Over 14,000 Coinbase Customers Could Be Affected by IRS Tax Summons.
Crypto Lovers Better Watch Out! IRS vs Coinbase
US Crypto lovers should be very careful and play by the rules. Coinbase is against a renewed court effort by the Internal Revenue Service to obtain information on some of its customers. IRS wants 14,000 Coinbase Customers to report what they take out over their initial investment. It seems like the Government is getting deeper into cryptocurrency worlds.
Credit link: http://bit.ly/2tXhQvD
Excellent post! :-D
very impressive post
I consider crypto currency an asset that can increase in value and decrease in value. @briandenver just like stocks in the stock market if you buy low and sell high you make a profit in that profit is reported to the IRS. Now that's only if you live in the United States. Sometimes I think if I make millions of dollars in crypto currency. I might move out of the United States. But without a strong Internet infrastructure it will be hard to buy a piña colada on the beach of a tropical island.
Thanks for the follow and good luck on this new social media platform.