Re:The IRS Sets a Trap for Cryptocurrency Tax Cheats
by LorenPechtel on Sunday September 27, 2020 @05:00PM
(#24610100)
The problem is it can be so hard to prove misdeeds on the part of the rich. Most of the stuff the average Joe does causes reports from the other side of the deal, the IRS simply needs to match them up. Easy peasy, I get a notice from the IRS that I didn't report $1234 because I slipped up and typed $1233.
Look at the various reported tax games with Donald Trump, though--many involve situations where the other side of the transaction is cooperating. If both sides are dirty the IRSs job becomes much harder. Also, the more complex financial transactions can't be distilled down to standardized reporting so well, it's much harder to match both sides.
Look at the various reported tax games with Donald Trump, though--many involve situations where the other side of the transaction is cooperating. If both sides are dirty the IRSs job becomes much harder. Also, the more complex financial transactions can't be distilled down to standardized reporting so well, it's much harder to match both sides.