I intend to cover your question in my next post.
I hope that, ultimately, we can create a consistent and legal filing strategy wherein the answer is "no". There are so many hurdles to filing it as income that capital gains with a cost basis at the time of acquiring will at least be a "halfway" point of sorts between "full taxable income liability" and "screw the IRS!"
An even better option, hopefully, will be the classification of Steem rewards as a qualified dividend, which I will discus in part 4.
Why would you want to use a legal strategy against a fucking criminal organization that operates ILLEGALLY LOL. The fact that the president does nothing about this crime should speak billions of truths.
Well I'm looking at it like this, yeah they're fucking criminals and operating illegally, but they also have all the power. Even suggesting that I shouldn't pay income tax makes the a-typical person go berzerk. So for now, until the general public actually gains an education, we have to operate in their corruption. You can go be a martyr, cool, but you'll be nothing more than fuel for the media's propoganda. It will be pointless. I'll say this, if Trump can destroy the mainstream media we're 1 step closer. Who knows, he could be a hack, at least for now he's whittling away at media propoganda.
Unfortunately, the practical reality is that many of us are still stuck filing taxes each fiscal year, lest an audit wrench that money plus penalties from our accounts by force anyway.
Awesome man. Right now its kind of a free for all i would assume. Theres really no legal basis for taxing it one way or the other. We'd need some kind of case law study of how judges ruled to establish proper procedure. I'm going the cheapest way until we have some justified direction. Although I'm but a wee minnow right now, so no body would even look twice at my pull.