I made about $14k USD last year. I did dabble in stocks and crypto (and lost $8k) but due to the wash sale rule I couldn't even get the max $3k deduction. So for my crypto stuff I just lied by filing as a single statement instead of a summary of statements, added the deposits together as the cost basis, then added the withdrawals together as the proceeds. So I now have the max $3k capital loss deduction.
Because I'm a poorcel, surely they won't find out. Right? All this did was increase my refund by about $200 USD.
Jump in the discussion.
No email address required.
The IRS goes especially after poor people because they can't fight back. You're fricked mate.
Jump in the discussion.
No email address required.
More options
Context
Some people are able to display their intelligence by going on at length on a subject and never actually saying anything. This ability is most common in trades such as politics, public relations, and law. You have impressed me by being able to best them all, while still coming off as an absolute idiot.
Jump in the discussion.
No email address required.
More options
Context
$14k? Yeah, youβre definitely on the audit list.
Jump in the discussion.
No email address required.
More options
Context
Jump in the discussion.
No email address required.
More options
Context
People will call you an r-slur because they'll always advocate for the cautious approach when it comes to this kind of stuff. The chances of anything bad happening are very low but getting away with it often breeds further questionable actions that will increase your chances of trouble.
Jump in the discussion.
No email address required.
More options
Context
I'm starting to think you're actually r-slurred
Jump in the discussion.
No email address required.
More options
Context
If they catch it, you will just get a letter to pay it. I doubt anything will happen, but it won't be bad if it does. They will just send you a letter that you need to pay the amount.
Krayon sexually assaulted his sister.
Jump in the discussion.
No email address required.
More options
Context
Poorstrags are the easiest to audit because you can't afford good lawyers. Better prep your anus because uncle sam goes in raw
Jump in the discussion.
No email address required.
More options
Context
I mean being a poorcel kinda is asking for it, though they probably still won't unless you actively receive benefits
Jump in the discussion.
No email address required.
More options
Context
Chances of audit are incredibly low. I wouldn't even worry about it at all if I were you. Even if they did, you would just claim you didn't understand the rules and they would demand their $200 you owe them. Don't lose any sleep over it.
Jump in the discussion.
No email address required.
More options
Context
You're too poor for them to care. I didn't report the money I made from donating plasma and everything was fine
Jump in the discussion.
No email address required.
More options
Context
There's no wash sale rule for crypto: https://taxbit.com/blog/a-quick-guide-to-the-wash-sale-rule-and-cryptocurrency
Jump in the discussion.
No email address required.
I still made a lot of money off some exchanges, it's just that at the end I ended up losing it all + more. So even without the wash rule I'd be paying more taxes because of capital gains from particular successful trades.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
If you're really paranoid about it, there's a feature on their website to get a 'transcript' of every document they've received from reporting institutions about your income during the year (assuming they didn't change it in the recent redesign; didn't look this year). Typically that's only going to be W-2s and certain kinds of 1099s. If it's not on there, they don't know about it in any form that a computer could automatically catch you on. Crypto people tend to get more manual attention as I understand it, but you're just not that important. Mostly, they just want to get paid, so your realistic worst case isn't the penalties assraping, it's cutting them a check for the balance.
t. got creative with reporting some income sources long enough ago that I don't mind posting about it online.
Jump in the discussion.
No email address required.
More options
Context
Since when did we let poors in to this site?
Jump in the discussion.
No email address required.
More options
Context
You're probably not worth going after.
The IRS didn't receive cost basis info from brokerages until ~2008. Depending on your crypto brokerage, they might not have submitted any docs to the tax glowBIPOCs. Anyway, there are bigger fish to fry in the crypto space. For the stock trades, the IRS definitely knows you cheated because the brokerage sends them a Form 1099-B.
Jump in the discussion.
No email address required.
neighbor wtf is wrong with the US tax system. If they send the form why the frick does the person have to fill it? I mean, surely OP was not as r-slurred as to change an already filled out field?
Jump in the discussion.
No email address required.
Intuit lobbied the government to keep tax filing annoying, and the entire IRS runs off of 60-year old COBOL code.
This isn't getting fixed anytime soon. A smart person can probably figure out ways to beat/game the system.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
i'm only going off leaf tax stuff (which may be more stringent bc the tax rate is so high and it goes toward healthcare n shit?) but i lie on my taxes all the time, tho most of my tax fraud is stuff the government can't rly trace. also a poorcel. idk about your specific situation but i've never had an issue, i would imagine since the refunds we're getting are so small they don't care to audit but that's just my experience. how easy would it be for them to find out about your thing if they investigated? could it pass as a mistake? my first year i made a mistake and the CRA sent me a letter saying i had to pay back the extra return amount i got, if it's only $200 that's not too bad rite?
i didn't even actively pay mine, i was broke and in university so i just let the negative balance sit until the next year when my new return paid off that balance 4 me. they didn't hound me or add extra fees or anything. idk if IRS is as nice tho
tldr if you're not committing fraud you are gay (pejorative)
Jump in the discussion.
