Cryptowallet that allows for transfer to bank account and doesn't report to IRS?

[Biggerp73]

Is there a cryptowallet out there that both allows for sale of crypto/transfer to bank account in addition to sending/receiving crypto exchanges, that doesn't report to the IRS?

 

[Zarati]

The exchanges will always report 10k plus to IRS, banks too

 

[bigboy05]

Binance does not end out tax forms. You can buy, trade, convert and off load to your bank account without worrying about being reported. However, any US bank by law has to report 10k or more to the IRS so there is the kicker. They can even report under that if the transactions seem shady.
I have never received a tax form from Coinbase, personally, and I have onboarded/offloading a decent amount of money. To my understanding (may want to verify this) Coinbase only sends out tax forms if you have made money staking assets on Coinbase but I'm not 100% sure on that. I've read Coinbase has to send out tax documents once you hit a certain amount but like I said I have never received anything.
Onboarding fiat, holding in a wallet, sending to an external wallet...none of these are reportable activities.
What your asking is the same question everyone is crypto is asking...how do I get my money without the IRS knowing...lol. If you figure it out DM me.

 

[A50#]

The exchanges will always report 10k plus to IRS, banks too

Pretty sure it's anything over $600 is reported now.

 

[Nicky_Slim24]

Binance does not end out tax forms. You can buy, trade, convert and off load to your bank account without worrying about being reported. However, any US bank by law has to report 10k or more to the IRS so there is the kicker. They can even report under that if the transactions seem shady.
I have never received a tax form from Coinbase, personally, and I have onboarded/offloading a decent amount of money. To my understanding (may want to verify this) Coinbase only sends out tax forms if you have made money staking assets on Coinbase but I'm not 100% sure on that. I've read Coinbase has to send out tax documents once you hit a certain amount but like I said I have never received anything.
Onboarding fiat, holding in a wallet, sending to an external wallet...none of these are reportable activities.
What your asking is the same question everyone is crypto is asking...how do I get my money without the IRS knowing...lol. If you figure it out DM me.

Thanks for the info

 

[astrosfan123]

if you figure that out let me know ha, i use cash app to buy btc and fund my sportsbook. When i cash out sportsbook it sends btc back to cash app where i will then quick sell for cash then deposit cash back to my bank account. I hear chirps of a btc debit card that can be used as cash. I need to look further into that and see if that is tracked too. Best case though is to just pay the taxes. With the types of deposits i randomly had coming into my bank account i rather be safe than sorry.

 

[mbuilder]

Is there a cryptowallet out there that both allows for sale of crypto/transfer to bank account in addition to sending/receiving crypto exchanges, that doesn't report to the IRS?

Don`t try and out smart the IRS it is not worth it. it usually takes a few years for things like this to catch up to you and then with the penalty, maybe jail, interest and principle YOU WILL PAY, and pay dearly too. My uncle has worked for the IRS over 20 years and said that YOU MUST declare ALL crypto income and the IRS IS targeting these people that cheat on a substantially increased effort with a much larger crew than ever 2 years ago.
In short... crypto IS BEING TARGETED BIG TIME, just have to be patient and they will find you.
Good Luck!

 

[Biggerp73]

I assumed there must be some way to get around it given the fact nearly every source on this board all uses Bitcoin payments. Are sources paying taxes?

 

[BigNJ]

Check out Shakepay

 

[pesty4077]

I assumed there must be some way to get around it given the fact nearly every source on this board all uses Bitcoin payments. Are sources paying taxes?

Sources aren't exactly giving you out personal information are they? Paying taxes on an illegal operation is beyond stupid.

Why you even asking then? All short term purchase and sell of cryptos have to be reported to IRS. Cheat the IRS and take your chances they will catch you or not.