Quote:
Originally Posted by L-Pink
YOU are responsible for declaring taxes on any investment to the IRS. Any gain on bitcoin value is taxable just like apple or google stock shares. If you wish to become a tax cheat and commit tax fraud when signing your tax return that's your decision.
Who taxes a carpenter when he builds a deck on an "anonymous" customers house? Who taxes an "anonymous" customers motorcycle at a repair shop? It's called declared income. Not declaring tends to bite quite a few people, eventually.
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Thats my point. If you wish you can declare your cash income and bitcoin income. But you post sounded that its better to pay cash because of taxes and declaring, while actually you should declare both.