No email address required.
That was a mistake. You're about to find out the hard way why.
Jump in the discussion.
No email address required.
nooooooooo i'm gonna get audited now
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
You fricked with the IRS for 200 bucks? Poors, smh.
Jump in the discussion.
No email address required.
More options
Context
Jump in the discussion.
No email address required.
nibba if dey gon track peepz down by anon posting in this hole of a forum dey gon fin an'thing an'way
Jump in the discussion.
No email address required.
More options
Context
More options
Context
whatever they were, u just increased them by posting abt it on an Egyptian thespian website, dummy
Jump in the discussion.
No email address required.
More options
Context
Jump in the discussion.
No email address required.
Hey man chill out... I donate to this site...
Jump in the discussion.
No email address required.
Jump in the discussion.
No email address required.
You're scaring me smalls.... here's some dramacoin... completely unrelated...
Jump in the discussion.
No email address required.
While you must declare bribes you receive as income, bribes given are non-deductible
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
As long as what you're doing isn't super r-slurred you should be fine. The IRS enforcement/auditing side is super understaffed from what I understand.
Jump in the discussion.
No email address required.
69 coins!
Jump in the discussion.
No email address required.
You better report that.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
Experienced autist here.
One thing you can always rely on is the utter incompetence of government agencies. The IRS donβt have the resources to double check every millionaires tax return, let alone us poor r-slurs. Itβs one of the greatest advantages that poorcels have.
If you every get called out on it (you wonβt) just play dumb. If you managed to lose $8k then it makes sense you mightβve misunderstood how capital loss deductions work.
Jump in the discussion.
No email address required.
More options
Context
How are you even that poor? I don't even understand. I lose and gain more than your entire years worth of income when Ethereum moves 1%.
Jump in the discussion.
No email address required.
All the places I worked at last year only offered part time work to avoid benefits. Couldn't get a second job either because the schedules changed dramatically every week, and I had no control over which days or even time of the days I was allowed to work. People who put restrictions on their work week would get replaced, so I was too afraid to ask.
Jump in the discussion.
No email address required.
I don't get how you eat?
Jump in the discussion.
No email address required.
I worked at various restaurants. I just ate whatever the linecooks fed me or whatever leftovers we had.
Jump in the discussion.
No email address required.
dear god and I thought my wagie life was bleak
Follower of Christ
Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
Jump in the discussion.
No email address required.
More options
Context
Jump in the discussion.
No email address required.
I got sick of the BS and falsified my resume, got hired as a professional in a field you need a bachelor's / certs for. Best part is I am the best performing employee too and everyone loves me. Hahahaha, frick credentials.
Jump in the discussion.
No email address required.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
bussy is at the bottom of mazlow's hierarchy
Jump in the discussion.
No email address required.
More options
Context
More options
Context
r u that dog from Lady and the Tramp?
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
https://www.hrblock.com/tax-center/irs/audits-and-tax-notices/six-ways-lying-tax-return-can-get-trouble-irs/
https://www.credit.com/blog/lying-on-taxes-166824/
https://www.jacksonhewitt.com/tax-help/tax-tips-topics/tax-fraud/what-happens-if-you-lie-on-your-taxes/
https://www.investopedia.com/articles/personal-finance/032014/six-ways-your-tax-preparer-knows-youre-lying.asp
From a lazy google search. TL;DR: You're probably fricked, but I think you'll be fine.
Jump in the discussion.
No email address required.
More options
Context
Clear it up now. I cant say whether or not they will find it, but it will potentially save you a headache in the future. Imagine in a few years you cash out 100k+.... the irs will most likely look into you and find this
Jump in the discussion.
No email address required.
More options
Context
Is your effective tax rate below 25%? No? Don't worry about it.
Fricking respect the wash sale tho.
Jump in the discussion.
No email address required.
Technically my crypto was done over a year through various purchases and sales, but this was on coinbase pro which didn't provide me a 1099 so I said frick it and just added up the Deposit / Withdrawal tabs like a monkey. Honestly even if I wanted to be honest I don't think I would have been able to provide an accurate report, because I messed with so many currencies at so many prices, there's just no way I would have been able to keep track of it.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
I hope you're right
Jump in the discussion.
No email address required.
