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The IRS Has Seized $1.2 Billion Worth of Cryptocurrency This Year
Breitbart ^
| 08/05/2021
| Lucas Nolan
Posted on 08/05/2021 9:45:02 AM PDT by ChicagoConservative27
click here to read article
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401K's are next.
To: ChicagoConservative27
401K's are next.Darn. Just when I'm getting ready to start spending mine.
2
posted on
08/05/2021 9:46:02 AM PDT
by
SamAdams76
(Give me a Pigfoot and a Bottle of Beer)
To: ChicagoConservative27
Why do they auction it? Why not just sell it in the market at market prices - which is an auction that runs 24/7? Sounds like a form of insider dealing.
3
posted on
08/05/2021 9:47:49 AM PDT
by
monkeyshine
(live and let live is dead)
To: ChicagoConservative27
All your cryto are belong to us!
4
posted on
08/05/2021 9:48:30 AM PDT
by
Uncle Miltie
(Critical Race Theory: black behavior is so bad it must be whitey's fault.)
To: SamAdams76
401Ks get you a real revolution.
5
posted on
08/05/2021 9:49:06 AM PDT
by
Uncle Miltie
(Critical Race Theory: black behavior is so bad it must be whitey's fault.)
To: ChicagoConservative27
really? i thought that was impossible with block-chain and digital wallet software.
6
posted on
08/05/2021 9:49:51 AM PDT
by
dadfly
To: ChicagoConservative27
IF the IRS can seize your cryptocurrency, you’re not doing it right...
7
posted on
08/05/2021 9:51:56 AM PDT
by
Little Ray
(Civilization runs on a narrow margin. What sustains it is not magic, but hard work. )
To: Uncle Miltie
Yes, you are correct. That what I like to tell the alarmists who feel our 401k’s will be seized. This is one of the few truly bi-partisan issues out there (along with Social Security) that will get us a true revolution if the government ever tries to get their grubby hands on it.
8
posted on
08/05/2021 9:52:32 AM PDT
by
SamAdams76
(Give me a Pigfoot and a Bottle of Beer)
To: Uncle Miltie
The second third rail of politics (the first is Social Security).
9
posted on
08/05/2021 9:52:38 AM PDT
by
Cecily
To: ChicagoConservative27
How did the IRS obtain the passwords to the Bitcoin purses?
5.56mm
10
posted on
08/05/2021 9:52:42 AM PDT
by
M Kehoe
(Quid Pro Joe and the Ho need to go.)
To: Uncle Miltie
Y’know, we haven’t heard anything from the Left on seizing, er, Protecting 401ks in a while.
That makes me deeply suspicious.
11
posted on
08/05/2021 9:53:36 AM PDT
by
Little Ray
(Civilization runs on a narrow margin. What sustains it is not magic, but hard work. )
To: Little Ray
And if they can’t seize it, you are most likely committing some form of tax return reporting fraud.
To: ChicagoConservative27
why bother? the fifth branch of gov’t—banks and wallstreet— already have access to most of the money there through the fed, treasury (irs) and your company (unless you’re investing it yourself of course, ala the diamond hand apes).
13
posted on
08/05/2021 9:55:28 AM PDT
by
dadfly
To: Uncle Miltie
“401Ks get you a real revolution.”
*****
That revolution line keeps getting pushed back and redrawn, I’ve noticed.
To: Uncle Miltie; SamAdams76
15
posted on
08/05/2021 9:56:02 AM PDT
by
Red Badger
(Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
To: Little Ray
16
posted on
08/05/2021 9:56:28 AM PDT
by
dinodino
( )
To: ChicagoConservative27
17
posted on
08/05/2021 10:00:18 AM PDT
by
Responsibility2nd
(I love my country. It's my government that I hate.)
To: ChicagoConservative27
They won’t seize 401k’s. That’s too radical even for today’s radicals.
But they might force you to convert some of your 401k money into long-term government bonds. In other words, they’ll force you to help finance their never-ending deficit spending.
There has been some talk about doing that. But nothing serious...yet.
18
posted on
08/05/2021 10:02:09 AM PDT
by
Leaning Right
(I have already previewed or do not wish to preview this composition.)
To: dadfly
Interesting reading on StackExchange about how government can seize cryptocurrency. The consensus seems to be they "convince" you to cough up the private key. It doesn't say rubber hoses are involved.
How can government “seize” bitcoins?
19
posted on
08/05/2021 10:03:36 AM PDT
by
ProtectOurFreedom
(“Criminal democrats kill babies. Do you think anything else is a problem for them?” ~ joma89)
To: ChicagoConservative27
According to the article much of this was from a tax case so I'd bet that the attempt was to 'hide' the money in crypto. Also mentioned in the article is the FACT that it can be hard to sell large values but the missing proviso would probably be 'quickly'!
While the obvious trend is for these cryptocurrencies to grow in popularity, ref: Elon Musk and several investment houses, the various historical statements about non-detectability of possession of the same becomes more doubtful. Of particular note for any interested; since 2019 the 1040 form has had a required Y/N query about ANY ACTIVITY with cryptocurrencies in the past year. A false answer, which includes leaving it blank, can open the taxpayer to a CRIMINAL charge of FRAUD!
20
posted on
08/05/2021 10:14:41 AM PDT
by
SES1066
(Ask not what the LEFT can do for you, rather ask what the LEFT is doing to YOU!)
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