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RE: So You Made Some sbd, What Next? The Shift Debit Card

in #bitcoin8 years ago

"but I really don't think I have anything to worry about with the little lemonade stand I got going here. "

This is the exact type of mentality that ends up with people having serious issues. Between penalties and interest you can end up paying more then you earned if they look back at old returns and find unclaimed income.

This isn't about them finding just you, the IRS is actively looking into people earning crypto and figuring out how to get ALL of the taxes they are owed. So the second they go after people earning steem everyone gets caught. There are plenty of big fish earning thousands a week here and I'm sure some of them aren't claiming any of it. That means they have a very real reason to target this platform at some point.

The IRS can look back 3 years unless they find fraud (like unclaimed income) and then they can go back 7 years. If not paying your taxes on a few hundred dollars is worth that risk then that is your call, but trust me you are not an asset to the IRS.

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Definitely food for thought. Have you written a post about this? I think it would be a great idea if you haven't yet. It would warn others against being too careless with their rewards.

I haven't, but think it's a good idea. Will do this, thank you.

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