CANN = CannabisCoin

more info about CANN here:
https://bitcointalk.org/index.php?topic=661885.0



CCN = CannaCoin

Here are the charts for CannaCoin:
https://bittrex.com/Market/Index?MarketName=BTC-CCN

IRS auditing my mining business, found older CPU-mined bitcoins. Wants to tax me. Help? (self.Bitcoin)

submitted 16 days ago * by hightimesxx95

Was just contacted by the IRS. They say that they want to audit my mining business. tldr: I mined a bunch of coins back when CPU mining was profitable (more on this later). More recently I started mining with some Avalon ASICs (which I declared under my business and tried to get reimbursed for taxes paid for electricity, losses due to bitcoin fluctuations, and depreciation of my assets). The IRS now (apparntly??) has looked at my mining business and found "evidence" of my earlier CPU mined bitcoins, and that they are mine and they want to know why I haven't paid any taxes on these bitcoins. I have to meet them in person on Wednesday. What should I do? I have thrown up twice in the last hour I am so nervous.

test test this got removed?

edit: all of this derailing stuff about hypothetical side-ventures aside, the IRS has no knowledge about my side-ventures. My bitcoin mining was all on the up-and-up. I am just afraid of what might show up if they dig too deeply.

    253 comments

alprazolame 6 points 15 days ago

They will hound you for 10 years to collect, seize assets, etc., but you don't go to jail for failure to pay tax due, assuming there was no fraud involved.

OP should immediately hire a tax attorney to deal with the IRS, and file amended returns based on recent guidance for taxation of bitcoin. The amounts due for CPU mining activities should be small, assuming he hasn't cashed out those coins. If he has sold and not declared that income either, it's still better to file completely legit, amended returns reporting ALL of his income regardless of his ability to pay.

Tax collection activities will be inconvenient, but tax fraud can land you in jail.

i wasn't online when you boys were brawling last night, peez....so i have no clue what happened, and i got no warnings from you about posting links to the site where i keep my grow journals.

Please don't talk to me like i'm a child.
i love you,
ion

These threads we're properly removed late last night from NWGT(due to inability to monitor due to sleep) after the discussions led to an outright troll fest sparked in part by a lot of your downright lies, misinformation and attempts to also come here to rant. I gave the community the option of opening those threads back up so the the community can view for themselves what happened during the deletion. If you'd like I'd be willing to publicly post them for your viewing pleasure(actually I shouldn't do it for you personally rather, for those who want to route around you're ignorance). I know you're desperate to get back to your "home" as you like to call it however you can't attempt to attack the people who let you in in the first place and expect residency.  If you have nothing against cannacoin, and nothing against NWGT you're motives of personal attacks shine through even more.  Please remove yourself from this thread as you're doing yourself no justice fighting people who are attempting to implement cryptocurrencies to the world, this is a crypto forum.