You are viewing a single comment's thread from:

RE: Coinbase, Bitcoin, IRS?

I think the best thing to do is build up coins on your own wallet then go to a country with more reasonable tax laws. That's the good thing about earning online in a currency that's not tied to any country. We can vote with our feet and cash out where we please.

Sort:  

Except the US is trying to make it a rule that you must declare any virtual currencies that you hold in excess of $10k at the border...

If you are a US citizen, you are required by law to pay taxes to the USA even if you don't live in the country. For example, I pay the UVA tax in El Salvador and the US income tax.