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11353401 No.11353401 [Reply] [Original]

Am I going to jail? I've been living off crypto for a year using a bitcoin debit card and I didn't really worry about paying capital gains tax. I've probably spent about $10k on living expenses since last November

>> No.11353409

Living expenses will be free if you go to jail..

>> No.11353422

>>11353401

How does one get a bitcoin debit card

>> No.11353436

>>11353409
And free cock meat sandwiches.

It’s a win win OP

>> No.11353452

>>11353436
Sure..always wondering about surprise sex in the morning?

>> No.11353482

>>11353452
Surprise morning sex is best sex

>> No.11353507

>>11353422
Just Google shift card Coinbase

>> No.11353527
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11353527

>>11353401
The IRS doesn't give a fuck about anything under 100k. Just file some back taxes if you are too much of a pussy to not give your money away to raise Tyrone's kids.

>> No.11353551

>>11353507
$50 transaction fees no thanks

>> No.11353579

>>11353507

Yah no absolutely fuck that. Already seen it and it's fucking shit.

Any actually good crypto debit cards that don't rape you out the ass.

>> No.11353582

Who gives a shit about 10k

>> No.11353608

transfer all your bitcoins to me op. ill spend your money for you. It seems like you dont understand how to use localbtc. Worrying about paying taxes with crypto... KEK OP KEKKKKKKKKKK

>> No.11353662

>>11353507
>Coinbase
Fool and his money..

>> No.11353682

>>11353662

Not that anon but where am I supposed to buy crypto-currency? I'm tired of them bottlenecking every transaction I want to make and slapping transaction fees left right and center.

>> No.11353758

is that the bitpay card? dont go above 20k/200 transactions and you're good.

>> No.11353774

>>11353551
>>11353579
You guys are misinformed. I pay no fees except $3 when I get cash out of the atm.

>> No.11353797
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11353797

>tfw £10K yearly cap gains allowance

>> No.11353814
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11353814

>>11353774
The only other fee is when I send btc from binance to refill my account

>> No.11354314

>>11353401
If you've made a mistake and inform the IRS of the mistake, you will not go to jail. You will have to pay the taxes you owe and penalties and interest but it won't be that much. Furthermore, if you're in a situation where you cannot pay the money, the IRS will work out a payment plan with you.

Believe it or not, the IRS as an organization (some individual workers are incompetent assholes) is fairly reasonable if you're honest. You really only get crushed if you're utterly reckless (making tens of millions of dollars and not paying taxes) or venal (tax scams).

>> No.11354707

>>11354314
Yeah but how will the IRS deal with people who don't act in good faith and try to hide their crypto gains through VPNs and loopholes? Also, how will the IRS deal with people who use bitmex? It may not be illegal to do so, but bitmex doesn't allow us to trade there because they don't want to be SEC compliant.

>> No.11354780
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11354780

>>11353401
curios how did you paid in wallmart and other places ?

on topic what I know is this - if you own IRS coinbase will send you tax form in the end of the year and you will have to hire CPA to provide liability from being fucked over. Whole crypto taxation is still a wild west depending on country and state you living so contact an expert.