I will be messaging you on 24.04.2022, 00:05 UTC to remind you of this comment
Jump in the discussion.
No email address required.
More options
Context
More options
Context
Nigqa the standard deduction is 12k you dont even owe taxes lol.
Jump in the discussion.
No email address required.
lol that's true. Even if they found out they'd just be like uhhhhh we did the math and you actually owe us 5 dollars
Jump in the discussion.
No email address required.
More options
Context
More options
Context
Jump in the discussion.
No email address required.
How the frick do you make 14k a year and still gamble on crypto lmao
Jump in the discussion.
No email address required.
Wagie jobs are depressing and there's no way out of the misery if you keep working there. I was so desperate that I clung to a faint hope and gambled on it, because the stocks and crypto were the only chance for someone like me to not be poor.
Eventually I did get out of that situation, by completely falsifying my resume and getting a professional job.
Jump in the discussion.
No email address required.
Actual Filipino jueteng enthusiast logic in action.
Jump in the discussion.
No email address required.
More options
Context
Don't listen to strags who recommend shit like VTSAX. Nobody ever got rich off that.
Jump in the discussion.
No email address required.
More options
Context
Please remind me how many rags to riches stories start with a minimum wage worker day trading and buying shitcoins.
Jump in the discussion.
No email address required.
Clearly you and I don't get the same youtube advertisements.
"Hi. My name is Caleb,
four years ago, I flunked out of college due to bad grades
last year... I was still working a shitty dead end job in food service
What I am about to tell you, in this simple youtube ad...
...can transform your life, just like it transformed mine
...so please my friend, please don't skip this ad, I know you have a feeling this is impossible
*...or that this is some sort of scam, or unachievable for you..."
but my simple methods have helped thousands of people not only escape poverty
but achieve livable incomes...
even six figure incomes...
and in some cases, even seven figure incomes!!!"
you don't need any special skills for this method
*this isn't some get rich quick scam, or obnoxious multilevel marketing"
This is a tried and proven method, that has worked for CENTURIES
and I am ready to explain to you, exactly what it is
and by how leveraging the power of cryptocurrency
...your future can be financially transformed in as little as months
...and using the tried and true financial principles that I can teach you
...anyone who actually puts in the effort has the potential to make serious money!
but you have to ACT NOW! The world is changing and this opportunity won't be available to as many people!"
Anyway, join this guy's crypto forex-like thingy while paying $300 for his course and you too could be a college drop out millionaire (and/or a single mom millionaire).
Should I be concerned the youtube algorithm thinks these desperate ads are relevant to my lifestyle?
Jump in the discussion.
No email address required.
OUT!
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
poors make up the bulk of targets for the IRS
So for instance you. Since you fill out these forms and all of your income is tracked (lol) so you just get flagged when you lie.
Lets look at me.
Now i've been seen on a lot of different scenes, that means I get a lot of different cream. I have the money to have a lawyer on retainer.
If the IRS calls me tomorrow I would call my lawyer and they would take it from there and I would pay the fees to fight the IRS from the word "hello". Every document they request will go through my law partners who will do their best to shield me from an EXTERNAL non-government oversight bureaucrat gangbang.
The IRS knows that to get me for the whatever five digits I lie to them about, I will drag them through the court to get that 20k.
So for you they will absolutely get you for the money you lied about because you are going to shit yourself when they call or email you.
When they call me I will be like, "oh nice" and see how long I can get them to fight me for 10k or something in back taxes or whatever. Like if I can get the government to spend a quarter of a million dollars in salaries to come after me for 5k I will spend 50k to do it.
Frick the government and frick all the people that work for them!
Jump in the discussion.
No email address required.
amen
Follower of Christ
Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
Jump in the discussion.
No email address required.
More options
Context
Honestly whoever wrote the tax code needs to be exorcised.
Jump in the discussion.
No email address required.
idk unleashing whatever is responsible for the tax code might cause natural disasters
Jump in the discussion.
No email address required.
More options
Context
Intuit is extremely aggressive in
bribinglobbying politicians andbribinghelping the media to kill any legislation that will simplify the tax code because it would hurt sales of TurboTax. A company that brings in $10 billion in revenue is able to cost $100 billion in losses to the government and taxpayers who have to deal with this shit. The next time somebody tells you that the other race/religion/gender/whatever is the cause of your problems, remember that Intuit is fricking everyone on a very personal level.Jump in the discussion.
No email address required.
More options
Context
More options
Context
Good job bobby, here's a star
Jump in the discussion.
No email address required.
putting it on the board thank you lpb
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
Best start stretching that bussy
Jump in the discussion.
No email address required.
More options
Context