2013-06-11: Bitcoin among virtual currencies targeted crackdown on tax evasion

[mjosephs]

Bitcoin among virtual currencies targeted in US crackdown on tax evasion.

Oh yeah, and the forum's character limit on topic titles is too low.

[data_teks]

   Funny how the IRS is worried about this yet Apple Paid No Taxes on $74 Billion in Income this last year and is parking $102 billion in overseas tax havens, allowing the company to pay a near zero global tax rate on that money. Then there's Facebook that made $1.1 billion in profits. But thanks to some nifty accounting, the company won't be paying any federal or state taxes on it — instead, it will actually be receiving a federal tax refund of about $429 million.

Of course this just shows how incompetent the IRS really is.  Nothing to really worry about.

[owsleybeatsbigcartel]

   Funny how the IRS is worried about this yet Apple Paid No Taxes on $74 Billion in Income this last year and is parking $102 billion in overseas tax havens, allowing the company to pay a near zero global tax rate on that money. Then there's Facebook that made $1.1 billion in profits. But thanks to some nifty accounting, the company won't be paying any federal or state taxes on it — instead, it will actually be receiving a federal tax refund of about $429 million.

Of course this just shows how incompetent the IRS really is.  Nothing to really worry about.

no its cool because Apple outsources the manufacturing jobs to china ...and face00k shares are soaring!lol...

[aigeezer]

"In future, taxpayers could be forced to disclose to the IRS whether they are using PayPal accounts for the virtual transfer of money, according to Mr Lessoff."

Bizarre!
 

[sergio]

What is coming from the Banks/Gov/IRS they are all the same is basically about control, they want to control everything even what is not theirs.

The companies that get huge tax breaks is because of political campaigns (better known as bribery) so for them it is ok to get huge tax cuts but not for the average person that has no political weight.

Well for first time in history we may not have political weight, but now thanks to Satoshi we can vote with our Bitcoins and that is the very reason they are being attacked so heavily, I value them not only for the clear monetary benefits, but also for my belief in freedom, peace and equality.

The tax evasion is nonsense since Bitcoin is a currency when you convert from once currency to another you don't make money your wealth is the same, but if it happens that one is a shitty currency that pays inflation tax, then it would make sense to punish the one that avoids the inflation tax, but that is unethical, and probably illegal, but the gov does not care of the law when it is them that have to comply otherwise there would be no persecution to those that wish to have guns, and the dollars would be shiny coins of gold and silver, that double standard indicates a high level of corruption, it is like saying you must obey the law but not us.

Well the good news is that because of all this nonsense which was expected, it is causing many to start working on p2p exchanges, that will be the next big step in Bitcoin.

Works like money washing, criminal activity, etc is all about FUD to scare people otherwise right now Bitcoin would have a market of 2 Billion, and perhaps 3 Billion, it will get there but not as fast as it could due to all the roadblocks it is facing.