IRS just sent me an $23k tax bill

enjoy serving jail time you little rebel you

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Oooof.

Did you cash at all during 2017?

shoulda paid your taxes, ya goy bastid

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I guess we need this fake ass economy to crash sooner than later. ideas?

You can't go to jail for owing taxes.

Fucking kek. Do this.

Nice fud, still not selling.

Can't you arrange to pay it of structured in installments? I wouldn't pay it though, especially if you can't afford it. Might as well go to jail, keep your money in crypto, hope it m00ns while you're serving jail time and leave the country when you're rich.

You know that if you weren't greedy you could have sold it through local bitcoins and taken cash right at a little bit less then market value? It would have taken some time sure but tax evasion takes time

Dont pay, fuck IRS!
Don't pay until the last air of your soul.
Even if it needed to move out of USA, but don't pay.
It's not fair with you, you don't own nothing to them.
FUCK IRS, they're theft who have government power, all government are theft,

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(Pic related, paraphrased FB post by irs)

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gg OP

i normally don't help people online like this, but i'll help you out. the irs calculates these amounts based on the gross sell price reported to the irs. if you paid $5000 for BTC, sold for $10,000, they will say you made $10,000, multiply your tax rate (lets say 25%) and charge you $2500 tax liability. it's your responsibility to file an amended 2017 return, report the appropriate cost/basis, and you will owe much less. you need to contact a CPA immediately, and provide your cost/basis information to them. the tax liability wont be as bad, but the ball is in your court.

If they know how much you make when do they bother making you fill out your taxes? Why not just send you a bill?

Answer the goddamn question
If you cashed out without paying your capital gains tax, that's on you.

see my response above... the amounts you owe are based on gross sales only. basically, the irs forces you to file an amended return, becuase their calculation doesn't include the most essential deduction (which is cost/basis)

White men are the only demographic required to pay taxes. We should all stop paying and watch the country fail.

I think he traded it on coinbase, then used the proceeds to buy another crypto.
He's really fucked.

based

Tell that to Wesley Snipes

I don't understand this. Since when does the IRS tell you how much you owe? Did you falsely report or something? If you didn't report at all, they should just be sending a notice, not a hard number.

if thats the case, RIP
every day i lurk and see some really bad tax advice here, especially in the 2017 bull run. it's funny anons thought they could get rich and handle the tax part by themselves. if you make tens of thousands with some exotic income, hire a cpa don't be a dumbass

extremely redpilled tbqhwuf

They send out letters with the highest possible estimate to scare you when you don't pay your taxes.

Fuck the taxman.

fuckin kek

>Do this OP

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This

Seems fake

He didn't get sent to jail for fraud not debt. Check your facts.

tax.findlaw.com/tax-problems-audits/can-you-go-to-jail-for-not-paying-taxes.html

fuck that. move your crypto out of US exchanges, and move out of the US.

These tax bills are going to force everybody to hold their bags.

Bullish.

Did coinbase tattle tale?

So if you pay the amount quoted they will leave you alone with no questions?

OP here, I ragequit for a bit, now I am researching tax specialists to go for a consultation, this shit is so fucking unfair, I never even cashed out but they are charging me for whenever I sold one type of crypto to buy other crypto.

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>26 days for a shutin to find $24k
Based taxman practicing population control

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This. I don't even sell anymore.
t. Burger

yes but in this case the quoted amount is probably at least double what it should be. maybe more

youre going to jail

I don't actually know. People usually want to get it fixed and pay the lower amount. I don't actually do taxes. I just help file the electronic forms.

There was a loophole before 2018 where crypto was treated as property and wouldn't be taxed if you traded property that was alike to each other. The IRS shouldn't be treating every trade a taxable event before 2018.

I also got a letter today. The thing is, I DID pay taxes on my gains like the good goy I am. Coinbase reported the gross payments they made to me via a Form 1099K Payment Card/Third Party Transaction and the IRS thinks this is Self Employment income I made on the side. As if I acquired my coins for $0 and held less than a year. I documented all of my trades on form 8949 but the IRS doesn't realize the Coinbase payment was the capital gains I reported.

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It’s true. No one else gets taxed and sucked dry like we do

AMERIKEKS GOING TO PRISON

amerimutts going to fucking leave

So what are you doing about it? Know any good tax specialists to talk to? This is bullshit and it makes me so mad. It's also really stupid how short a period of time they give you.

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it's real, other people are getting similar letters, see

this is fucking horrifying, some retarded kike boomers can destroy your life and mental health because they don't even know the rules on crypto taxes, fucking scam system
>you better wagslave like a good goy and don't try to make any more money on the side or you're going to jail

how many fucking people got letters today?

I expect my letter is coming soon then. I've reported every year.

