Okay. I pay my taxes. It hurts, and it’s a lot, but I do it.
This wont let me. We don’t know names, let alone SSN, for those who buy our work. 15 days or felony? For selling my art?
Am I seriously going to have to leave the USA for life, liberty, and the pursuit of happiness? https://t.co/1G1Szsw9au
— Claire Silver 🌸 (@ClaireSilver12) January 3, 2024
Is the Law Actually In Effect, or Not?
6050I IMPLEMENTATION REDUX
I agree with @jerrybrito and @coincenter that the DOJ/IRS claim that section 6050I isn’t self-executing for crypto absent regs is…weird.
6050I(a) requires reporting on some cash payments “at such time as the Secretary may by regulations prescribe.”… https://t.co/w4pZOQCZM4
— CryptoTaxGuy.ETH ⌐◨-◨ 🦇🔊🛡️ (@CryptoTaxGuyETH) January 5, 2024
New crypto tax reporting obligations took effect on Jan 1.
If you receive $10k or more in crypto you now have an obligation to report the transaction (including names, addresses, SS numbers, etc.) to the IRS within 15 days under threat of a felony charge. pic.twitter.com/wyRsfJEpMo
— Jerry Brito (@jerrybrito) January 2, 2024
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- Source: https://decrypt.co/211843/crypto-trades-10k-irs-jail-complicated
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