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RE: IRS Reminds US Taxpayers to Report Crypto Earnings

in #us7 years ago

I'm glad they sent a reminder.

Now if they could just agree on their rules, regulations AND provided clear instructions to comply --- that would be greaaaaaaaaaaaat!

I'm sure many more people would be happy to comply and report said transactions if there was an automated way put into place that accurately did it for them. If the regular individual can't accurately keep track of daily transactions, which average daily price of what coin was actually the one the IRS will go off that day (there are many exchanges with different rates), how can the IRS say it isn't accurate?

If they can say that a person's personal reporting of said transactions is or isn't accurate, how did they arrive at that conclusion? And if they could arrive at that conclusion AND are willing to show it to the person to PROVE THEIR WORK (like in math class), then why didn't they share that methodology with the general public well in advance of tax time?