>short a period of time they give you

boi he cashed out on 2017 it's now fuckin 2019 about to be 2020 that was plenty of time he should have just paid the taxes and not been a faggot about it

how fuck am i if i never cashed out?

if you never sold or traded for other crypto on exchanges with KYC you should be fine for now

is this letter only for people who cashed out? Cause ive never cashed out & only bought a few hundred on coinbase & the rest on a no kyc bitcoin atm to my binance account

Did you receive a 1099-K from Coinbase?

> pay your taxes user
> be a good citizen user
> you will go to jail user
Never trust the government… ever! They will always try to fuck u. Don't be a cuck.

checked and relived. I swung on binace but stopped before the kyc stuff like 6 or 7 months ago. Moved all my shit on there to cold storage and now just buying and keeping my new stuff on coincuck

You made a profit on a crypto to crypto transaction, pocketed Uncle Sam's cut, then proceeded to gamble away his money. Good job.

The 2017 new year's crash was a lot of people cashing out enough to do what you didn't.

Protip: don't have to pay taxes is you buy high sell low

WHO'S LAUGHING NOW, FAGGOTS

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Hilarious

With love, stock boomers

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>intrayear taxation on capital gains
kek, welcome to being an adult

btw you can just juggle it into your capital losses from 2018, don't sweat it

Wasn't planning on jerking off but I really do enjoy seeing mutts getting fucked so I think I'll rub one out to this letter, thanks OP!

Lmfao @ this thread hahahahaha

Burger here.

Should I neck myself? I never sold anything but I used Jewbase and Binance.

I haven’t sold one penny yet but I’ve made a ton of trades. In total I’m down 20k

when you buy eth with btc the IRS treats that as you selling your btc

Is a crypto trader still a wagie? Its important that i get the terminology right when taunting someone.

In any case, pay your fucking taxes so i can get my neetbux!

if you're selling it for less than you bought it for you're probably fine

If you bought $100 worth of eth and it went up $20 and so you bought $120 worth of btc then you have to pay taxes on $20, if i understand correctly

So is that a 20% capital gains tax right there?

Don’t fucking pay, they can’t arrest us all if we all don’t pay.

You understand that they easily can arrest all of you, right? There are a fuck of a lot of police in this country, and they all have guns.

yes they can

I'm sure they would love to arrest everyone and put fear in everyone to not use crypto lol

CPA here
Just chiming in to say a big fucking FUCK ALL YOU SACK OF FUCKING SHITS
Saying you won't pay tax this and that go fuck yourselves you faggots pieces of shit
I reported every fucking penny and sleep well
They are coming for you worhtless sack of shits
They will find you all
I moved to PR so its all tax free
Land of the FUCKING FREE Fuck you europoor sack of shits
Suck my dick
Buy link

out

If they want a generation to lose even more trust and be ready to grab up guns and shoot public officials, sure they should go for it

They only sent out 22,000 letters. They can easily arrest everyone.

btw did you guys also get that other letter, the 6174-A? Or they just straight up sent you a bill like this?

>oy vey, look at all these goys who didn't willingly sign up to be college debt slaves
>I've got the perfect plan - we'll make them tax debt slaves

Teenagers will just see you guys as greedy tax evaders. The only thing that the government will get from this debacle is your guys' money.
Sorry bro, I don't know what you want me to tell you, I'm a libertarian.

It's not a bill, learn to read

Rekt

>ughh wow we really need more tax revenue to give to Israel!
>hmm let's lower corporate tax rates and just send 5 figure tax bills to thousands of retarded NEETs who can't afford them and ruin their lives lol

Tired of winning yet pedes? #MAGA

We are already so sick of them that we elected a meme prez. Just vote for anyone that will pull us out of the middle east completely because the entire US economy will shit the bed and we can be free of these vampires.

uh, it's basically a bill, regardless of what it says, unless you think the IRS is going to change its mind about their "proposed changes"

>They can easily arrest everyone.
They want you to think that, truth is, they lack the human resources to do that. Public institutions currently run mostly on story telling and fear mongering. Going full authoritarian on a bunch of Neets trading imaginary internet monies is the perfect recipe for PR disasters and laying the ground work and myth for a civil uprising. Imagine Boomers public workers getting shot sitting in their chairs, police stations pipe bombed and local public officials getting beaten to dead bringing their kids to school

Fucking lies. Tell that to Irwin Schiff en.wikipedia.org/wiki/Irwin_Schiff

first it was 10k now it's 22k? Tomorrow it'll be 1m

>Teenagers will just see you guys as greedy tax evaders.
>t.Boomer realizing his 401K will not get filled an he will die in poverty or hung from a lamppost.
Your generation fucked up, we will not get robbed. Siege is a good night story against what the next 5 years will bring. As soon as the narrative breaks, their is no security anymore

Where are the best places to live with actual freedom? Preferably English speaking and white.

> Take 2 years to review your tax form
> Charge you 1,081 in interest for their delay
This is satire, you burgers should just

>Fuck you europoor sack of shits
these notices are us only.