Bachelor Clues Tax Observations On Crypto Not To Be Relied On
Because transactions in cryptocurrencies can be difficult to trace and have an inherently pseudo-anonymous aspect, taxpayers may be using them to hide taxable income from the IRS. BC says he knows how the cryptocurrency world works. That is where the problematic tax observations came up.
Estimated Tax Payments – Don’t Sweat The Small Stuff
There’s a large contingent of wealthy individuals in this country who do not make their estimated payments,” Rettig told Rep. Brad Schneider, D-Ill.
These wealthy individuals take the money that should be “paid in estimated payment on a quarterly basis to the government and take the arbitrage and they invest it,” Rettig said. “We’re not going to give them a break of interest and penalties to do so.”
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.