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Mini data sheet on tax implications for cryptocurrency trading in the United States
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<blockquote data-quote="..." data-source="post: 1108105" data-attributes="member: 5086"><p>Always report your gains, the IRS won't prosecute you for it being illegal nor report you to the feds (FinCEN, DHS, HSI).</p><p></p><p>I know a couple of strippers and drug dealers that report their dirty money to the IRS and pay taxes. So far (10+ years) they haven't been arrested for their activities. </p><p></p><p>As one of them said "Fuck the DEA, FBI, and ICE. They can go to hell. But I do not want to fuck with the IRS...they will shut my (legit) business, bank accounts, and credit cards down....and bring the other agencies with them".</p><p></p><p>I also know a couple that got arrested and never paid their taxes. Guess what happened? The feds added charges for money laundering and tax evasion, IRS froze all their accounts.....and they had to pay fines/interest/etc.</p></blockquote><p></p>
[QUOTE="..., post: 1108105, member: 5086"] Always report your gains, the IRS won't prosecute you for it being illegal nor report you to the feds (FinCEN, DHS, HSI). I know a couple of strippers and drug dealers that report their dirty money to the IRS and pay taxes. So far (10+ years) they haven't been arrested for their activities. As one of them said "Fuck the DEA, FBI, and ICE. They can go to hell. But I do not want to fuck with the IRS...they will shut my (legit) business, bank accounts, and credit cards down....and bring the other agencies with them". I also know a couple that got arrested and never paid their taxes. Guess what happened? The feds added charges for money laundering and tax evasion, IRS froze all their accounts.....and they had to pay fines/interest/etc. [/QUOTE]
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Mini data sheet on tax implications for cryptocurrency trading in the United States
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