A Quote by Gavin Andresen
My salary is converted to bitcoin, and taxes are taken out. You have to do all the tax computations in dollars because the IRS does not deal in bitcoins.
Related Quotes
The IRS spends God knows how much of your tax money on these toll-free information hot lines staffed by IRS employees, whose idea of a dynamite tax tip is that you should print neatly. If you ask them a real tax question, such as how you can cheat, they're useless. So, for guidance, you want to look to big business. Big business never pays a nickel in taxes, according to Ralph Nader, who represents a big consumer organization that never pays a nickel in taxes. . . .
Warren Buffett's company reportedly owes the IRS a billion dollars in back taxes. When he said he wasn't paying enough taxes, he wasn't kidding.
By stopping the flow of illegal immigration, we will save countless tax dollars, and that's so important because the tax - the dollars that we're losing are beyond anything that you can imagine. And the tax dollars that can be used to rebuild struggling American communities - including our inner cities.
On the IRS website, they claim to be one of the world's most efficient tax administrators. The IRS officials might know how to collect taxes, but surely know how to misspend the funds.
It is easier to start taxes than to stop them. A tax an inch long can easily become a yard long. That has been the history of the income tax. Would not the sales tax be likely to have a similar history [in the U.S.]? ... Canadian newspapers report that an increase in the sales tax threatens to drive the Mackenzie King administration out of office. Canada began with a sales tax of 2%.... Starting this month the tax is 6%. The burden, in other words, has already been increased 200% ... What the U.S. needs is not new taxes, is not more taxes, but fewer and lower taxes.
Congress is supposed to fund the IRS, and it has been steadily reducing the number of auditors and tax collectors the IRS has at the very time that the tax system has become vastly more complicated. And of course America continues to grow, so there's an increasing number of tax returns coming in. The IRS responds by doing exactly what Congress expects of them. That shouldn't surprise anyone. All bureaucracies do what they are told.
The IRS issued guidance for virtual currencies on March 25, 2014 that stated virtual currencies, including Bitcoin, are to be treated as property for federal tax purposes. This requires capital gains on virtual currencies to be recorded and reported. The Bitcoin Foundation says this could lead to unrealistic reporting.
Why can't Americans do their own taxes? Because the federal Tax Code is out of control, that's why. It's gigantic and insanely complex, and it gets worse all the time. Nobody has ever read the whole thing. IRS workers are afraid to go into the same ROOM with it.
The IRS spends God knows how much of your tax money on these toll-free information hotlines staffed by IRS employees, whose idea of a dynamite tax tip is that you should print neatly.
Let's talk about how to fill out your 1984 tax return. Here's an often overlooked accounting technique that can save you thousands of dollars: For several days before you put it in the mail, carry your tax return around under your armpit. No IRS agent is going to want to spend hours poring over a sweat-stained document. So even if you owe money, you can put in for an enormous refund and the agent will probably give it to you, just to avoid an audit. What does he care? It's not his money.
Puerto Rico loses out on billions of dollars annually because it is treated unequally under a range of federal programs, including tax credits available to millions of households in the States that do not pay federal income taxes.
Let me respond with a few points, the first being that all immigrants pay taxes, income taxes, property taxes, sales taxes, gasoline taxes, cigarette taxes, every tax when they make a purchase.
It's completely reasonable, even if some Bitcoin currency purists wouldn't like it, to have credit and debit card payments denominated in Bitcoin rather than dollars, and net settled on Bitcoin instead of on Fedwire.
You can crank out Bitcoins on a PC, but it's an incredibly computer-intensive task, and it will keep getting harder as the number of Bitcoins in existence increases. Some people have pooled together hundreds of machines to 'mine' Bitcoins. Most folks, however, just buy them on an exchange.
As more wealth and political power is amassed - as bitcoins rise in value - Congress and various lobbying groups will be influenced to an ever greater extent by the interests of Bitcoin owners who - in turn - will lobby to keep the Internet and Bitcoin alive and growing.
I'm not for a temporary war tax. We're putting actual dollars in one way or the other, and so if we're gonna look at taxes, we ought to look at a comprehensive tax reform policy.
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