New DeFi broker reporting regs are out. They are ass. Everything is pinned on "front end" providers for information reporting.
— Alex Golubitsky (@DumbApe69420) December 27, 2024
As much as I want to dig into these and start formulating strategies to deal with them, it seems really unlikely they will ever go into effect, givenβ¦
Lots of bitching about ruined holidays.
Does the IRS do anything but ruin people's holiday's (and every other day)? π
β Hermes Psychopomp, JD. (@Cypherpunk69) December 27, 2024
IRS TARGETS FRONT ENDS IN FINAL CRYPTO BROKER REPORTING REGS
β CryptoTaxGuy.ETH (@CryptoTaxGuyETH) December 27, 2024
Today, Treasury and the IRS issued "part 2" of the crypto broker reporting regs. Part 1 primarily addressed CEXes and other custodial actors and is summarized in the below-linked tweet. https://t.co/LIdSD0rWv7
1/12
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but why do you have such a hard on for big government?
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i've paid 7 figgies in taxes. heck, i spend more on lawyers and accountants than you do in taxes.
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yeah yeah yeah everybody on this website is a multimillionaire with a 10" peepee we get it
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i'm just sad that the way to offramp from the Federal Reserve central bank debt slavery is so reviled. this offsite somehow worships big government+corporate control more than reddit.
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"offramp from the federal reserve" come on bb it's about people not wanting to pay taxes on the money they earned, it's not actually ideological beyond a thin veneer to justify that they're simply greedy
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Still don't understand how to cheat taxes with crypto? Coinbase etc sends a report to the IRS for each user each year.
i worked at a very busy cash only restaurant. would you say that form of business should be illegal because its used to underreport taxes? edit: of course not because you are fat edit 2: and 80 percent of your thoughts are about what you are going to eat next.
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they can only do this if you provide accurate information about urself bb, that's what this reg is about, to make sure they can do exactly this
everybody knows that cash-only places virtually always commit tax fraud, imo that doesn't justify banning them at all but it does mean that it probably makes sense to target them for audits
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bby grl, what does this mean? coinbase will tell them which wallet you went funds to coinbae and they can link them with your other wallets and literally audit you with the push of a button.
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If you're going to believe in a hopelessly naive ideology that pretends the little man can be free of the giant institutions that actually make everything and organize a now global supply chain at least have a heart and be an anarchist instead of a lolbertarian
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Make a solana tx on chain with rdrama in the memo program/evm tx with rdrama in the data field with an account with at least 7 figs in balance or confirmed larp.
Should be easy enough.
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