Post
Topic
Board Bitcoin Discussion
Re: US and Cryptocurrencies: Tax Payment is a Rarity
by
xdrpx
on 16/04/2018, 17:42:25 UTC
Dr. Joerg Andres claims seem reasonable for when the crypto's have been procured through channels like coinbase which maintains a database of the buyers and sellers and would be ready to hand them over to the IRS, but this may not be true in the case of trades that happen between people through localbitcoins or through decentralized patforms. Such users can affectly (if they've taken the right precautions to hide their ID and information details) be safe and may no longer have to pay taxes on any of their crypto holdings or gains from sales. Also, I understand that it's good to lawfully abide and pay your taxes, but it also reduces our earnings by a large percentage leaving less behind for ourselves and all this for a cryptocurrency developed for the purpose of staying out of trouble from tax authorities if procured without leaking any ID or personal informations.