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Author Topic: 2013-04-16 huffingtonpost.com - Bitcoin Celebrated As Way To Avoid Taxes  (Read 1202 times)
zeroday
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April 16, 2013, 07:13:36 PM
 #1

http://www.huffingtonpost.com/2013/04/16/bitcoin-taxes_n_3093182.html

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It's 364 days until most Americans will once again face a deadline to file their taxes, but Teresa Warmke already has a plan for Tax Day 2014: She's going to skip the whole thing.
The treasurer of a limited liability corporation, Warmke has struck on what she celebrates as a novel way to avoid any audit trail -- and thereby any liabilities to Uncle Sam. Goodbye American dollar, hello bitcoin.

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“I owe no tax unless I 'sell' at a profit and I'm not going to trade them back for dollars, so there are no capital gains,” a user who identified himself as Joe Allen wrote. “I will trade them at a later date, which is considered barter.”

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April 16, 2013, 08:24:31 PM
 #2

Scanning through the comments; must be what the editorial section in Pravda read like back in the day.  Roll Eyes

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April 16, 2013, 08:42:17 PM
 #3

HuffPo basically publishes whatever the DNC theme of the day is.   Want bad gun articles to push gun control?  Done.
Want scary security stories to impose more regulations on americans, done.

Same theme.   Taxes, Guns, racism/sexism, evil rich people.   It is laughable how RICH she got doing this.


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kiba
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April 16, 2013, 09:05:04 PM
 #4

The last thing we need is the IRS thinking all bitcoiners are tax evaders.

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April 16, 2013, 09:08:38 PM
 #5

The last thing we need is the IRS thinking all bitcoiners are tax evaders.

It'll eventually come to that, though.  Either that or they'll have to rethink their tax laws.

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April 17, 2013, 12:29:33 AM
 #6

The last thing we need is the IRS thinking all bitcoiners are tax evaders.

It'll eventually come to that, though.  Either that or they'll have to rethink their tax laws.

Hey, come on! I read "some have speculated the currency could be used to avoid taxes" not "all know the currency will be used to avoid taxes". Did I read wrong?

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April 17, 2013, 01:53:28 AM
 #7

The last thing we need is the IRS thinking all bitcoiners are tax evaders.

It'll eventually come to that, though.  Either that or they'll have to rethink their tax laws.

Hey, come on! I read "some have speculated the currency could be used to avoid taxes" not "all know the currency will be used to avoid taxes". Did I read wrong?

I don't speculate.  I avoid taxes on every purchase I make with Bitcoin Tongue  The IRS currently cannot tax Bitcoin, and it'll take some real patching up to enable them to.

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April 17, 2013, 02:27:04 AM
 #8

Wow, I wonder if Theresa Warmke and Joe Allen are even real people. If so, they can look forward to being audited by the IRS sometime in the near future for publicly declaring their intent to evade taxes. The IRS doesn't need to release guidance on Bitcoins because they have not been acknowledged to be real money by anyone authoritative in the US Govt. Therefore, transactions are considered barter, and subject to tax on gains in terms of fiat. It's not rocket science people. If a tax strategy sounds unbelievable ("Don't pay taxes on your income ever again!!1"), then it's probably illegal and the IRS will come at it if there's enough taxes to be worth it.

I don't usually think very highly of HuffPo, but that was just plain awful. This article was all about spreading false information in an a way that could only encourage others to engage in tax evasion. That's low, even for them.
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