Timeline for Can one avoid paying US income tax by being paid in Bitcoin?
Current License: CC BY-SA 3.0
12 events
| when toggle format | what | by | license | comment | |
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| Nov 29, 2017 at 19:27 | comment | added | ohwilleke | I think my next ad promoting my law office in the local alternative weekly should say "Will Work For Goats!" in big bold letters. | |
| Nov 28, 2017 at 14:51 | comment | added | DavePhD | @ChenStatsYu see this IRS page irs.gov/taxtopics/tc420 | |
| Nov 28, 2017 at 14:49 | comment | added | David Richerby | @ChenStatsYu The same way you work out how many goats you think is a fair wage for the work you did: by considering the current cash value of goats. This has all already been discussed above. | |
| Nov 28, 2017 at 14:47 | comment | added | Chen Stats Yu | @DavidRicherby some wired policy...how would they work out the tax then? | |
| Nov 28, 2017 at 13:59 | comment | added | David Richerby | @ChenStatsYu As discussed in comments to the other answer, it doesn't matter whether Bitcoin is a currency. You'd still have to pay taxes even if your employer paid you with goats, and we all agree that a goat isn't currency. | |
| Nov 28, 2017 at 8:00 | comment | added | Chen Stats Yu | Bitcoin isn't exactly "currency" so why pay taxes? | |
| Nov 28, 2017 at 2:04 | comment | added | Ryan Cavanaugh | @DigitalFire income is a net transfer of property from one party to another. Either way the federal government isn't interested in letting you define your way into tax evasion | |
| Nov 27, 2017 at 22:22 | history | edited | BlueDogRanch | CC BY-SA 3.0 |
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| Nov 27, 2017 at 22:04 | comment | added | ohwilleke | FWIW, the Idaho Supreme Court recently tried to rule that it didn't have to follow federal law, by the US Supreme Court in a swift and unanimous per curium opinion quickly overruled that holding. | |
| Nov 27, 2017 at 21:18 | comment | added | Upnorth | @digtalfire Yes, and as with any other thing of value paid as wages, including property, the payment is "reported by the employer on a W-2 and is subject to federal income tax withholding and payroll taxes," as stated in your linked ref. | |
| Nov 27, 2017 at 19:48 | comment | added | Digital fire | Bitcoin isn't defined as "income", it is defined as "property". | |
| Nov 27, 2017 at 18:49 | history | answered | BlueDogRanch | CC BY-SA 3.0 |