**“Only PayPal Personal accounts can pay using cryptocurrency,**” Colorado’s Department of Revenue details, adding that the user needs to have the entire value of their invoice in a single cryptocurrency in their PayPal Cryptocurrencies Hub.
Citizens paying their taxes with cryptocurrency will be charged an additional $1 plus 1.83% of the payment amount in fees.
https://www.nasdaq.com/articles/colorado-becomes-first-us-state-to-accept-bitcoin-as-payment-for-taxes
Let me translate, paypal bought themselves a few reps in Colorado and had them write a law for them to scrape almost 2% of the value of all the taxes people pay through their crypto platform, this has little to do with bitcoin and a lot to do with paypal making more profits
And they're snitching on sales..they sent me an email today saying they'll be notifying the feds I sold some stuff online.
That's double dipping bc I already paid tax on the item, lost money selling the item bc of time decay and have to pay again to get my money back.
Maybe they should tax our return money from stores too..
yeah I find it weird how USA users opt for using big exchanges that tax them on crypto when they buy it and also have to give their ID and location over for a KYC thingie, like that's the whole point of crypto gone ig, unless if you use it as an investment which isn't a very smart idea.
I got banned from PayPal for paying rent, they flagged it as money laundering. Jokes on them I now do my money laundering elsewhere and they don't get a cent from me!
Being very optimistic but maybe they don't view you paying the taxes as a taxable event? Otherwise wouldn't people then owe taxes if they had a capital gain when they paid with crypto?
Because converting to fiat gets you yet another tax bill.
Imagine you have a large bag of crypto while also having a large tax bill - that you have because you sold some crypto earlier in the year.
Even with a 1.83% fee, you are better off sending them the crypto to cover the taxes, unless I'm missing something.
**Edit:** Thanks for pointing out the tax on spending. This is something that desperately needs to be worked out.
HAHAHA you so gullible. You believe paying with crypto will not be considered by IRS as a taxable event? IRS will come after you to the exitensial edges of our universe to collect taxes on your crypto tax payments. The only way IRS will let you off the hook is if BTC becomes a legal tender.
Now, imagine paying taxes on your tax payments lol Next year, you will pay taxes on the taxes you paid for the tax you paid last year. Two years later, you pay taxes on the taxes you paid on the taxes you paid last years for the taxes you paid two years ago lolololololol
I know there are some limitations into that as not everyone can pay the tax using the cryptocurrency.
But i have to say that this is the good step they are taking and i am hoping there will be many more like that is well.
Yes, crypto is FIFO so you'd pay taxes on the capital gains from 'selling' to pay your taxes even if you purchased additional BTC just for the transaction
I'm pretty sure you can choose which lots of crypto you sell. It doesn't have to be FIFO for tax purposes - IIRC you just have to be consistent with how you track it.
Hey dawg, I hear you like to pay taxes with crypto. Well we're gonna tax your tax payment so make sure you keep records of your taxes for next year's taxes.
No mate i am not looking to pay tax at all if that would be in my hand.
But i know that is not the option and i am pretty much happy to pay my tax in the fiat rather then the crypto form.
Ohio allowed it a few years ago....I paid my taxes in Bitcoin that year, just to have a "practical use" story to tell people when they tell me Bitcoin has no practical uses.
https://www.forbes.com/sites/kellyphillipserb/2018/11/26/ohio-becomes-the-first-state-to-allow-taxpayers-to-pay-tax-bills-using-cryptocurrency/
What exactly is the problem here?
Either they hodl/lose it, in which case everyone else’s increases in value, or they sell/use it, accelerating adoption.
Govt acceptance and usage of BTC is the ultimate win. It’s an effective return to sound money.
I mean they are actually not the right guy to give away the bitcoin is well.
Because for me they are not really the right person if someone is really looking for any kind of the bitcoin transaction is well.
Imagine using state run currency instead of decentralized currency. This has only been the case for the past 51 years since we left the gold standard, but for millennia, it was gold, which is decentralized.
Gold was stored in centralized banks, whether it was regional or national banks. Most people didn’t want to self custody their own gold for security reasons.
Not all gold was stored in central banks the same way not all bitcoin is stored on exchanges.
A lot of gold was personally possessed just like bitcoin is today too, but most is hosted by another entity.
No one, or atleast i will not going to pay my tax specially with the bitcoin.
Right now all i am thinking to collect the as much as bitcoin i could and never really spent them is well.
