Re: I didn't pay capital gains tax on bitcoin sales to IRS today
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
This needs to be clarified once and for all "The IRS do not make laws"To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
Government in the United States of America is separated into 3 parts.
1. The Legislature - Laws are passed by the Senate and Congress
2. The Executive - These are departments/services/agencies that execute those laws by interpreting legislation and forming policy (IRS)
3. The Judiciary - The courts, where the "real laws" are decided (remember George Bush got elected by a judge of the Supreme Court)
It is here that laws are tested and decided, not by the Executive, the IRS "opinion" is completely irrelevant.
I find it laughable that the IRS chose to define Bitcoin as an "asset" on their website page titled "Virtual Currency Guidance"
So is it an "Asset" or a "Currency" perhaps the page should be titled "Virtual Asset Guidance"
Also very telling is the word "Guidance" which implies it is not a "Law" it is merely a recommendation, and if you choose to pay tax that is up to you.
Ultimately it is "Not a Law" until the courts rule that it is. This is the "only place" laws are made. Keep that in mind
