If you are working with an exchange that complies with US requirements – they have your SSN and report any interest earnings or capital gains to the IRS on form 1099 – then if you don’t report that on your tax return it is quite likely the government will catch that and ask you for more tax + penalties. I had that happen to me in the pre-crypto days when I forgot about a single small 1099, less than $200 of interest IIRC.
The government asked you to pay taxes? Is that what you are saying?
The government doesn’t “ask”
Stop doing shrooms
If you are working with an exchange that complies with US requirements – they have your SSN and report any interest earnings or capital gains to the IRS on form 1099 – then if you don’t report that on your tax return it is quite likely the government will catch that and ask you for more tax + penalties. I had that happen to me in the pre-crypto days when I forgot about a single small 1099, less than $200 of interest IIRC.
Hello, 12,3912371239 BTC Holder here, yes I contact gov ask not to. Gotta send more BTC for every penny on list for exchange, however unlikely though.