4 ms·

to emodendroket's point, I recall reading an article that in the previous year (2016) that the IRS stated that very few people were claiming bitcoins in their t

by jsgo 9y ago

to emodendroket's point, I recall reading an article that in the previous year (2016) that the IRS stated that very few people were claiming bitcoins in their taxes. I'm not versed on cryptocurrencies so I don't know how plausible it is that they know this, but it seems like something they're looking at now.

neuronexmachina 9y ago
Basically, only 802 people told the IRS about their 2016 profits in CoinBase, one of the more popular exchanges. It's safe to assume that number was a tiny fraction of the actual US users. http://fortune.com/2017/03/19/irs-bitcoin-lawsuit/ http://fortune.com/2017/03/19/irs-bitcoin-lawsuit/
- AznHisoka 9y ago
  How would the IRS know the exact number? What about people who lumped their bitcoin gains with their other capital gains?
  - jsgo 9y ago
    I imagine it is like anything else: they don't know, but if they do an audit or another agency is investigating you for something else and they notice, then they start investigating it. I do think it is fair to say that there are more than 802, apparently, people in the United States in 2016 that mined/bought/sold bitcoin so they definitely see there is a problem.