TaekwondoMasterStrength
Sat Mar 30 2024
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6 answers
1562
Does Coinbase automatically report to IRS?
Could you clarify whether Coinbase automatically reports transactions to the IRS? I'm considering using their services for cryptocurrency transactions, but I'm concerned about tax implications. Is there a way to ensure my transactions remain confidential while still complying with tax regulations? I've heard conflicting information about this, so I'd appreciate any clarity you can provide.
Eleonora
Sat Mar 30 2024
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7 answers
1351
Does the IRS know if you bought crypto?
So, you're a professional in the field of cryptocurrency and finance, huh? I've been hearing a lot about crypto lately, and I'm just curious...does the IRS know if you bought crypto? I mean, with all the talk about taxes and regulations these days, I can't imagine they'd be too happy if they found out you were investing in something they might consider a taxable asset. So, do they know? And if they do, what are the consequences? I'm just trying to understand the ins and outs of this whole crypto world, you know? Any information you can share would be greatly appreciated.
ShintoBlessed
Sat Mar 30 2024
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6 answers
1460
Can the IRS find your Bitcoin?
Excuse me, I'm a bit confused about cryptocurrencies. I've heard that Bitcoin is a popular one, but I'm not sure how it works. Can the IRS find your Bitcoin? If I invest in Bitcoin, will the government be able to track it? And if they do, will I have to pay taxes on it? I'm just trying to understand the ins and outs of this crypto world. Could you please enlighten me?
Bianca
Sat Mar 30 2024
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5 answers
1345
Can IRS track Binance?
I've heard that Binance is a major cryptocurrency exchange platform. Given its significant role in the crypto world, I'm curious about whether the Internal Revenue Service (IRS) has the ability to track transactions or activities on Binance. I understand that cryptocurrencies offer a degree of anonymity, but I'm also aware that governments and tax authorities are interested in ensuring that taxes are paid on any profits made through crypto transactions. Given this, does the IRS have the means to monitor and, if necessary, investigate transactions on Binance? Are there any specific measures or tools that the IRS employs to track crypto activities on platforms like Binance? And if they do have the ability to track, how does this affect the privacy of users on such platforms? I'm asking this out of curiosity and also to better understand the intersection of cryptocurrency and tax regulations. Thank you for any information you can provide.
Davide
Sat Mar 30 2024
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7 answers
1596
Does PayPal report crypto to IRS?
I'm a bit confused about the tax implications of cryptocurrency transactions. Does PayPal report crypto transactions to the IRS? I know PayPal has been accepting crypto as a payment method for some time now, but I'm not sure how it handles tax reporting. If they do report to the IRS, does it mean I need to declare every crypto transaction I make through PayPal? And if so, how does that work? I'm hoping someone can clear this up for me. Thanks in advance for your help!