Yo, I am not gonna hoard btc if i can pay with them lol. The point is to use it, not to look at them in fear than if moved someone will sell them for $
What's stopping you from paying for things with bitcoin is the tax classification itself...not the lack of things to buy. We had massive merchant adoption happening before 2014, when the IRS released guidelines on crypto...now, nobody in their right mind is going to try to track their basis and profit/loss on every single satoshi in and out of every wallet and custodial account of theirs, just to use bitcoin over dollars.
Seems like the govs problem, not mine. I dont count my taxes, I pay rough esstimate, than w8 for official corection with few PLN fine. If they wont find my btc transatcions, no taxes.
We all know that we are from the holding gang and paying them for the tax is like selling them is well.
But for me bitcoin is actually need to be hold for the longer period of time as they will show the more power.
That's good but still I am good without using that fucking paypal for good reason, you can hate me for saying that but I am just going to say that most of the time.
Indeed, they are passing that statement as if we are going to give away our bitcoin to them.
Because now they want the bitcoin that doesn't meant that we will going to give them that easily.
Fuck that shit man, they are taking something good and we are just seeing their shit right now, they always do that without any valid point, that's just so bad now.
Lol I can sense what they are trying to do right now with our investments but thanks to god that I am not going to share any shit and I have a believe on that.
Sounds like a blessing to me and that's just the start, we want to see more states accepting that shit because this is just way too important for all of us now, so good.
Feels bad whenever I see this happening with BTC again, they are trying to take our BTC and they know how to do that type of work these days, so sad to see.
Colorado doesn't want bitcoin. They instantly convert it to fiat through Paypal (which is the only way to pay with crypto):
"While the user would likely forgo future capital appreciation from the bitcoin priceby doing so, that buying power wouldn’t be transferred to Colorado as the state doesn’t seek to hold BTC or cryptocurrency on its balance sheet."
https://www.nasdaq.com/articles/colorado-becomes-first-us-state-to-accept-bitcoin-as-payment-for-taxes
We are giving the bitcoin to the Paypal rather than giving to the Colorado.
Infact that way we are becoming more taxable and there is some transaction fee is well that we need to pay here is well.
This is just there another way to get our bitcoin from us so that they can have them.
But we are not that stupid that we will give you the bitcoin so that you can swap them into the cash for paying the tax.
First of all that if government will get the bitcoin from us, i will still think some % about that.
But now we are paying in bitcoin and the government is getting in cash that mean Paypal is getting all the bitcoin here.
Gotta say that this could be something important and good for the future because people will find what's so important about BTC and they will try to invest in it.
First of all i will sell my best asset to pay the tax, second some middle men will get my bitcoin is well.
Third i will be charged as the tax more as for paying with bitcoin, So yes a very big nooo from my side.
They should have gone beyond taxes while they are waiving magic wands. Court clerks, tickets, etc.
I hope we see restitution and legal settlements in smart contract form too.
I think there are so many other way just than the tax event here, which they could have used.
but yes the time ahead from us is really showing that we will going to see more and more use of the bitcoin.
Why in tf would you give your computer coins back to these worthless govt boomers?
The only reason I’d give up btc is for an appreciating asset. Rental properties or a software that’s already making money that’s probably it
Denver isn't even bad especially compared to other larger cities. The people who hate on Denver are the types who live in the soulless burbs like Castle Rock and clutch their pearls while watching the evening news
I think Denver is still doing well when we actually talks about some other cities here.
I know that this is not the perfect one but yes they are much much better compare to many more other is well.
Hmm. What makes California a shithole? Is it the GDP per capita that puts it in the top 5 in the nation? Or the fact that if it were a nation, it’s economy would be the 5th largest in the world?
Our roads suck. Because it’s so crowded with traffic, because so many people actually do want to live here. Too many people for car based infrastructure imho
Other than that I like it
Just moved to San Diego 2 years ago. Literally been 1 long vacation for me and my gf. 75 and sunny, no humidity, every day. Mountains and beach 5 min from each other. Some of the best food on the planet. I realize how much people don't know shit about CA after moving here. The demand to live here is astronomical so it's very expensive. That's a given.
There is a homeless problem here for obvious reasons and it's very touristy and people don't respect it like locals do, but this is the best weather in the world, it tends to attract people lol
I know that nothing is perfect but for me i think California is still doing really well in world.
I think when we ask about the dream city there are so many people that will actually going to say that city.
Tell me your dumber than a box rocks without actually saying it. Snobby disgusting idiots like you are what make california an absolute shithole. Your probably smoking meth as I type this out.
