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IRS will make you disclose cryptocurrency on newest tax forms
FOXBusiness ^ | dec 19 2020 | Vandana Rambaran

Posted on 12/19/2020 6:00:55 AM PST by Presbyterian Reporter

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To: Presbyterian Reporter

Why? Democrats will not comply.
Especially certain black Democrat congressfelons.


21 posted on 12/19/2020 6:30:06 AM PST by Da Coyote
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To: Texas Fossil

While repairing the rear brakes of a car, some decades ago, I discovered that there was a certain bolt that somehow was not in the Ford Motor Co. supply chain.

Ford Motor Co. had a Vice President (or thereabouts) of Fasteners. A fellow devoted to fasteners - the guy’s office new everything about every fastener on the planet, it seemed.

I happened to calll his office at lunch time, getting his secretary. She referred me to one of Michigan’s “Mom and Pop” foundries.

I called them and got Mom. They had been making bolts for the Ford Motor Co. since the 1930’s.

I gave her the spec. (given to me by the Ford sec’y), and she promptly said “Yes; how many barrel drums do you need?”

I laughed and told her, “I only need 1 dozen bolts.” (They were a special, heat-treated, with a specific Loctite compound covering most of the threads.)

Mom laughed. She offered to send the 1 doz. bolts, free - FedEx. OK.


22 posted on 12/19/2020 6:30:44 AM PST by linMcHlp
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To: Presbyterian Reporter
Article I §8: "Congress shall have the power...to coin money, and regulate the value therof..."

Use of cryptocurrency within the United States is subject to the above. It can be banned, it can be taxed, it can be devalued, it can be confiscated.

23 posted on 12/19/2020 6:30:53 AM PST by Jim Noble (Lo there do I see the line of my people, back to the beginning)
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To: Presbyterian Reporter

If you are not a criminal you have nothing to hide. We should be required to report to our government a complete list of all of our possessions every year.


24 posted on 12/19/2020 6:33:14 AM PST by jjw
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To: Texas Fossil
But yes, the value of US coins are not in the metal they make them out of. Copper has been a lot more valuable than the penny that the US mint strikes them from.

They've been copper washed zinc since the early eighties.

Still a lot of solid copper penniess floating around, which are worth 2.39582 cents/penny as of December 18th 2020.
25 posted on 12/19/2020 6:33:41 AM PST by farming pharmer (fork you :(){ :|:& };:)
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To: Presbyterian Reporter

Yeah I require my government to count my vote and it’s courts to put criminals on trial.

I guess we can’t have it all.


26 posted on 12/19/2020 6:33:51 AM PST by Celerity
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To: Kid Shelleen

“Will they require the bitcoin vendors to send 1099 type forms to the IRS/Customer in the future?

That’s really the only records that will prove it — the sale from the Bitcoin Exchange to the individual. After that... the things you buy the people who receive bitcoin from you... that’s difficult if not impossible to trace. That’s the nature of a crypto-currency, no banks are handling the transactions.


27 posted on 12/19/2020 6:37:47 AM PST by Tallguy (Facts be d@mned! The narrative must be protected at all costs!)
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To: Presbyterian Reporter

This will make it easier for the new democrat administration to take what it wants and call it “taxation.”


28 posted on 12/19/2020 6:40:10 AM PST by I want the USA back (I fear my government much much much much much much much much much much more than a virus from china.)
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To: farming pharmer

Thanks, I did not know it was zinc. with copper wash.


29 posted on 12/19/2020 6:40:41 AM PST by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: Presbyterian Reporter
My nephew is working on getting my sister and myself Czech passports. Everyday, it looks more and more like an option.

Get a nice, old house in Plzen and live out my twilight years.

30 posted on 12/19/2020 6:41:06 AM PST by riri (Hope is not a strategy at this point- Sam Andrews)
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To: Texas Fossil

Penny’s have been copper-clad zinc slugs for a long time. Solid copper went out 40 years ago, I think. I did a project at the Philly mint back in the late 80’s as an outside contractor.


31 posted on 12/19/2020 6:42:18 AM PST by Tallguy (Facts be d@mned! The narrative must be protected at all costs!)
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To: Kid Shelleen
The current threshold for 1099-k requirement is 200 transactions or gross sales of 200k. The IRS is requiring the citizens to turn themselves in at this point. The same IRS that targeted conservative groups. Yet another agency that needs to be abolished and a flat tax installed.
32 posted on 12/19/2020 6:43:27 AM PST by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: Texas Fossil

Hmmm . . .

“the guy’s office new everything”

I need a nap. In the 4th grade spelling bee contest, I was all wound up and ready, having memorized many big words (”big” at least from my perspective).

The word that the board of teachers gave me to spell?

“who”

Yes, I flubbed it.


33 posted on 12/19/2020 6:43:51 AM PST by linMcHlp
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To: linMcHlp

Yes. That was back in the good old days. When humans were still in charge. Now the artificial intelligence has replaced all of that. (head shake)

As a nation, we are dying from complexity. It distorts everything. Most programmers are illogical. They have no ties to humans or reality.


34 posted on 12/19/2020 6:44:12 AM PST by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: discostu

... which is how the whole “Hunter Biden” fiasco is being handled — as a matter of unpaid taxes. The IRS will take it’s tax & penalty bite and the matter will be considered ‘closed’ by the Media and the Biden Crime Family. No further questions as to ‘how’, ‘why’ or ‘from who’ will be permitted.


35 posted on 12/19/2020 6:44:42 AM PST by Tallguy (Facts be d@mned! The narrative must be protected at all costs!)
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To: abb

Yes, they superseded indeed.

I stand corrected.


36 posted on 12/19/2020 6:44:56 AM PST by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: Texas Fossil

Unfortunately, so true.


37 posted on 12/19/2020 6:46:05 AM PST by linMcHlp
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To: Jim Noble

... except that crypto apparently isn’t money, it’s a collectible, like dolls or beanie babies, according to them.


38 posted on 12/19/2020 6:46:25 AM PST by coloradan (They're not the mainstream media, they're the gaslight media. It's what they do. )
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To: Presbyterian Reporter

I told folks they would do this.


39 posted on 12/19/2020 6:47:55 AM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: linMcHlp

Great story... but if Ford Motor Company ever got nailed for a major problem with their brake design and a shark injury lawyer go a hold of that little informal arrangement — hooo boy!


40 posted on 12/19/2020 6:49:06 AM PST by Tallguy (Facts be d@mned! The narrative must be protected at all costs!)
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