THE CRYPTO TAXMAN COMETH (but for whom?)

[BLXN]

U.S. Bitcoin Ban Unlikely; IRS Targets Crypto Tax Dodgers

The IRS has announced that it has begun sending letters to taxpayers who might have failed to report income and pay the resulting tax from virtual currency transactions, or did not report their transactions properly. More than 10,000 taxpayers are expected to receive letters by the end of August..

10,000  -- not many , but how much crypto are these guys hoarding? The political development around Bitcoin has become as volatile as the currency itself -- appropriately perhaps. We know that the FBI is in possession of one of the biggest wallets due to the busts, and god knows what else --(I doubt they pay taxes on hoarding however). Now back to the 10,000 -- we know that the government has the means to spy on their citizens through every window, camera, and bird; whether that technology is public, or not, is up for argument. My line of thinking in this case is that they have targeted known commercial fraudsters/hackers/etc whom they have not been able to pin with crime, but know of large amounts of crypto being held in certain wallets-- perhaps millions; and once bringing these people to the light of bureaucratic scrutiny may blow the case against many criminals wide open.

Your thoughts?

[nuuuitsjdragon]

I thought there was a topic similar to this as well... I remember reading about a news topic that was posted not too long ago with the same case details. 

Forget whose post I actually managed to read it from though, maybe someone can highlight or link it! 

[williamshennie9]

It is just another version of this post:

But basically, it just shows that the IRS did not take the steps to address bitcoin when it first became a big thing, and now they are running around trying to collect taxes.