IRS tips

So basically, i am a student, 19 years old. I do refunds for myself as well as investing into crypto's, making my income pretty high. Anyway, I have no job, and i have around 15k deposited into my bank account already. This is just my new bank account. I also have another one which is pretty much just 1500 Welfare every month. (Told government im kicked out etc, so they send me free cash monthly). Anyway, that is LEGIT money, so IRS would not be a problem for me. But what should i do with the dirty income? What do i say to IRS when they ask where it comes from? I try to get my freinds to withdrawal, but still , my income is more than 20k on bank activity. The "income" is all e-Transfers when I sell Bitcoins, as well as deposits from third parties into my bank when i Sell cryptos.

Any tips on what I should do? Like what do i say when they ask me for this shit lol. I know some people here make thousands and wondering what they will say.

Hmm well just keep in in bitcoin if possible so you can't be tracked?

The tax man always gets what he's due. You already created a paper trail by withdrawing bitcoins.

^ Basically, you're fucked unless you figure out how to pay income taxes on it.

It's probably too late to make the cash look like a large donation/gift, so yea good luck buddy.

Originally Posted by arunforce

The tax man always gets what he's due. You already created a paper trail by withdrawing bitcoins.

i Dont mind paying taxes or anything like that, i think you guys mis understood my question. I just provided my information on my current situation, and my question is, 1) should i fill for CRA 2) Where should i Say the money comes from? Should I just say its Bitcoin investments? Not many accountants know on bitcoin situation so im not sure if i Can say that. Again money comes from refunding (people send me e transfers for my sold products), and as well bitcoin and stuff, and when i sell them it comes to me as a deposit or Interact e transfer. All in all, I have no job, and getting income.

I dont know why you guys think im fucked lol, i dont mind paying taxes, fuck that, but i just want know what to say if they ask where its from. is it cool to say its bitcoin? Will they investigate that or whatever. Its also CRA and not IRS, so i think they are "easier" in a way.

Originally Posted by BestRanked

i Dont mind paying taxes or anything like that, i think you guys mis understood my question. I just provided my information on my current situation, and my question is, 1) should i fill for CRA 2) Where should i Say the money comes from? Should I just say its Bitcoin investments? Not many accountants know on bitcoin situation so im not sure if i Can say that. Again money comes from refunding (people send me e transfers for my sold products), and as well bitcoin and stuff, and when i sell them it comes to me as a deposit or Interact e transfer. All in all, I have no job, and getting income.

I dont know why you guys think im fucked lol, i dont mind paying taxes, fuck that, but i just want know what to say if they ask where its from. is it cool to say its bitcoin? Will they investigate that or whatever. Its also CRA and not IRS, so i think they are "easier" in a way.

Just write bitcoins. It should be a non issue. You can also try to count them as investment gains if you held them over a year for a 15% taxation.

Never fuck with the government lol

I wanted to do a similar thing but hide my money so I can get financial aid

Here's tip 1, never talk about IRS and the crime you committed on a public forum.

Just say you invested in bitcoin mate, better hope you don't have coinbase because they released people's transaction when it comes to investigations involving the authorities.

Originally Posted by Hydra

Here's tip 1, never talk about IRS and the crime you committed on a public forum.

Just say you invested in bitcoin mate, better hope you don't have coinbase because they released people's transaction when it comes to investigations involving the authorities.

All i use is Coinbase lmao. Coinbase pretty much i just buy Bitcoins from there, and got a few BTC's from a friend

Coinbase, Bittrex, EzBTC.

Are you from the USA?

IRS tips

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