IRS Revoking Passports Shows How Government Erodes Everything We Hold Dear

Government Parasitism - Why Crypto, Geo-Mobility and Sustenance Are CriticalIf you have outstanding tax debt, the IRS may now want to take your passport. For U.S. crypto holders still waiting on promised IRS guidelines for filing — especially those overseas who may have missed these warning memos — the over 400,000 agency notifications issued since February last year are troubling. This kind of behavior […]

The post IRS Revoking Passports Shows How Government Erodes Everything We Hold Dear appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

The IRS Perfectly Knows How Much Bitcoin Users owe in Taxes

TheMerkle Bitcoin Taxes TipsThe IRS doesn’t take kindly to people purposefully evading taxes. This is especially true when those users are also cryptocurrency holders or traders. Despite sending out thousands of letters in recent weeks, the agency is already stepping up its game. A new version is making the rounds which is a lot more straightforward and firm. It also shows how the agency is looking at Bitcoin and altcoins in 2019.  Specific Owed Amounts Whereas the first batch of letters – which comes in two different versions – was more of a guidance tool than actual demand, the new letters are very different.

The post The IRS Perfectly Knows How Much Bitcoin Users owe in Taxes appeared first on The Merkle Hash.

Go to Source

Powered by WPeMatico

These Portfolio Tracking Tools Will Also Prepare Your Crypto Taxes

These Portfolio TrackingTools Will Also Prepare Your Crypto TaxesTax season is months away, which is why you need to start preparing for it now. Leave everything to the last minute and you’ll only end up cursing your procrastination. Organize your cryptocurrency activity in advance and you’ll breeze through tax deadline day without so much as flinching. Despite maddeningly vague or unfair legislation, filing […]

The post These Portfolio Tracking Tools Will Also Prepare Your Crypto Taxes appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Can the Fed Kill Bitcoin? Navigating the Chokepoints of Tax Law and KYC

Can the Fed Kill Bitcoin? Navigating the 'Chokepoints' of Tax Law and KYCTaxes. The one word that can kill any buzz in seconds flat. Whether you’re a libertarian ranting about how taxation is theft or one of those fabled creatures who is actually happy to file them as their so-called civic duty, one fact remains: those who don’t give the government a bite — or make mistakes […]

The post Can the Fed Kill Bitcoin? Navigating the Chokepoints of Tax Law and KYC appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event

Expert Insists IRS Letters Clarify - Exchanging One Crypto for Another Is TaxableThe U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters “very seriously.” Sean Ryan, CTO of Node40, a platform […]

The post Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

The Modern Era of Free Range Slaves: How Bitcoin Breaks the Mold

The Modern Era of Free Range Slaves: How Bitcoin Breaks the MoldIn a string of recent Tweets, 2020 Libertarian presidential candidate and fugitive from the law John McAfee has been talking about slavery. Urging people to “wake up” and assuring them that neither compliance with the status quo, nor stacks of riches, can set them free. Indeed, when the current state of the world is examined […]

The post The Modern Era of Free Range Slaves: How Bitcoin Breaks the Mold appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

New Bitcoin Cash Specs Propose Heightened Privacy and Double-Spend Proofs

New Bitcoin Cash Specs Propose Heightened Privacy and Double-Spend ProofsBitcoin Cash (BCH) development continues as software engineers have revealed two distinct concepts that aim to boost the BCH network. Bitcoin Cash developer Tom Zander has announced new documentation concerning the vision of a double-spend proofs, which now exists as a pull request to the alternative BCH implementation Flowee the Hub. Additionally, Electron Cash developer […]

The post New Bitcoin Cash Specs Propose Heightened Privacy and Double-Spend Proofs appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Reddit Roasts the IRS: Have America’s Tax Collectors ‘Gone Crypto Fishing’?

Reddit Roasts the IRS: Have America's Tax Collectors 'Gone Crypto Fishing'?In a juicy little chunk of news from the Redditsphere, a user claiming to be a former IRS employee has called the agency’s new crypto compliance letters “broad and very error-prone fishing expeditions.” The throwaway account details the “really bad data” used by the agency, saying they’re operating mostly from guesswork, casting broad nets and […]

The post Reddit Roasts the IRS: Have America’s Tax Collectors ‘Gone Crypto Fishing’? appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico