Tax evasion general

Yo Zig Forums,

how fucked do you think I am (if at all) with taxes right now? I literally have reported zero crypto trades, zero Bitmex wins / losses, zero coin swapping, nothing. I have realized so many taxable transactions it makes my head spin. Plus I'm staking a coin and I should report staking income as income. I plan to do none of it. I have 1 bitcoin and around $15k in an altcoin I think has potential (you will never guess which one), and I just kind of think if anything becomes of this I will figure something out.

I have withdrawn 0 profits into any bank account though, the crypto is just kind of.. there hidden somewhere

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I guess you'd need to get records from the exchanges you're on and then just pay someone else to figure it out. You could just lie about it too and see where that goes, they're only going to check on you if something seems off.

You're supposed to report it when you make the sale. I lost money on last year's taxes, so it actually helped me lower my tax burden. You might be okay if you've not taken it out into a bank account yet, but that's not really how the tax law works.

>Possibly owe the taxman tax penalty
>Could be charged with tax evasion
>Go to Jail
>Staking Cardano, a 2 billion dollar overpriced vaporware project with no chance to go up.

I’d hate to be in your position.

>vaporware

imagine being this indian

You have a side gig right? That's your taxes. Crypto doesnt even exist, they will never know. Also the whole point of crypto is to subvert taxes and to create a new paradigm, fuck them. You gonna pay them so they can force you to stay home and wear a mask? Take a stand.

>If a law is unjust, a man is not only right to disobey it, he is obligated to do so.
are you a cuck or a man?

Sharering

What about cashing out in a foreign state? For example cashing out in a shithole
They don't apply taxation on crypto
You'd need to be a resident for at least several months. Then to move the money from the local bank to your bank.
What do you think?

Call a taxman/attorney/accountant or somebody that specializes in crypto. Tell them your situation and try to record everything you've done. If you've lost a significant amount of money this will actually be a good thing because you won't have to pay so much tax.

What I did, when in the same situation.. I sold all of my crypto 1-3k at a time. Until it was all in fiat, then bought it back, with a very simple record of transactions. I figured if this shit takes off I would never be able to show where it came from, as when I first got into crypto I was making a lot of swaps/trades etc. Just sell it all before it's worth anything and buy it back and keep an easy to understand record. Don't be lazy or it will cost you a lot of time, effort and money in the future if/when this bitch decides to do something.

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Holy shit hahaha imagine being an americuck

Just don't withdraw usd into ur bank and you will be fine

You only pay tax on gains and losses can offset gains. Crypto to crypto is a taxable event in the United States of muttmerica but that only affects you when you profit

>$3k allowed to declare as a loss.

why so many tax shills, go away IRS

Wrong,
wallet to wallet transfers are not a taxable event

>paying the tax Jew

The only people wwho dont pay taxes are super corporations and fucking losers

If you cry over losing 30 percent of your income to support your state youre a poorfag

I didn't say wallet to wallet. I said crypto to crypto. If you bought 1k link at $10 and then traded it for tether at $12, that's the taxable event.

T. Shekelberg

If the "altcoin I think has potential" isn't Chainlink then you can just go ahead cashout and give it to the taxman.

We all know you got no assets so paying taxes is something you gotta avoid at all costs to avoid being mega poor

>But m-muh LINKIES theyre going to make mom and dad not be ashamed of me

Taxes are for sub 100 iq wagies. You really gonna pay those fuckers taxes after they solve all their problems by printing money? What’s the point of paying 30% tax if you can just print money?

Wall Street kikes loose money on bets all time time. They just print money ..

Airliners go bankrupt and they printed away all their problems ..

Fuck kikes and their bullshit system

Find a way around the tax scam and keep your money to yourself.

srsly, it's a fucking psyop u pussies... only cucks in crypto pay fucking taxes... dats kinda the point of it

WHERE DO I BUY CRYPTO WITHOUT THE GOVERNMENT KNOWING?
no localbitcoins
Thank You

It's ok shekelberg, your psyops do not work here, I'm going to evade as much taxes as I want and no one will do jackshit, kek

Thats not an answer?

What do you want me to pay taxes for? I'm just a cog in a machine like everyone else, despite this I pay my taxes normally but holy fucking shit, why would I let government fuck me up with crypto too? And retarded shit like "crypto to crypto tax" that's just retarded, i'm not going to pay crypto taxes so the government can give healthcare to a bunch of obese niggers that eat at McDonalds

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I advocate paying taxes because if you post on Zig Forums you're probably too much of a sōyboy to do Al Capone shit irl. If you're a good enough trader it shouldn't even be a bother because you'll have enough leftover money.

I bet you jerk off to bbc porn you fag

Bro you are probably fine really. The feds talk a big game but they never do anything, especially now with COVID they don’t want to be accused of messing with people.
So probably let you fine. I’ve done worse tax stuff than that and I have a guy who keeps me out of trouble.
If you want him to run a check on you make sure everything clean just post you name and address here bro I’ll send it his way bro free of charge. He can run a check and clean up anything that might draw attention.