Circle customers might end up getting in the crosshairs of the IRS.
It is seeking to get Circle's records.
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Circle customers might end up getting in the crosshairs of the IRS.
It is seeking to get Circle's records.
Posted Using LeoFinance Beta
I guess the hunt for money is on. They know about all the money flowing into crypto so obviously they want a part of it. They don't even shy away from harassing other countries so it was expected.
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The quest for taxes is now engaged full tilt.
Going forward the government is going to be hunting for every cent they can.
After all the mindset is not that it is yours but theirs. They should get their piece first and leave you with what is left over.
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Yea first is LBRY and now Circle. I expect a few more in their quest to make crypto less legitimate and also to collect taxes. The problem is that the SEC is bed with the bankers and the bankers don't exactly want the smaller coins to thrive. I think they are fine with BTC and ETH due to the money involved though.
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Coinbase had a tussle with the IRS a couple years ago. They resisted but eventually gave in. I presume the IRS has an open door to Coinbase now.
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Yes for now, it seems like they are targeting people with decent size balances. The little guys might get skipped but it will also depend on whether or not you have realized gains or not.
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Yeah although I dont think they will overlook the little guy for long.
They are on a major hunt for tax money and are going to pull out all the stops to get every cent they can from people.
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