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it has already been posted in here, but you should know that they are not asking for those who have been moving more than $20k during the last time, they are only trying to find and get the id's from those who were moving more than $20k on 2015.
Technically, they want anybody who had transactions totalling $20,000 in any one year during 2013-2015. So if you made a handful of trades during the 2013 bubble, there's a good chance that you got netted in this court order.
they are only trying to do it because they know that bitcoin was more than 20 times lower during 2015.
Just make those maths; $20,000 x 20= It is more than $400,000.
That is why they want to get as much information as possible about them.
Just make those maths; $20,000 x 20= It is more than $400,000.
That is why they want to get as much information as possible about them.
This case doesn't pertain to prices in 2017. Taxes on capital gains in 2017 aren't due until next year. The IRS is targeting cases within the 3-year statute of limitations on inaccurate tax returns. I don't think it's because the price is now $10,000 because the IRS has been pursuing this case for more than a year already.
I think it's more about scaring bitcoin traders into paying taxes than about catching anyone.
thanks to clarify.
Well, on the other side...US Govt is skeptical about legalizing cryptos. Sharing personal information with Govt agency makes it risky move and paying taxes doesn't seem to make it all stop...rather inviting them to expose other assets and futures...
there're many sides of this move, we might not be able to all though.