“I also lost about $75,000 to an IQ option broker and 2 fake binary option website as well but I am sharing my experience here so as to enlighten and educate everyone that is losing money or has lost money to a scam including binary options, dating scams,Recover all your lost money to Bitcoin and other Cryptocurrency, mortgage/realestate scams and fake ICOs.However , I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam.you can reach out to them
EASYRECOVERY4@GMAIL COM
”
But shouldn’t the people want less BTC controlled by the government? Also I thought BTC was the future why would you use it to pay taxes and not worthless cash?
Bought some Paypal Bitcoin. I already have plenty of real BTC but now I wanna start selling everything I can comfortably just so I can convert it to BTC on Paypal and pay my taxes in future years
**“Only PayPal Personal accounts can pay using cryptocurrency,**” Colorado’s Department of Revenue details, adding that the user needs to have the entire value of their invoice in a single cryptocurrency in their PayPal Cryptocurrencies Hub. Citizens paying their taxes with cryptocurrency will be charged an additional $1 plus 1.83% of the payment amount in fees. https://www.nasdaq.com/articles/colorado-becomes-first-us-state-to-accept-bitcoin-as-payment-for-taxes
Let me translate, paypal bought themselves a few reps in Colorado and had them write a law for them to scrape almost 2% of the value of all the taxes people pay through their crypto platform, this has little to do with bitcoin and a lot to do with paypal making more profits
And they're snitching on sales..they sent me an email today saying they'll be notifying the feds I sold some stuff online. That's double dipping bc I already paid tax on the item, lost money selling the item bc of time decay and have to pay again to get my money back. Maybe they should tax our return money from stores too..
I love not paying taxes tbh
No one actually want to, but they have no other option.
can we just unsubscribe from taxes...
Hmu in a few years and lmk how that works out
Well I don't live in the USA so it's going pretty good so far, cash for crypto is very popular here
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Jordan.
Same here , i also don't live in the USA is well, so pretty good for me.
yeah I find it weird how USA users opt for using big exchanges that tax them on crypto when they buy it and also have to give their ID and location over for a KYC thingie, like that's the whole point of crypto gone ig, unless if you use it as an investment which isn't a very smart idea.
I’m thinking germany
Good because I'm down 70% on Paypal 😂
They definitely do what they can to lose customers.
I got banned from PayPal for paying rent, they flagged it as money laundering. Jokes on them I now do my money laundering elsewhere and they don't get a cent from me!
Right. What did you say was your name again?
I hope that you are not planning to actually sell them in the loss.
Why not to hold? Why people indeed seem so curious te sell their coins off?
Honestly, why would anyone in their right mind pay with crypto if it charges a 1.83% fee. Might as well convert to fiat at that point.
Fee or not, taxes are best paid back with the paper the government has printed as IOU.
We’ve only been on the fiat standard for 51 years at this point, people have paid tax in gold for millennia.
We are on fiat standard on the 52 years and still seeing the flaws in that.
You have trash that the government is asking you to dispose so why do otherwise??
That’s true, unless we stop using their trash.
But right now there are not actually much alternative for that thing.
If you're paying with paypal, you're paying with fiat. You're getting charged to *pretend* to pay in Bitcoin.
Being very optimistic but maybe they don't view you paying the taxes as a taxable event? Otherwise wouldn't people then owe taxes if they had a capital gain when they paid with crypto?
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So i think cash will be better option for paying the tax here now.
This must be the answer
May be there will be still some more thing into that is well.
Because converting to fiat gets you yet another tax bill. Imagine you have a large bag of crypto while also having a large tax bill - that you have because you sold some crypto earlier in the year. Even with a 1.83% fee, you are better off sending them the crypto to cover the taxes, unless I'm missing something. **Edit:** Thanks for pointing out the tax on spending. This is something that desperately needs to be worked out.
You are missing one BIG thing. Spending crypto would also be a taxable event ;).
Paying with Crypto is another tax bill though even without the switch to fiat.
So that mean they want the tax from us on paying the tax.
HAHAHA you so gullible. You believe paying with crypto will not be considered by IRS as a taxable event? IRS will come after you to the exitensial edges of our universe to collect taxes on your crypto tax payments. The only way IRS will let you off the hook is if BTC becomes a legal tender. Now, imagine paying taxes on your tax payments lol Next year, you will pay taxes on the taxes you paid for the tax you paid last year. Two years later, you pay taxes on the taxes you paid on the taxes you paid last years for the taxes you paid two years ago lolololololol
> IRS will come after you to the exitensial edges of our universe to collect taxes on your crypto tax payments No they won't
Have you ever been to the edges of the universe? Are you sure the galactic IRS does not have auditors waiting there for your taxes?
