Image source: https://cointelegraph.com
A few days ago Coinbase - the largest US-based cryptocurrency exchange - notified approximately 13,000 of its customers that it was going to provide the Internal Revenue Service (IRS) with personal account and transaction information.
To get caught up on the relevant details about this news, I recommend the following two sources:
- Cointelegraph: Coinbase Informs 13K Affected Customers Of Imminent Data Handover To IRS, https://cointelegraph.com/news/coinbase-informs-13k-affected-customers-of-imminent-data-handover-to-irs
- TechCrunch: Coinbase ordered to give the IRS data on users trading more than $20,000, https://techcrunch.com/2017/11/29/coinbase-internal-revenue-service-taxation/
Instead of focusing on the specifics of this egregious pursuit by the tax authority, I would rather focus on shining the light on the actual illegality of the IRS itself.
In my 6-part series entitled Restoring the Lost Republic - more specifically in Part 4 - The 16th Amendment and the IRS (Internal Revenue Service) I outline how the Internal Revenue Service:
actually has no constitutional authority to levy taxes on income;
no law that exists for individuals to pay income tax;
there are no existing records that show that the IRS was created by an act from Congress;
all the revenue collected from income tax goes to pay the interest on the debt and not a cent goes to the services provided by the federal government;
and that basically, the IRS is merely a collection agency for the Federal Reserve.
Although this may sound like batshit crazy conspiracy theory, I back up everything mentioned above with historical records and facts. (I challenge anyone to contradict me!)
Therefore, to all those targeted Coinbase users, it is perhaps time for you to get better informed about the subject. By informing yourself adequately about the relevant facts and laws regarding taxation and the IRS, you will be able to build your case, not pay a cent on your cryptocurrency gains, and best of all:
