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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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9317596 No.9317596 [Reply] [Original]

So I got my refund check from filing my taxes this means that the IRS didn't notice any crypto gains I was supposed to report right and I'm in the clear?

>> No.9317611

Did you make any big purchase? Like, a car, a house, some expensive ass tv, anything?

>> No.9317613

>>9317596
Yeah you don’t have to worry until they audit you in a few years and charge you interest on the taxes you should have paid this year

>> No.9317627

>>9317613
Yawn. This tax fud is getting old

>> No.9317628

Audit notices get sent out in July dumbass.

>> No.9317659

>>9317611
no I haven't cashed out yet and it's all still on exchanges and wallets.
>>9317613
How will they be able to tell how much crypto I have?

>> No.9317800

>>9317596
If you end up having to report cryptogains in the future, they will trace or request the origin of those gains and find undeclared taxable events either way.

>> No.9317818

>>9317659
if the exchange you use is in OECD-countries, you might get raped

>> No.9318078

>>9317818
I traded on Bittrex, but my realized gains were less than $1k. I reported nothing. Am I going to jail over pennies?

>> No.9318322

>>9318078
Probably not. Some turbo autist bootlickers on here will try to scare you with threats of getting assraped in prison, but the most that will ever happen is you get audited and pay tax on less than $1000 with interest.
The IRS didn't even clarify the crypto to crypto tax until late 2017 though, so that really doesn't even apply until 2018 anyway.

>> No.9318335

>>9317596
they can inspect you retroactively for years, kek

>> No.9318445
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9318445

>give money to zog
>give money to zog when trump slashed the budget of the irs despite giving billions to social security and military
>give money to zog when you make less than 50,000 knowing you have a 1 in 100 000 chance of being audited

>> No.9318453

Same. Huge sigh of relief when they both got accepted instantly despite cashing out over 50k my bank must have be cool

>> No.9318649

>>9317596
you usually get audited 3-4 years after you pull some shit. I know from personal experience. if you're going to evade taxes make sure you keep whatever you owe plus interest and attorney fees in a savings account.

>> No.9318718

>>9318453
oh man. dude you can be audited up to 7 years in the future. I feel sorry for you guys.

>> No.9318738

>>9318335
3 years max

>> No.9318748
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9318748

>>9317659
>it's all still on exchanges and wallets.
you could have 100 million on the exchanges and in wallets and they wouldn't pick it up until you cashed it out, you mong