Before you start telling me how taxation is theft, let it be known that I do agree that at the very least the way we are been taxed should be revised.
Also, the government is not paying me to tell you to pay your taxes, lol.
So why do I think it's a good idea for you to at least flag yourself to the IRS as a crypto owner? Because in all likelihood they already know you have crypto.
Maybe you took steps to hide well, and perhaps you're good at hiding, but are you going to be able to do that forever?
I just did my taxes and this year I answered yes to the question of whether or not I had done anything with crypto for the year. I figured the IRS would have some follow-up questions, but they didn't, and I sorta wish they had.
The way I perceived the experience it almost felt like all they wanted was for me to admit to having crypto, which I absolutely have to because for one I'm an immigrant and second I don't want the inconvenience of an audit. I need to declare in detail and pay my taxes religiously to be able to stay in America.
See? That's the thing. You might be thinking to yourself that since your keys are well hidden there's no way your crypto can be taken. And that may very well be the case, but if the government knows you have crypto do you really think they'll let go that easy?
I think some people are making a big mistake by not telling the government they have digital assets. In most cases they already know and I have a feeling they're giving us some time to come forward ourselves before they start sending letters...
I don't know, maybe I'm just a little paranoid. I just feel like we haven't really seen any governments seek their cut, I find it weird.
Could this leniency be in part a strategy to later be able to apply fines?
This is not a critique on taxes or the government. I'm just saying you all know that they don't play around with their cut and I personally rather factor government fees into my doings than later having to figure out how to pay exemplary fines...
