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14997088 No.14997088 [Reply] [Original]

I received one of those letters from the IRS in the mail today but the funny thing is I actually paid all of my taxes. So why the fuck are they harassing me like this? I guess I should ignore it then right? Wtf is their problem

>> No.14997105

>the IRS gave you their address
hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

>> No.14997134

>Ether

>> No.14997136

I don't know which is which, but there are 3 different letters and one of them they will follow up on. That information is available somewhere online, I saw it. But I don't remember where.

>> No.14997143

>>14997088
It’s says ‘may not have properly reported your taxes’. This is just a warning shot to those who thought they could not report it at all. If you reported yours and sincerely believe you have paid your taxes you got nothing to worry about. Worst case scenario is you filed them incorrectly have owe some more taxes.

>> No.14997160
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14997160

>>14997088
>I actually paid all of my taxes
Cuck

>> No.14997170

>>14997088
Cheap fud. The letters won't be sent until end of august. Try better next time you humongous loser

>> No.14997171

Why do you dumbfucks use Coinbase? I know that most of you have less than 10k in crypto. You don't need Coinbase to buy amounts like that.

>> No.14997194

>>14997088
>You have filed your crypto tax incorrectly
>We actually don't know the correct amount either.

IRS cucks should either come up with the right amount or fuck off.

>> No.14997215

>>14997194
its bait to get you to overpay or self incriminate

>> No.14997265

>>14997170
No dumbass, they started mailing them on July 22 and I'm not the first to receive one

>Mass mailing of these letters will occur during the week of July 22, 2019, and continue through August.
https://www.irsmind.com/audits/irs-begins-targeting-taxpayers-who-misreport-virtual-currency-transactions/

A quick search on reddit shows several others who received IRS letters earlier this week:
https://old.reddit.com/r/Bitcoin/comments/chupoe/irs_we_have_information_that_you_have_or_had_one/
https://old.reddit.com/r/Bitcoin/comments/chwdwy/received_irs_letter_6174a_due_to_crypto_trading/
https://old.reddit.com/r/tax/comments/cih1pm/i_received_a_crypto_notice_from_the_irs/

>>14997136
Mine is the medium one but I filed my taxes correctly so I'm just going to ignore it.

>Letter 6174– this is a soft notice informing the taxpayer that there is a likelihood that they did not report their virtual currency transactions. The notice asks them to check their return and, if necessary, file an amended return to correct the misreporting. The taxpayer is not required to respond to the notice and the IRS intends not to follow up on these notices. In short, this is information only to the taxpayer and education on how they comply.

>Letter 6174-A– this is a “not so soft notice” from the IRS. As in Letter 6174, this letter tells the taxpayer that there is potential misreporting of virtual currency transactions. However, this notices states that the IRS may follow-up with future enforcement action. Again, no response is required if the taxpayer believes that they are in compliance. Taxpayers who receive this notice should be aware that they have been put on “notice” that they have been identified as a noncompliant taxpayer for potential future enforcement.

>> No.14997276

>>14997136
>>14997265
And here is the YOU'RE FUCKED - WE'RE COMING AFTER YOU letter:

>Letter 6173– this notice requests a response from the taxpayer about the alleged noncompliance. The letter provides instructions on responding to the IRS. The IRS intends to follow up on these responses to determine if the taxpayer is in compliance.

>> No.14997319

>>14997171
how

>> No.14997386

>>14997194
>>14997215
I bet they are sending letters like that to people who meet a certain requirement regardless if they filed correctly or not.
IRS does not have unlimited resources.
They aren't gonna go osama bin laden on your ass unless they think you're hiding millions.

What makes more sense:
1. Go through and audit every single person who made more than 100k worth of trades last year and then send them a letter after you review their tax filings and let them know they reported it incorrectly

OR

2. Just send a fucking letter out to everyone who met such requirements and see who bites first, then worry about the stragglers later.

>> No.14997407

>>14997386
this. theres rappers and people who are actually on the IRS' list of taxes owed of over 1m and theyre walking free. its a scare tactic to cuck yourself.

>> No.14997420

>>14997319
local.bitcoin.com use escrow.

>> No.14997425
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14997425

YOU NON TANGIBLE MATHS IS PROPERTY NOW PAY UP FAGGOT! HAHAHAHAHAHAHHA

>> No.14997426

>>14997386

It's 100% a bluf, those niggers don't have any real power. It's like those emails from pajeets saying you need to reset your bank password except sent by jews.

>> No.14997429

>>14997171
Yes you do, unless you're willing to get robbed blind by fees. Bitcoin atms charge an extra 1000 on bitcoin, aka you'd be buying at 10,400 instead of 9,400 right now. Coinbase is the only place for easy entry from fiat to crypto, that day died when localbitcoins stopped doing local transactions.

>> No.14997430

how are people owing like 30-50-100k off less than 5-10k investments? that makes absolutely no sense

>> No.14997440

>>14997407
I only made like $250 last year on crypto and about the same amount this year. I didn't file anything last year because i was unemployed and didn't even make 1k last year. I just assume that if you make less than 10k they don't really care. If they send me that stupid letter am i really going to have to file and ammended return for $250 measily bucks? lol wtf.

>> No.14997451

>>14997429
bitcoin has been captured by banks and regulators. BTCers want to be good boys to be rich in the old economy.
The original users went to BCH Monero and other coins. The ones that didn't become comfy state agents, that is.

>> No.14997452

Scare tactics

https://www.zerohedge.com/news/2019-07-26/irs-sends-1000s-fishing-letters-crypto-users

>> No.14997455

>>14997440
trust me even 10k they wouldnt go after you. the AMOUNT of money/resources they would spend to cuck you to pay taxes on 10k (~3k lets say) would exceed that by 10x. now imagine going after 1m people like that. they'd be bankrupt before they even saw any money.

>> No.14997506
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14997506

What to do if I haven't received one yet? I've really only made sporadic trades on Poloniex in 2017. Withdrew all my shit to private wallets and intend to wash it with Monero and start trading on DEX's from here on out.

Might I be good?

>> No.14998454

>>14997088
Ignore it. The state of NJ sends letters to people who buy used cars below the arbitrary number the state believes the car is worth. It's a cash grab. They are banking on you sending them a check. If they had reason to believe you owed them money, they'd say so.
Not financial advice. Fuck the IRS

>> No.14998752

I have only ever bought link with USD using coinbase.

Link is not a currency so I an good right?

I have never bought eth or btc

I bough about my 10k stack at 3.50

>> No.14998839

>>14998752
You wont have to file or potentially owe taxes until you sell or trade the chainlink

>> No.14998847

>>14997088
It's phishing for brainlets

>> No.14998882

>>14998752

you bought 10k link at $3.50?

but as far as your question goes, buying ANY crypto and selling it for any other crypto or for fiat is a taxable event (in the US).

however, you dont owe taxes until you close the position. if you simply bought LINK with fiat, but you havent done anything with the LINK yet, you havent locked in any gains or losses and wont owe taxes until you do.