Reply to post: Re: US Inland Revenue Service?

Uncle Sam wants 'ethical hackers' to crack its planetary defenses, but don't expect a pay-day from this bug bounty

bombastic bob Silver badge

Re: US Inland Revenue Service?

The I.R.S. doesn't like tax evasion much. So if anyone bought and sold a lot of bitcoin and made real money on it, and did NOT declare all that on the tax forms [it's considered "foreign currency" and apparently has a special place to declare it, though i always use tax software that just asks me about it], then the IRS will be wanting to find out how much money you made and bill you for the unpaid tax, with interest and a LOT of penalties. Yeah, they do that.

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