anonymous No.15075494]

>>15073834
problem is coinbase is counting moving coins off their exchange as a sale

[Anonymous No.15075501]

>>15075458
Binance is about the only one I would trust to any degree because its only crypto to crypto, or it WAS. Now I just dont know.

[Anonymous No.15075524]

>>15075494
>problem is coinbase is counting moving coins off their exchange as a sale
Trust a kike you pay the price. Of course they are, thats their way of spiting you for taking your shekels out of their coffers.

[Anonymous No.15075612]

Hah you losers. I lost 16,000 dollars so instead of having to pay tax, i get tax break due to capital loss!

[Anonymous No.15075623]

>>15075612
You only get like 25% of your losses in breaks, because with Jews you lose.

[Anonymous No.15075625]

>>15075494
Not true. They can not tax you if you move your BTC to another wallet.

[Anonymous No.15075632]

>>15071432
>>15071919
Out of curiosity how fat a stack were you guys playing with? Over six figures?

I just imported all my trades into bitcoin.tax and used whatever info it have me. I had a small profit in 2017 and a loss of about $1800 which I wrote off last year.

They're gonna try and disallow my writeoff aren't they?

[Anonymous No.15075648]

>>15075623
I live in Canada do this is false. It's subtracted from capital gains

[Anonymous No.15075671]

This is why it is important to keep all your cryptos off the exchange and in your own wallet. All trading should only take place in non KYC DEX. Once you made enough revoke your US citizenship and cashout in another country with no capital gains tax.

[Anonymous No.15075706]

>>15075648
>reporting crypto taxes in Canada

[Anonymous No.15075779]

>>15075625
This is the problem, Coinbase is sending 1099 taxable events for moving BTC/ETH off Coinbase. They are claiming it as the usd value you transfered off even if you then sent it to another exchange, or your wallet, or it was a xfer to wherever.
It is by no means a taxable event to transfer crypto from one wallet to another. Coinbase fucked up and is saying so though, and the IRS is matching it's KYC clients who transfered $10K+ of BTC to taxpayers who did not necessarily incur an actual taxable event.

[Anonymous No.15075855]

>>15075779
>Coinbase fucked up and is saying so though
Sauce? Coinbase isn't known for owning its mistakes.

[Anonymous No.15075881]

>>15075855
Mean to say CB is saying, via 1099 sent to govt, that customers incurred the taxable event. They aren't owning up to shit.

[Anonymous No.15075897]

>>15073114
Then he'd just go to jail for using Bitmex.

[Anonymous No.15075918]

>>15072751
Maybe this will speed up the collapse of the west. I'm so tired of wagecucking, a collapse means i dont have to wagecuck anymore. Will life be harder? Likely but at least if I'm a survivor i can get a plot of land, work the land, and hunt/fish. At least that doesnt seem to give me the same dread and anxiety and fury of having to go wagecuck.

[Anonymous No.15075926]

>>15073192
>more taxation is the way out

[Anonymous No.15075938]

>>15075706
Why wouldn't i report a loss for literal free money? All crypto is worthless now.

[Anonymous No.15075951]

I have one simple question: does coinbase write crypto to crypto trades to the blockchain? If not, then it was not a real trade.

[Anonymous No.15076038]

>>15073038
>Only for ordinary income. There is a way to rollfoward and deduct ALL losses. That is legal and I can do it for you.
Lel trying to charge $2500 for the knowledge that you can carry forward unlimited capital losses to offset capital gains is insane.
The $3k number is accurate, but that's only the amount that can reduce your income in following years. If you take a $50k loss in 2018, and a $51k gain in 2019, you only owe taxes on the $1k gain.

[Anonymous No.15076054]

>>15071432
If you don't support America you should probably be kill yourself.

[Anonymous No.15076061]

>>15075779
>>15072916
is depression or schizophrenia a valid reason to be late in taxes? I haven't filed for last year yet, I did submit the paperwork for an extension and need to file before October but every time I try to do anything stressful the voices get worse

[Anonymous No.15076099]

>>15073880
>$700/mo
I'm not saying this will cause people to overthrow the government, but the tea tax was seriously peanuts compared to this.

[Anonymous No.15076173]

>>15071432
See this
>>15076106

[Anonymous No.15076190]

>>15075252
>IRS isn't all that bad and evil

[Anonymous No.15076254]

>>15076061
if you're a neet just don't file until they send a letter

anons who were diddled by the tax man like to act out and harm others by scaring them. it's the same pathology as pedophiles.

honestly if you have mental health issues you should find a nicer forum than 4chan. reading this place is like psychological self harm.

[Anonymous No.15076277]

>>15072948

welcome to the world controlled by (((them))) trying to fleece the good goys to give to the niggers and spics

[Anonymous No.15076350]

>>15076254
voices started last winter and are slowly going away over the months, neeting it up until I get better. Not filing at all is bad advice tho, for a few different reasons

[Anonymous No.15076437]

>>15071432
>there is a reason why the joker fears the irs
https://youtu.be/G56VgsLfKY4

[Anonymous No.15076488]

>>15076277
https://www.youtube.com/watch?v=lbarjpJhSLw