And so it starts

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  • Thu, May 06, 2021 - 05:08am

    #1
    IAMMichael

    IAMMichael

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    Joined: Mar 10 2021

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    And so it starts

A federal court in the Northern District of California entered an order today authorizing the IRS to serve a John Doe summons on Payward Ventures Inc., and Subsidiaries d/b/a Kraken (Kraken) seeking information about U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency during the years 2016 to 2020. The IRS is seeking the records of Americans who engaged in business with or through Kraken, a digital currency exchanger headquartered in San Francisco, California.

Court Authorizes Service of John Doe Summons Seeking Identities of U.S. Taxpayers Who Have Used Cryptocurrency | OPA | Department of Justice

  • Thu, May 06, 2021 - 07:57am

    #2
    hotsauce

    hotsauce

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    And so it starts

Being tracked is unavoidable. Even if you have crypto that you mined yourself or bought with cash at a bitcoin ATM you will eventually want to use it to pay for something that can be traced to you.

  • Thu, May 06, 2021 - 10:33am

    #3
    brushhog

    brushhog

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    And so it starts

There is literally nothing you can do involving the internet that can ever be considered private. Its impossible. Everything you do involving your phone, computer, tablet, whatever, is tracked, traced, and surveilled.

If privacy and anonymity are important to you, you deal in cash or barter…. And you dont email, facebook or text about it. Preferably leave your phone at home when you transact.

  • Thu, May 06, 2021 - 11:04am

    #4
    agitating prop

    agitating prop

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    And so it starts

Brushhog, I thought this was underway a while back and had been reading the IRS had been pretty public about taxing profit from bitcoin? I guess your overall concern is being tracked by government? I figure they have been doing this for quite some time and it is unnerving, for sure.

  • Thu, May 06, 2021 - 11:51am   (Reply to #4)

    #5
    brushhog

    brushhog

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    And so it starts

Yes, I also think theyve been doing this for a long time.

  • Thu, May 06, 2021 - 04:42pm

    #6

    Tycer

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    And so it starts

Yep. Pay your taxes.

  • Thu, May 06, 2021 - 05:12pm

    #7

    sand_puppy

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    Joined: Apr 13 2011

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    And so it starts

The exchanges compile a year end statement of crypto that you have sent to another party and sold for fiat.

So taxes are not too complicated.

Capital gains taxes are less than income tax.

VT has said the the exchanges are the place where surveillance happens.

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