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Author Topic: [2018-04-17] Tax Time is Here and Lots of Cryptocurrency Holders Don’t Care  (Read 23 times)
limek
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April 17, 2018, 12:50:58 AM
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In the U.S. tax season has arrived and many American cryptocurrency proponents are squirming because they have to pay for some of the gains they made last year. However, there are a lot of digital currency holders who could care less about taxes and they strongly believe that taxation is antithetical to cryptocurrencies. While there is a good portion of digital currency holders planning to file their gains and losses, many crypto-advocates don’t plan to pay their tax liabilities.

Cryptocurrency Taxes: Not Many People Pay Them

If you’re a cryptocurrency enthusiast then over the past few weeks you’ve probably seen a lot of articles on paying cryptocurrency taxes, how to pay them, and the horror stories involved with those who have to pay taxes on every transaction because — every single one is a taxable event in the U.S. Even though lots of people believe the Internal Revenue Service’s (IRS) classification is unjust by defining cryptocurrencies as a property rather than a currency, people still are forced to pay for their cryptocurrency gains. Just recently there’s been a multitude of reports on cryptocurrency taxation, and some of them explain that a lot of cryptocurrency proponents don’t seem to care about paying their digital asset taxes.

Read more: https://news.bitcoin.com/tax-time-is-here-and-lots-of-cryptocurrency-holders-dont-care/
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April 17, 2018, 02:49:56 AM
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I think bitcoiners are smart enough to not to fund repressions against themselves!  Grin
Forget about banks that kill your privacy and switch to P2P transactions like Localbitcoins.
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April 17, 2018, 05:07:50 AM
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The government is partly responsible for this by not making things fairer and simpler. They should be promoting cryptocurrency taxation by providing easy and convenient ways to pay the necessary tax. Remember that we are dealing here with ordinary people and really many of them don't care with the government anymore. Streamlining things can be so helpful and doing otherwise is actually sending a message to these people not to declare and pay.

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