Gold Supporting Member
- Mar 11, 2008
- Professional Status
- Certified Residential Appraiser
Wish I'd bought LTC around 12:00 today, then sold around 12:05...
I can't wait to see who was responsible for that bit of reporting, CNN and MSNBC couldn't have mucked it up any worse than that.Wish I'd bought LTC around 12:00 today, then sold around 12:05...
I don't know how they're going to get the miners in 3rd world counties, especially where there are no extradition treaties. It's not so much about the law, right or wrong, it's the feds just wanting to grab someone's money, the fact that they can't do it easily must frustrate the hell out of them.Accounting Today:
Crypto tax-reporting changes may lead to IRS crackdown
By Michael Cohn September 13, 2021, 4:42 p.m. EDT
"The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.
"As one of the ways to help pay for an estimated $28 billion of the $1.2 trillion in infrastructure spending, congressional negotiators included a provision requiring information reporting on the names, addresses and gross proceeds of cryptocurrency transactions by brokers. The crypto industry tried to lobby Congress to narrow the provision so it wouldn’t also apply to technology companies involved in the crypto industry, as well as cryptocurrency “miners” who use their computer power to solve complex mathematical problems to process the currency, but they were unable to win changes in the version of the bill passed last month by the Senate (see story)."