A recent poll on Twitter held amongst more than 9000 people asked about their attitude to pay taxes associated with crypto investments and trading. It turned out that more than a half of respondents are reluctant to do so.
Only a fifth of the participants admitted that their tax duties are already filed and paid, and 17% are “filing and have $ ready”. The poll was published by NY-based investor and entrepreneur Ryan Selkis.
Earlier, the IRS has stated that instead as currency, it shall treat cryptocurrency as property for the purpose of taxation. In particular cases, “taxpayers could be subject to criminal prosecution for failing to properly report the income tax consequences of virtual currency transactions,” as the IRS confirmed this March.