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> we're talking about tax and tax evasion, right? I was talking about unregulated securities offerings, where I'd say cryptocurrency DOES help. However, I see
by drcode 9y ago
> we're talking about tax and tax evasion, right?
I was talking about unregulated securities offerings, where I'd say cryptocurrency DOES help. However, I see OP invoked the IRS for some reason- I agree cryptocurrency doesn't help much for tax evasion.
- tudorconstantin 9y agoI'd say it can help. You can have 10 million USD in crypto and live a normal life: pay rent, drive a usual car, etc. Nobody will notice you, not even the IRS. If you want to move your funds in another country, you simply have to move yourself and spend them there. You can't do that with fiat.
- openasocket 9y ago$10M in unreported income, that you're actually spending? That's tax evasion. It's literally the IRS's job to catch that behavior. And at the end of the day if you're spending more than what you've reported as income to the IRS you will be caught.
- drcode 9y agoRight, you could live a middle class life for 20 years and then retire in Nicaragua or something with 10 million USD... ...or you could just pay 20% (or whatever) cap gains taxes and immediately use your 8 million USD in the US- That seems like the preferable option.