Re:IRS Says ‘Dozens’ of New Crypto, Cybercriminals Are Ident...
by rolltiide on Monday November 11, 2019 @08:01PM
(#21510536)
Read a couple of tax court rulings, IRS embarrasses itself all the time on overzealous stretches.
With non-reporting the IRS doesn't know how a taxpayer is categorizing a transaction. They wouldn't know if a transfer was a payment for a good/service with a capital gain or less required, or if a transfer was collateralizing debt to a third party that manages their collateral however they want which would not be a tax event, for example.
With non-reporting the IRS doesn't know how a taxpayer is categorizing a transaction. They wouldn't know if a transfer was a payment for a good/service with a capital gain or less required, or if a transfer was collateralizing debt to a third party that manages their collateral however they want which would not be a tax event, for example.