t will not take long before most state governments will create legislation that makes the avoidance of sales and income taxes illegal with high penalties. It's just a matter of time.
CLUE: We're not talking about illegal drugs. Stick with the topic if that's possible
So, you're saying the use of bitcoins to avoid taxes is okay, because drug trafficking is okay? LOL You're really stupid! I'm otta here.
Kurgman calls bitcoins an "antisocial medium" to which I agree.
By ANDREW R. JOHNSON
The fervor over the digital currency Bitcoin has drawn interest from two of the world's largest movers of money.
Western Union Co. WU -0.28% and MoneyGram International Inc. MGI +1.18% are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say.
Both companies run remittance networks commonly used by immigrants to send money to friends and family members in foreign countries. Western Union also operates a business-solutions unit that helps companies send payments to other businesses.
The firms have no immediate plans to add Bitcoin to the more-than-100 currencies in which each company processes transactions. But both say the increasing popularity of the virtual money has prompted them to consider whether they should make it available in the future.
"If Bitcoin continues to grow and the value is defined more internationally, we may find an opportunity for Bitcoin to be used to pay for commerce transactions through a Western Union business solution," said David Thompson, an executive vice president and chief information officer of Western Union.
Senate bill jeopardizes tax-free online shopping
By STEPHEN OHLEMACHER | Associated Press – 3 hrs ago
How you can avoid online shopping …
WASHINGTON (AP) — States could force Internet retailers to collect sales taxes under a bill that overwhelmingly passed a test vote in the Senate Monday.
Under current law, states can only require stores to collect sales taxes if the store has a physical presence in the state. As a result, many online sales are essentially tax-free, giving Internet retailers a big advantage over brick-and-mortar stores.
The bill would allow states to require online retailers to collect state and local sales taxes for purchases made over the Internet. The sales taxes would be sent to the states where shoppers live.
The Senate voted 74 to 20 to begin debating the bill. If that level of support continues, the Senate could pass the bill as early as this week.
Supporters say the bill is about fairness for businesses and lost revenue for states. Opponents say it would impose complicated regulations on retailers and doesn't have enough protections for small businesses. Businesses with less than $1 million a year in online sales would be exempt.
You just don't understand how taxation laws work.
When anyone avoids paying taxes, it's illegal. Put that in your pipe and smoke it, because it seems that's the only way you'll learn something.
From Wikipedia, the free encyclopedia
Tax noncompliance is a range of activities that are unfavorable to a state's tax system. This may include tax avoidance, which is tax reduction by legal means, and tax evasion which is the criminal non-payment of tax liabilities.