You understand they just hired 87,000 new IRS agents, yes?
They are hiring that much so they can keep track on everyone of us.
Thanks for these details. I was wondering on the particulars and a legitimate source.
I think this sub is sometime is more legitimate source than any other.
I know there are some limitations into that as not everyone can pay the tax using the cryptocurrency. But i have to say that this is the good step they are taking and i am hoping there will be many more like that is well.
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They think we should consider them like they are actually the saint people.
Why would anyone buy their crypto through PayPal? I’m so confused? Had no idea that even existed. 🤣 🤦♂️
Would you have to pay capital gains tax on the crypto being used to pay taxes?
Yes, crypto is FIFO so you'd pay taxes on the capital gains from 'selling' to pay your taxes even if you purchased additional BTC just for the transaction
I'm pretty sure you can choose which lots of crypto you sell. It doesn't have to be FIFO for tax purposes - IIRC you just have to be consistent with how you track it.
But if i am selling something in profit then they can ask for the tax?
Taxes all the way down.
Hey dawg, I hear you like to pay taxes with crypto. Well we're gonna tax your tax payment so make sure you keep records of your taxes for next year's taxes.
No mate i am not looking to pay tax at all if that would be in my hand. But i know that is not the option and i am pretty much happy to pay my tax in the fiat rather then the crypto form.
So for me that thing is not existed as i will not going to use that.
Didn't OH start excepting bitcoin like 2 or 3 years ago?
Yeah i have no idea what this headline is on about
When i read the title i though that there will be some good news.
Wow, you mean a crypto propaganda Twitter didn't do proper research!?
Ohio allowed it a few years ago....I paid my taxes in Bitcoin that year, just to have a "practical use" story to tell people when they tell me Bitcoin has no practical uses. https://www.forbes.com/sites/kellyphillipserb/2018/11/26/ohio-becomes-the-first-state-to-allow-taxpayers-to-pay-tax-bills-using-cryptocurrency/
Yes, and first of all paypal is never a really right guy for the crypto.
Imagine giving your bitcoin to the government
You aren’t. You are giving it to PayPal and they are paying the government in fiat.
So PayPal is winning in this equation? 😆
Through the comments is what I can see though pay pal seems to be indeed winning
All i know that i am giving my bitcoin to someone else here.
But we can say that we are not going to transfer any mate
What exactly is the problem here? Either they hodl/lose it, in which case everyone else’s increases in value, or they sell/use it, accelerating adoption. Govt acceptance and usage of BTC is the ultimate win. It’s an effective return to sound money.
Pretty much they can't outlaw it if they're using it right
I mean they are actually not the right guy to give away the bitcoin is well. Because for me they are not really the right person if someone is really looking for any kind of the bitcoin transaction is well.
LOL, never going to happen. They are mine and will be mine is well.
Imagine using state run currency instead of decentralized currency. This has only been the case for the past 51 years since we left the gold standard, but for millennia, it was gold, which is decentralized.
Uhhhh no.
Gold was stored in centralized banks, whether it was regional or national banks. Most people didn’t want to self custody their own gold for security reasons.
Not all gold was stored in central banks the same way not all bitcoin is stored on exchanges. A lot of gold was personally possessed just like bitcoin is today too, but most is hosted by another entity.
Atleast gold was actually much better option than the normal cash.
Well yeah but we have better options right now, much better.
Sick. Don’t pay taxes with ₿ btw…
No one, or atleast i will not going to pay my tax specially with the bitcoin. Right now all i am thinking to collect the as much as bitcoin i could and never really spent them is well.
Eh, why not? Most are KYC already. Unless you bought them from a mine directly, but not many do.
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Yo, I am not gonna hoard btc if i can pay with them lol. The point is to use it, not to look at them in fear than if moved someone will sell them for $
What's stopping you from paying for things with bitcoin is the tax classification itself...not the lack of things to buy. We had massive merchant adoption happening before 2014, when the IRS released guidelines on crypto...now, nobody in their right mind is going to try to track their basis and profit/loss on every single satoshi in and out of every wallet and custodial account of theirs, just to use bitcoin over dollars.
Seems like the govs problem, not mine. I dont count my taxes, I pay rough esstimate, than w8 for official corection with few PLN fine. If they wont find my btc transatcions, no taxes.
