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>Which is the IRS’ job Ever heard of the 4th Amendment?
by zzz157 9y ago
>Which is the IRS’ job
Ever heard of the 4th Amendment?
- Karunamon 9y agoThe 4th amendment does not prevent combing through public data (the blockchain), nor does it prevent going through due process to obtain data (the coinbase order).
- koboll 9y agoCross-referencing a public ledger is not an illegal search.
- IAmEveryone 9y agoSure. And so has the IRS, which “persuaded a federal judge”, according to the article. I guess they thought it was a reasonable request to get the data of the 25,000 US citizens who made significant profit with bitcoin in those years, when only a few hundred reported such earnings in total.
- chrisco255 9y agoThat's an estimate at best. How many if tbise who profitted actually cashed out?
- koolba 9y agoIt's not just a matter of tracking those that cashed out as taxes are on the net profits of individual trades. Even converting between coins (ex: sell BTC, buy ETH) is a taxable event.