Which is the apparent situation for this one crypto trader who got into it with his son back in 2013.
Randall Lord had some REALLY off the wall scary situations come about, after he basically started making great revenue from the aspects of cryptocurrency trading. He and his son decided to get away from crypto-mining, which many are labeling as a waste of precious time due to the fact that it restricts the potential for high profit returns.
He realized doing it from the direct trading method, it would be MUCH MORE profitable, same time it wouldn't take long to gain recognizable wealth, and they were providing a great service for their building customer base of buyers, so on all sides of the table it was all a WIN-WIN scenario.
Then he pointed out the fact that this started to get the attention of one particular tax institution that loves to nickel and dime us as if they were Ebenezer Scrooge in the flesh LOL, yup that DAMN IRS!
IRS IS REALLY GETTING ON EVERYBODY'S NERVES THESE DAYS! Or better yet, for the last 100 some odd years!
One example was Al Capone, some people ACTUALLY still believe that it was famed detective Eliot Ness who brought him to justice, but in fact Ness had nothing to do with Capone's capture, it was the FBI who got involved, they built up a case against Capone while he was sentenced to 6 months in jail, only to finally be sentenced to a stiff prison term of 11 years.
So the IRS was used to go after him because of the back taxes he owed (they were talking some in the range of $215 - 220,000 dollars in the early 1930's here! That's a lot of DAMN money back in those days.)
So that's the basic situation now, IRS embedded this tax code to now TAG cryptocurrency traders as a common criminals (so yeah they're basically throwing them in the same boat as Capone, expect for the fact that HE WAS ACTUALLY A KILLER, and they're NOT). And now thanks to their dirty little tax code trick, will put a spotlight on anyone who decides to jump into the game of crypto trading.
You know Jeff Berwick was f---ing right about leaving America land of the "false free", because you LITERALLY have to give up your citizens here, and just go move to another country were IRS can't follow you, thus they can't send the FBI folks to throw you in the slammer. LOL.
Lord could have avoided prison, but he said too much which got him into trouble, I posted an article about giving up your rights of constitutional power if you decided to entrust your life to the BOGUS employees of authority facilities and organizations (I'll leave that link in the SEO section below!)
However I digress! Learn more about Randall Lord's situation that destroyed his life on the video below.
