IRS conducting electronic surveillance in attempt to clampdown on Bitcoin tax crime

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  • PlanetQWPlanetQW Rep This User!

    Thanks for posting. Just shows how much crypto is disrupting the system and governments are taking notice. You can't blame the IRS for wanting people to pay taxes, pretty hard to have a country without that. The anonymity that is sort of the foundation of the crypto dream will be really hard to maintain because let's face it a lot of people use the anonymity of crypto to avoid taxes or do other things that aren't exactly above board.

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  • CharlieBCharlieB Rep This User!

    @planetqw if you don't break the law you have nothing to worry about.

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  • BigfoodBigfood Rep This User!

    @charlieB that rationalization has been used for centuries to justify surveillance and other invasions of privacy. @PlanetQW it is true that people should pay their taxes but excessive policing from the IRS exceeds their mandate and is inconsistent with the values of freedom and privacy that the US was founded on. There has to be a reasonable medium and interviewing people's friends about whether or not they have crypto is downright terrifying like secret police from totalitarian regimes. Once that pandora's box is opened you cannot close it.

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  • jonwalkerjonwalker Rep This User!

    @bigfood most of what the IRS is saying is just exaggeration to let people know that they are serious about crypto revenue. There is no way they will actually do this stuff because it would take enormous numbers of agents and would be incredibly inefficient. However, anyone holding crypto should take this seriously and report their holdings honestly.

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