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16304247 No.16304247 [Reply] [Original]

I'm legally required to file my taxes to the IRS on paper, not electronically, yet when I go to print out each transaction I've made this year it's several hundred pages long. Obviously I just add all the capital gains and losses in Excel and report the total, but who is some poor wagie at the IRS really going to read through 400+ pages of my bullshit with a calculator and check it? Surely they don't do this.

>> No.16304276

What's to stop me from sending 10,000 or so pages to the IRS of random cryptocurrency trades I've made throughout the year and a total that I claim?

>> No.16304343

>>16304276
>or
do it. fuck the IRS.

>> No.16304356

>>16304276
What do they actually do though? I've been on the phone with them almost every day for the past month and they keep telling me to send them records. I'm genuinely curious what would happen if I said "fuck it. Here's 10,000 pages of miniscule Bitcoin transactions and an amount I'm claiming is my total gains. Don't believe me? You figure it out."

>> No.16304393

>>16304356
Someone will literally sit in an office at some point and figure it out, total up all your transactions and such. If they’ve requested records from you, then they will review them. The more voluminous records you send the more closely they will examine them because as you suggest it’s easy to hide something in a giant mass of paper records thinking that nobody will look at it. The problem is they know that as well.

>> No.16304397

>>16304393
Lol.. poor little calculator wagie.

>> No.16304405

>>16304356
>if I said "fuck it. Here's 10,000 pages of miniscule Bitcoin transactions and an amount I'm claiming is my total gains. Don't believe me? You figure it out."

DO IT!!! Also, print out a few memes and randomly scatter them throughout the 10,000 pages.

>> No.16304419

>>16304397
it's probably all automated by now

>> No.16304453

>>16304356
If they're in actual discussion with you for records, that's a completely different scenario than the normal routine to process a return - your return is flagged. You can submit 10,000 pages, but they WILL process them. It's their clock, not yours now. If it takes a year, they'll take it.
I hate taxes as much as anyone, but fucking with the IRS is just dumb. My relative works for the IRS, do not play dumb games, they have really dumb prizes for that kind of thing.

FYI, I was told most paper returns and paperwork are scanned and checked by seasonal interns and temps. My relative won't say much, for obvious reasons, but they did say that much of the return process is automated now.

>> No.16304456

>>16304419
In my case I'm required to submit "substitute forms that have the same information" as a typical 8949. In other words, I choose the formatting. Now fair enough you can train an AI to try and figure out what's what on my papers, but that's about it.

>> No.16304463

>>16304276
>>16304356
What do you people think you're paying taxes for in the first place. Yeah, they're literally going to pay a wagie to review literally every single page you submit, even if it takes them months or years. That kind of shit is exactly what the government uses tax money for.

>> No.16304465

>>16304453
What do you mean it's their clock now?
I'm not actually playing dumb games. I'm submitting my records, as best as I have them, and hoping that they comply. I'm in a position right now where they assumed I have a cost basis of 0 because I failed to file returns for crypto transactions in 2017 so I'm trying to prove that my cost basis was not 0. That's all. I'm currently filing an ammendment and form 1040X right now.

>> No.16304474

>>16304456
OCR is a thing, and has been for a while. Some of the better apps can scan pretty much anything, and format it properly. Even save it as a spreadsheet. Most of the IRS is accountants, they know their shit.

>> No.16304487

Thats why i dont sell any crypto. Dont wanna deal with the tax bullshit

>> No.16304488

>>16304474
Alright fair enough I was just curious what happens. After like 7 years they do run out of time to collect though.

>> No.16304495

>>16304465
>What do you mean it's their clock now?
It means it doesn't matter how long it takes. Pretty simple concept.

>> No.16304503

>>16304465
>>16304495
So the best I can do is submit my corrected (ammended) tax return now and just wait, right?

>> No.16304515

>>16304463
>Yeah, they're literally going to pay a wagie to review literally every single page you submit, even if it takes them months or years. That kind of shit is exactly what the government uses tax money for.
This guy gets it. OP accept that you live in a police state, you have the most evil tax system in the world.

https://www.cnbc.com/2019/08/13/taxpayers-owing-a-lot-of-money-could-have-their-passports-revoked.html
>Fixing America’s Surface Transportation (FAST) Act
Fuckin mutts bend the knee & accept this BS. Get fucked brainwash cunts.

>> No.16304526

>>16304488
7 years is filing. Collections on filed returns is 10 years, and they can suspend the time limitation if they want to. I would bet most of the collections cases that matter are sent to court and judgements gotten, they probably only let the small amounts expire.

Here's the rub - if you don't file, they can file for you - and then take you to court for what they think you owe. You have to file an amended return and deal with the debt, then - and then the 10 years kicks in.

>> No.16304530

>>16304503
Yep!

>> No.16304543

>>16304526
They can take me to court all they want but if I don't have the money I don't have the money, and I'm unemployed.

>> No.16304549

>>16304543
Why bother taking you to court when they could just put you in jail?

>> No.16304561

>>16304543
And that's probably what will happen. Or, scrape up enough money for a tax attorney, and get them to negotiate it down, if it's over 10k. Or just ask them to. You're allowed to do an offer in compromise, but you have to ask. I know someone who got a 50K bill down to 6k. Just don't let it go to a judgement, because that's when they start seizing assets.

>> No.16304571

>>16304487
if you are in the US crypto-to-crypto trades are considered a taxable event. Even if you don’t cash out you still owe the IRS

I’ve know the IRS were thieves for a while, but this is getting to the point of Revolutionary war level taxes

>> No.16304576

>>16304549
Nobody goes to jail for owing taxes. It's a civil matter, it's treated like any debt, the worst they can do is start taking your shit, like your car, or house.
Jail for taxes is for fraud, and lying. It's actually pretty hard to get the IRS to go there, from what I'm told.

>> No.16304598

>>16304549
I'm not committing tax fraud at that point though. I'm just unable to pay. They don't jail you for being unable to pay if I'm honest about it at least, I think.
>>16304561
>if it's over 10k
Anon, I have about $30,000 in the bank and the IRS wants me to pay them just under $140,000.

>> No.16304600

>>16304247
they are insolvent and criminal

>> No.16304658

>>16304276
That’s why it takes them so long to hit people up with an audit, because they actually do go through all those pages.

>> No.16304661

>>16304598
Spend part of that $30k on a tax attorney. Tomorrow. Because if they don't, they're going to take ALL of the $30k and apply it towards that debt. Don't fuck around, anon. Tax attorney. Tomorrow.

>> No.16305068
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16305068

https://www.nationalreview.com/2019/11/irs-tax-collection-system-brink-of-collapse/

It’s literally, unironically, only a matter of time.

>> No.16305276

>>16304453
In crypto so far I've only made 100$ profit, do i really have to report that shit?