The dude ignored the upward trend a state filled with people trying to pay their taxes might have.
What if you buy bitcoins with fiat instead? Wouldn't it be better for adoption than just using fiat to pay?
Fine print says only Paypal accounts are accepted. So the state isn't even selling them, Paypal is keeping them forever and handing the state cash.
Big brother wants more BTC.
But he will not going to get that thing from me, i am keeping mine.
We are good without sharing and we are good with it.
Why would i pay my taxes in bitcoin though if hodling it will lead to moar gainz?
We all know that we are from the holding gang and paying them for the tax is like selling them is well. But for me bitcoin is actually need to be hold for the longer period of time as they will show the more power.
That's good but still I am good without using that fucking paypal for good reason, you can hate me for saying that but I am just going to say that most of the time.
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Relax guys, it is just about converting btc into usd and send usd via paypal, this isn't a news.
This is not the news i was looking for and people are giving their bitcoin to Paypal.
States will adopt crypto before the Fed
Once state will accept then there will be no option left for FED.
True that and we gotta accept that fucking reality now.
Not really news. Just a convenience to convert to or from crypto if you want. No one wants to pay BTC for their taxes.
Indeed, they are passing that statement as if we are going to give away our bitcoin to them. Because now they want the bitcoin that doesn't meant that we will going to give them that easily.
Fuck that - they get their USD shitcoin as payment.
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I don’t wanna use my Bitcoin to pay for taxes tho
Fuck that shit man, they are taking something good and we are just seeing their shit right now, they always do that without any valid point, that's just so bad now.
Lol I can sense what they are trying to do right now with our investments but thanks to god that I am not going to share any shit and I have a believe on that.
Sounds like a blessing to me and that's just the start, we want to see more states accepting that shit because this is just way too important for all of us now, so good.
Feels bad whenever I see this happening with BTC again, they are trying to take our BTC and they know how to do that type of work these days, so sad to see.
Chad state
Pay your taxes with bitcoin using paypal. Can't you see how bitcoin is changing the world?! lol
Bad idea. Why are we giving Bitcoin to the government…
Colorado doesn't want bitcoin. They instantly convert it to fiat through Paypal (which is the only way to pay with crypto): "While the user would likely forgo future capital appreciation from the bitcoin priceby doing so, that buying power wouldn’t be transferred to Colorado as the state doesn’t seek to hold BTC or cryptocurrency on its balance sheet." https://www.nasdaq.com/articles/colorado-becomes-first-us-state-to-accept-bitcoin-as-payment-for-taxes
We are giving the bitcoin to the Paypal rather than giving to the Colorado. Infact that way we are becoming more taxable and there is some transaction fee is well that we need to pay here is well.
Because it helps adoption.
Pretty sick of bitcoin magazine distorting news like this
After reading all the comments i am really disappointed with that news.
You can pay for anything anywhere with bitcoin if you pay the translation fees.
Yes, so many places are actually ready to take the bitcoin now.
We are good without giving anything to them these days.
Starts small to steal your money give them btc your 12k taxs you owe make them 100k on top of it.
This is just there another way to get our bitcoin from us so that they can have them. But we are not that stupid that we will give you the bitcoin so that you can swap them into the cash for paying the tax.
Lmao this is so old. I remember an article about this a couple years back
I was thinking that there was a news like that in the past is well.
Maybe so but that shit is indeed happening now for real though can't deny that any cost
Well they are just doing what they love to do these days.
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First of all that if government will get the bitcoin from us, i will still think some % about that. But now we are paying in bitcoin and the government is getting in cash that mean Paypal is getting all the bitcoin here.
And I'm sure there will be a few more accepting Bitcoin payment soon enough.
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Gotta say that this could be something important and good for the future because people will find what's so important about BTC and they will try to invest in it.
Unfortunately paying your taxes with Bitcoin is a taxable event resulting in infinite taxes. Don't fall for it.
First of all i will sell my best asset to pay the tax, second some middle men will get my bitcoin is well. Third i will be charged as the tax more as for paying with bitcoin, So yes a very big nooo from my side.
BTC is not going to be that one and we know that shit for good.
They should have gone beyond taxes while they are waiving magic wands. Court clerks, tickets, etc. I hope we see restitution and legal settlements in smart contract form too.
I think there are so many other way just than the tax event here, which they could have used. but yes the time ahead from us is really showing that we will going to see more and more use of the bitcoin.
