IRS HARRASSMENT MEETS BITCOIN
IRS is a Bully. The Great Success of USA Tax collections has been the ability of IRS to instil fear by destroying American lives. Crypto traders, coin users, and holders are now under fire. IRS is going after them in two ways: 1) Income generated by accepting BITCOIN for payment of services and 2) Capital Gains taxes realized by successful crypto traders.
First, understand the playing field of Taxation: Taxes are indeed mandatory but they are also voluntary. This is a clever way of pushing the liability of an accurate return on the taxpayer. More simply, it is mandatory that you voluntarily provide IRS with your income, capital gains and in some cases your health insurance. Your word is no good, you must supply evidence which IRS can use against you. By being voluntary, IRS skirts the 4th and 5th Amendments of the Constitution.
As for pushing past warrants for tax records, IRS can walk over that with impunity. 26 U.S. Code § 7602 – Examination of books and witnesses, allows IRS to send out third party summons based on the accuracy of the taxpayer’s voluntary return. Trust is thin at IRS. This is referred to in the Courts as ex parte third-party “John Doe” administrative summons under 26 U.S.C. §§ 7602,11 Section 7602 generally authorizes the IRS to issue administrative summonses:
“[f]or the purpose of ascertaining the correctness of any return, making a return where none has been made, determining the liability of any person for any internal revenue tax or the liability at law or in equity of any transferee or fiduciary of any person in respect of any internal revenue tax, or collecting any such liability . . . .”
Case 1:20-cv-00771-JD Document
Joe Biden’s FAMILY PLAN CRACKDOWN: It sounds so Family Oriented…
Joe Biden uses “Tax the Rich” with the same impunity that Trump used “National Security” to strip citizens of their rights. It’s a smokescreen; it’s all arbitrary and capricious crap. In his illustrious FAMILY PLAN, Biden goes after Crypto Traders forcing cryptocurrency transfers of $10,000 or more to be reported to the IRS. Biden also included it in his 5 Trillion borrow and spend budget.
The more reckless the government borrow and spend, the more it needs to squeeze the taxpayers.
If you plan to take IRS to Court for a 4th, 5th Amendment Constitutional violation, you will fail.
26 U.S.C. § 7421– precludes judicial review
“It is elementary that the United States, as sovereign, is immune from suit save as it consents to be sued, and the terms of its consent to be sued in any court define that court’s jurisdiction to entertain the suit.”
United States v. Mitchell,445 U.S. 535, 538 ( 1980)
More Simply, the United States is a sovereign. If you want to sue them, the Government will have to give you permission to sue them. OTHERWISE, any Court you take the matter will lack Subject Matter Jurisdiction. CASE dismissed.
“It basically is a revolving door and you are the thing being spit out the door with centripetal force.” Cash McCall
The Crypto Traders Tax loophole:
Cryptocurrencies are similar to gold; treated as property. As such, there is no wash trading period to inhibit buy-sell transactions to recover immediate losses as a hedge against gains. Thus, a seller who realizes a massive capital gain can offset that gain with any Cryptocurrency losses or any property losses and can immediately buy back the asset used to generate the loss.
The crackdown is coming. Careful use of cryptos are virtually untraceable especially overseas. Privacy coins are even better. Beware that the government reactionaries in Congress both Trumpers and Bidenites will pass new restrictive laws.
The mainstream media continues to present Cryptos as facilitators for drug transactions and ransom crimes. Americans brag about their freedoms but want the government to clamp down on most everything.