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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 1

in #taxes7 years ago

I'm 100% with you about finding a fair tax interpretation for Steemians. Specifically considering that most of us are in for the long run and will keep on sitting on our time investments without really getting significant short-term financial benefits.

One other thing we should also consider: it doesn't make sense for the IRS to pay an employee hundreds or thousands dollars of man hours in order to get their hands on about the same or even less amount that it would cost them. Can you imagine the time an agent could spend going through all of one account's transactions on the blockchain for the duration of an entire year? This leave us with the advantage of developping a justified tax strategy that they could be forced to accept. I'm looking forward to see the one you'll be proposing.