Lets say i have 100 BTC and im looking for some USD. You have 10,000 USD that you are willing to trade. I launder my BTC, send them to you, and you hand me 10,000 USD.
You think im going to fill out a 1099 for this? you have to be out of your f*&$ing mind. If you sit there and fill out a 1099 and willingly give your money to someone whos trying to extort money from you, you belong in line at the slaughterhouse.
You think im going to fill out a 1099 for this? you have to be out of your f*&$ing mind. If you sit there and fill out a 1099 and willingly give your money to someone whos trying to extort money from you, you belong in line at the slaughterhouse.
Likely would not get caught
Unless FINCEN starts planting people like they do to drug dealers for bitcoin
http://www.forbes.com/sites/robertwood/2013/05/02/irs-takes-a-bite-out-of-bitcoin/
The IRS already gets a piece where you swap one product or service for another, as the IRS explains at its Bartering Tax Center. Soon the IRS may have a Bitcoin Center too. The Treasury unit called FinCEN, the Financial Crimes Enforcement Network, already has rules about Bitcoin and the IRS is likely to follow.
Although they care about the big ones like you got a Ferrari bought a million dollar house and only declared 50,000 in income and are 22.
