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Our tax whisperer 鈥� long-time tax accountant Don DeSantis 鈥� told me about the IRS鈥檚 campaign to make sure Bitcoin transactions are properly taxed.

The IRS suspects that a lot of people are using cryptocurrency . Among the approximately 20 million Americans who trade in Bitcoin, the IRS figures only 40% are accurately reporting their earnings.

The IRS will be hiring more cryptocurrency experts, and Don says they鈥檝e also been sending out friendly letters to Bitcoin users. Here鈥檚 the gist:

鈥淗i鈥� we鈥檙e the IRS. We want to help educate you about cryptocurrency 鈥� and amend them.鈥�

Yet given the current state of IRS technology, Bitcoiners are probably not too worried.

It’s no surprise that by some estimates, tax evasion has reached a trillion dollars a year. That would pay for some pretty decent infrastructure.

I bring this up because I think the IRS has a fundamental responsibility that goes beyond revenue collection, and that it is the IRS’s responsibility to make sure that law-abiding middle-class taxpayers don’t feel like suckers.

Which is exactly how we feel when we read about Bitcoiners — or anybody 鈥� getting a tax break that we don鈥檛.

It鈥檚 bad enough when they get away with it legally. But for someone to get away with it illegally just makes you want to rip your mask off and sneeze.

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