Quote from: countryfree on October 15, 2015, 10:13:41 PM

I'd rather have a colorectal examination live on TV than use a tax calculator for my BTC transactions.
Don't you know that privacy is a main reason why many people use and enjoy BTC?

I want the government to die, and BTC's one of the sharpest tool there is towards that goal. Who could be dumb enough to use such software?

Thanks for the feedback. One of the main goals of BitcoinFastTax was to preserve the user's anonymity, and this is evident in every aspect of the BFT website, from not requiring personal information, to SSL, to even promoting the usage of TORBrowser to access our site. We are not in the business of assisting the IRS, despite what it may seem. The larger picture is that the IRS simply 'will' have knowledge of some Bitcoin addresses' owners, whether they know/like it or not, and the IRS will expect to receive taxes for those transactions. This personal information is in the hands of the IRS because any legitimate vendor that accepts bitcoins is required by anti-money-laundering legislation to report the activities of their customers, and if someone makes a purchase with bitcoins from an address in their wallet, well it's a simple matter to cross-reference the block-chain and discover practically all the addresses that belong to that person's wallet. Since the IRS has their personal information, and can find most/all of their other addresses in the block-chain, this means they can calculate a bitcoin user's overall tax liability. The role of BFT is to give the user's the same view of their holdings as the IRS has, so they know the depth of their exposure and subsequent tax liability. You can't keep your head in the sand, taxation on bitcoins is an unavoidable reality.

This isn't to say that hiding bitcoins isn't possible; the only effective way to conceal bitcoins from the IRS is to have a wallet that is taxable (which you use to make exposed purchases where your ID is known, and to accept bitcoins from exposed sellers that know you), and have a wallet that is 'not' taxable, where you keep your anonymous mining profits and unexposed/anonymous transactions. Don't mix these wallets. Disclaimer: BFT does not endorse or promote strategies to hide taxable assets from the IRS, this information is here solely for educational purposes.

Remember, the IRS will retroactively chase you for taxes so if you want to truly understand your tax position as far as the IRS can discover, the BFT website will help you.

One more important aspect to consider, the biggest obstacle to global bitcoin adoption is the hesitation of American companies to fully support bitcoins, for the sole reason of the tax complexity surrounding their usage, and likewise many legitimate uses for bitcoins fail to gain momentum due to the fear of the average person not understanding the complex taxation laws for bitcoins, and thus they just avoid the issue. By removing the tax complexity obstacle with the BFT website's tax calculator, adoption of bitcoins should now be uninhibited and grow spectacularly, particularly in value. So you see, it's in everyone's interest that a legitimate taxable path exists for bitcoins.