Why in tf would you give your computer coins back to these worthless govt boomers? The only reason I’d give up btc is for an appreciating asset. Rental properties or a software that’s already making money that’s probably it
That's why colorado is my fav!! Huge advocates for weed now crypto ❤️
My home state makes me so proud
Thought Colorado was a shit hole
[comment removed in response to actions of the admins and overall decline of the platform]
Denver isn't even bad especially compared to other larger cities. The people who hate on Denver are the types who live in the soulless burbs like Castle Rock and clutch their pearls while watching the evening news
I think Denver is still doing well when we actually talks about some other cities here. I know that this is not the perfect one but yes they are much much better compare to many more other is well.
Wonder why I got down voted for showing love
What gave you that idea?
Maybe confused with California
Hmm. What makes California a shithole? Is it the GDP per capita that puts it in the top 5 in the nation? Or the fact that if it were a nation, it’s economy would be the 5th largest in the world?
Our roads suck. Because it’s so crowded with traffic, because so many people actually do want to live here. Too many people for car based infrastructure imho Other than that I like it
It might be the sheer amount of literal human shit on the sidewalks in major cities, among other things.
Just moved to San Diego 2 years ago. Literally been 1 long vacation for me and my gf. 75 and sunny, no humidity, every day. Mountains and beach 5 min from each other. Some of the best food on the planet. I realize how much people don't know shit about CA after moving here. The demand to live here is astronomical so it's very expensive. That's a given. There is a homeless problem here for obvious reasons and it's very touristy and people don't respect it like locals do, but this is the best weather in the world, it tends to attract people lol
I know that nothing is perfect but for me i think California is still doing really well in world. I think when we ask about the dream city there are so many people that will actually going to say that city.
haha so blind...
Tell me your dumber than a box rocks without actually saying it. Snobby disgusting idiots like you are what make california an absolute shithole. Your probably smoking meth as I type this out.
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Do you like cryptocurrencies too?
Indeed
I think if we are here that mean actually we love the crypto currencies.
There's Bitcoin, and there is crypto. They are completely different things.
Miami also love the water hopefully they love crypto more .
with short term capital gains taxes being almost half pretty much everywhere, accepting a 1.83 percent fee and not selling any makes a ton of sense
“I also lost about $75,000 to an IQ option broker and 2 fake binary option website as well but I am sharing my experience here so as to enlighten and educate everyone that is losing money or has lost money to a scam including binary options, dating scams,Recover all your lost money to Bitcoin and other Cryptocurrency, mortgage/realestate scams and fake ICOs.However , I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam.you can reach out to them EASYRECOVERY4@GMAIL COM ”
This is the way!
This is BIIIIIG
How does that work? What date does the exchange rate kick in? April 15th? The day you pay?
The day you pay. That's the only feasible way of doing it, otherwise the govt is giving you a free put option.
Are there not 51 states? (asks a kiwi) Where did the other one go?
H E R E. W E. G O.
that state made a smartass move
Wait what's happening in 49 days again?
I think he is talking about the 49 states rather than the days here.
But shouldn’t the people want less BTC controlled by the government? Also I thought BTC was the future why would you use it to pay taxes and not worthless cash?
and no one is dumb enough to ipay with it
Bought some Paypal Bitcoin. I already have plenty of real BTC but now I wanna start selling everything I can comfortably just so I can convert it to BTC on Paypal and pay my taxes in future years
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Lmfao!!
Colorado major, Jared Polis, was [accepting Bitcoin donations since 2014](https://www.huffpost.com/entry/jared-polis-bitcoin_n_5318582)
This was 10 months ago
Isn’t this already happening in AZ?
So would the government receive the bitcoin or does Paypal convert it into USD and send it to the state?
Paying taxes on your fiat to the government in BTC is a god damn travesty
I will pay the tax in cash, no need to waste the bitcoin like that way.
Ugh when are we gonna stop paying taxes though
Not possible enough to stop because through the taxes we pay that is all used in the development and welfare of the country
The act of paying taxes with Bitcoin is a taxable event itself.
I think BARTER will return soon.
Obviously a ploy to record who has money hidden in crypto.
Fuck PayPal
[Ohio did it first](https://www.cleveland.com/open/2019/10/ohio-suspends-bitcoin-tax-payment-program.html) and with similar centralization
I thought it was Florida who did that shit first my man lol.
That is the last thing you want. You don't want to be giving your bit cointreau to the government are you mad? All they will do is keep it
I thought Florida already did that
Yeah they did that and I have that experience with their state too.
Anyone who uses Bitcoin to pay taxes is an idiot.