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Crypto isnt going to be private for very much longer - IRS to tax
Now that crypto currency is well established, the powers that be are taking control of it... Starting with the IRS. Now, in order to collect taxes on crypto... they will need to identify who owes those taxes. Anonymity is about to dissapear folks!
IRS Clarifies Tax Treatment of Cryptocurrencies: What You Need to Know - TheStreet
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With WU & MG clamping down too... Looks like good ol fashion CIM with tracking and a fake return address will be making a comeback? Just when you thought it was safe.... Brace for impact!
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I wonder if switching up currencies will be able to get around it. Or monero.
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Originally Posted by
teejey
I wonder if switching up currencies will be able to get around it. Or monero.
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I would say temporarily, however, all money & currency has strings going to the BIS & IMF. There are a small group of people who control the banks that print money & track debt for all nations. There is a version of the "Federal Reserve" (which is not part of the Federal govt, its a privately owned bank) in almost every country on the planet, Iran is one of the few remaining without a Rothschild controlled currency, hence all the tension regarding Iran.
Prior to 9/11 there were more: Iraq, Afghanistan, Somalia, Sudan, Syria, Iran. Notice how wars broke out in those other countries? Notice how war rumors and tensions are rising re: Iran? Its coming, strictly about controlling wealth. All money will come under the control of those who currently control the majority of it, anonymous transactions for everyday folks like you and will dissappear. Any challenge to that control, like Bitcoin, will either be eliminated, or brought under control and taxed. One day, the times we live in now, even with how tracked amd controlled things are today.... will look like the wild west to the next generations!
Last edited by IRISHOAK; 10-17-2019 at 12:49 PM.
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I got a letter a couple years back from irs. They can kiss my ass. Pretty much here in Florida if you keep your purchases under 20k you are clear. Not sure if it has changed in the last few months. Each state is different so check for your state and see what the threshold is. I saw some had to pay taxes an anything over 3k.
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Originally Posted by
sandman3573
I got a letter a couple years back from irs. They can kiss my ass. Pretty much here in Florida if you keep your purchases under 20k you are clear. Not sure if it has changed in the last few months. Each state is different so check for your state and see what the threshold is. I saw some had to pay taxes an anything over 3k.
They passed a new policy. The noose is in place. Expect it to tighten as time goes on. I know nobody wants hear this because Bitcoin has become nice and comfy but heavy regulation is coming.
Last edited by IRISHOAK; 10-17-2019 at 10:11 PM.
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As the world turns we adapt and over come!
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Originally Posted by
bayouboy1
As the world turns we adapt and over come!
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Thats why I posted it. So we could all start exploring other options early. Ive been reading alot about crypto regulations coming on financial trade sites.
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