Skip to comments.
IRS Alerts Taxpayers They Must Answer a New Question On Tax Forms Or Face Consequences
Epoch Times ^
| 01/26/2023
| Tom Ozimek
Posted on 01/26/2023 6:38:26 PM PST by SeekAndFind
click here to read article
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-60, 61-80, 81-88 next last
To: alexander_busek
No, but they might be considered fungible.
41
posted on
01/26/2023 10:52:27 PM PST
by
steve86
(Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
To: steve86
No, but they might be considered fungible. In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable, and each of whose parts is indistinguishable from any other part. Fungible tokens can be exchanged or replaced; for example, a $100 note can easily be exchanged for twenty $5 bills. In contrast, non-fungible tokens cannot be exchanged in the same manner.
- Wikipedia
Can you break a "50 Cents Off Your Next Purchase of Shake 'n' Bake" coupon?
Like, could you hand me two "25 Cents Off Your Next Purchase of Shake 'n' Bake" coupons in exchange?
SERIOUS QUESTION: Are "digital assets" like Bitcoin legal tender?
Are they valid for the "payment of all debts, public and private?"
Then what business does the IRS have, asking about them?
Regards,
42
posted on
01/26/2023 11:00:26 PM PST
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: Celerity
“If anyone wants to yell at me for not paying them, do it.”
Well, for starters, those who don’t pay taxes aren’t contributing to the destruction of Syria, Libya, Serbia, and Ukraine and many other countries, along with the blowing up of gas pipelines.
Not very considerate of you.
43
posted on
01/27/2023 12:10:54 AM PST
by
BobL
To: alexander_busek
The Wikipedia definition is narrow; that's one reason people don't use wiki as dictionary. And the term was around long before NFTs ("token").
Dictionary: In broader use, fungible can mean "interchangeable," or sometimes "readily changeable to adapt to new situations." One Shake&Bake coupon is interchangeable with any other of like amount, and yes, two 50¢ coupons have the same economic value as one $1 coupon. Moreover, when Shake&Bake introduces a new product offering the coupons are still usable (adaptable).
As to your follow-up question, the IRS has never been restricted to taxing "legal tender". Their interest extends to increases in value of any kind, such as unrealized capital gains and property appreciation. Even to "exchanges in like kind", that clearly involve nothing like legal tender (but implied changes in value can be converted to legal tender, just like Bitcoin).
44
posted on
01/27/2023 1:46:53 AM PST
by
steve86
(Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
To: SeekAndFind
Here is our corporate DIGITAL asset.
( Art exemption 238 AA of the CGI )
45
posted on
01/27/2023 2:42:05 AM PST
by
Candor7
( ( Ask not for whom THE Trump trolls...He trolls for thee!))
To: kiryandil
Which is why banks report interest income to the IRS.
This new requirement refers to income, not just having assets.
Works the same for stocks.
46
posted on
01/27/2023 2:53:27 AM PST
by
fruser1
To: SeekAndFind
I have a freind who hasnt filed since 2014... the year Obamacare started charging. he is wondering where to possibly start catching up. anyone in the know please contact freepmail...
Thanks...
47
posted on
01/27/2023 3:11:31 AM PST
by
sit-rep
( )
To: sit-rep
48
posted on
01/27/2023 3:13:48 AM PST
by
sit-rep
( )
To: BenLurkin
What is a digital asset? It's what you feel like showing the IRS every year when you pay your taxes.
One on each hand.
49
posted on
01/27/2023 3:18:44 AM PST
by
grey_whiskers
( (The opinions are solely those of the author and are subject to change without notice.))
To: Celerity
Year 26 of not filing taxes is going to go well for me. When they print your forms, then have YOU calculate it just so they recalculate it.. that’s volunteering. You voluntarily pay your taxes under the false threats that they will “get you, you wascily-wabbit” Taxes are voluntary. Still. 26 years. If anyone wants to yell at me for not paying them, do it. :)I wouldn't yell at you for not paying taxes. I would tell you how stupid you are for posting and bragging about it on the internet. That's just plain dumb.
50
posted on
01/27/2023 3:52:11 AM PST
by
BlackbirdSST
(Trump WON!!! He will win 2024!)
To: SeekAndFind
No digital assets added. I have the same 10 fingers and toes I had last year.
51
posted on
01/27/2023 3:54:32 AM PST
by
Ikeon
(You only live once is a lie, you live forever, where you spend eternity is your choice. )
To: central_va
The Fair Tax does not promote domestic industry the way a tariff does.Is there some reason we can't do both?
52
posted on
01/27/2023 3:58:04 AM PST
by
BlackbirdSST
(Trump WON!!! He will win 2024!)
To: SeekAndFind
To: BlackbirdSST
No reason. Anything is better than the current tax on the “fruits of one’s labor”.
54
posted on
01/27/2023 4:57:16 AM PST
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: Obadiah
55
posted on
01/27/2023 5:01:30 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: Obadiah
I might say, “Maybe.”
(Did the cyrpto folks send the IRS any of my information?)
56
posted on
01/27/2023 5:02:19 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: alexander_busek
SERIOUS QUESTION: Are "digital assets" like Bitcoin legal tender? Is a CAR that you won from a raffle ticket?
57
posted on
01/27/2023 5:04:57 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: fruser1
Which is why banks report interest income to the IRS.Is there any 'interest' generated by crypto?
58
posted on
01/27/2023 5:06:18 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: sit-rep
i before e... filed OK
since OK
wondering NOT ok
freepmail NOT ok
59
posted on
01/27/2023 5:08:49 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: SeekAndFind
Gotcher digital assets right down there, beotch!
60
posted on
01/27/2023 5:10:51 AM PST
by
Eleutheria5
(Every Goliath has his David.)
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-60, 61-80, 81-88 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson