Latest posts of: Laura

Quite curious if this has been the case. Obviously I'm hoping it haven't been the case.

Forcing bitcoin users to pay up taxes would really be impossible but this thing can be done when people are engaging into those centralized exchanges which would really end up to get a % of their profits or holding as those exchanges would really follow on the imposed laws of a certain county on which it do belong.They don't have the choice but to follow it.This is the only way that I can see that bitcoin users can be taxed excluded on the fees being deducted on our each transactions.

Transaction fees this is not a tax. Taxes can be levied only by state bodies. Who can control all the miners whether they have the money transferred to the tax? Only many people like bitcoin because it does not require the payment of taxes. I am sure that most of us paid taxes in Fiat misused. I am opposed to bitcoin is controlled by the state and supported by our politicians taxes.

YES, you have to pay taxes according to the IRS Notice 2014–21. Take note of the date this was clarified, 2014. There is an article that explains exactly why and what you need to declare if its any help. Bitcoin Miners are also mentioned on that notice: https://turbotax.intuit.com/tax-tips/tax-payments/tax-tips-for-bitcoin-and-virtual-currency/L1ZOgU00q

Is anyone getting caught NOT paying taxes? That would be the question to ask.