“The Internal Revenue Service has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast. The document highlights how law enforcement isn’t only concerned with criminals accumulating bitcoin from selling drugs or hacking targets, but also those who use the currency to hide wealth or avoid paying taxes. The IRS has claimed that only 802 people declared bitcoin losses or profits in 2015; clearly fewer than the actual number of people trading the cryptocurrency—especially as more investors dip into the world of cryptocurrencies, and the value of bitcoin punches past the $4,000 mark.”
Read more: http://www.thedailybeast.com/irs-now-has-a-tool-to-unmask-bitcoin-tax-cheats
Related posts:
Obamacare Hammers Upper Middle Class in California: 30% Premium Hikes
Ballot initiative looks to save Los Angeles pot shops
Instead Of Bonds, Buy This…
Adam Kokesh Arrested At Pro-Marijuana Rally, Currently Held At Federal Detention Facility
Elon Musk Might Not Be Too Unhappy About Russia's Space Station Ban
Patent troll CEO explains why company demands EFF donor names
Reality Check: Obama Administration Refuses To Tell Judge If NDAA is Being Illegally Enforced?
Unarmed Florida Man Dies after Being Shot in Morning SWAT Raid
11 Awesome Bitcoin ads
Monetary Madness, Part II
A New Free-Thinking Community for Your Life, Safety and Sanity
India easing gold import restrictions: Curb your enthusiasm
Movie studios keep mistakenly reporting their own servers for piracy
"Polish" Death Camps and Censorship's Unintended Consequences
Iranians shun own currency for Gold