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Author |
Thread Statistics | Show CCP posts - 1 post(s) |
Jack Tronic
borkedLabs
153
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Posted - 2014.03.25 22:47:00 -
[1] - Quote
Per IRS rulings, all virtual currencies are now taxable as properties.
http://consumermediallc.files.wordpress.com/2014/03/n-14-21.pdf
"Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as GÇ£convertibleGÇ¥ virtual currency"
Better start pumping the ISK into offshore accounts. |
March rabbit
Federal Defense Union
1394
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Posted - 2014.03.25 22:48:00 -
[2] - Quote
what is IRS and why should anyone care about they stupid ideas? The Mittani: "the inappropriate drunked joke"
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Mr Epeen
It's All About Me
4311
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Posted - 2014.03.25 22:48:00 -
[3] - Quote
Another reason I'm happy to be anything but a U.S. citizen.
Mr Epeen There are 86,400 seconds in a day. You just saved one of them by typing 'u' instead of 'you'.-á Congratulations, dumbass! |
Lucas Kell
JSR1 AND GOLDEN GUARDIAN PRODUCTIONS SpaceMonkey's Alliance
2753
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Posted - 2014.03.25 22:53:00 -
[4] - Quote
They are talking about bitcoins and the like. ISK isn't a convertible currency. It's a number that CCP hold on your account, which they own the rights to entirely. The Indecisive Noob - A new EVE Fan Blog for news and stuff. Wholesale Trading - The new bulk trading mailing list. |
stoicfaux
4257
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Posted - 2014.03.25 23:00:00 -
[5] - Quote
Lucas Kell wrote:ISK isn't a convertible currency. EVE. You're playing it wrong.
WASABI: Warp Acceleration System Ancillary Boost Injected(Gäó)
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TigerXtrm
Black Thorne Corporation Black Thorne Alliance
543
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Posted - 2014.03.25 23:08:00 -
[6] - Quote
Jack Tronic wrote:Per IRS rulings, all virtual currencies are now taxable as properties. http://consumermediallc.files.wordpress.com/2014/03/n-14-21.pdf"Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as GÇ£convertibleGÇ¥ virtual currency" Better start pumping the ISK into offshore accounts.
ISK doesn't have an equivalent value in real currency because ISK can not be legally converted into real currency. There is only theoretical value if you reverse calculate the price of a PLEX against its value in ISK. My YouTube Channel - EVE Tutorials & other game related things! |
Dinsdale Pirannha
Pirannha Corp
2467
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Posted - 2014.03.25 23:09:00 -
[7] - Quote
Lucas Kell wrote:They are talking about bitcoins and the like. ISK isn't a convertible currency. It's a number that CCP hold on your account, which they own the rights to entirely.
LOL...I am sure there are an number of null sec cartel leaders who might be consulting tax lawyers if that document is accurate and legit. Most people viewed Orwell's writings as a warning. The harper regime and the goons treat them as a guidebook. |
Forum Clone 77777
Do You Even Irony Broew
207
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Posted - 2014.03.25 23:11:00 -
[8] - Quote
Yet another thread where the OP has litterally no clue. |
Steve Ronuken
Fuzzwork Enterprises Vote Steve Ronuken for CSM
2950
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Posted - 2014.03.25 23:13:00 -
[9] - Quote
ISK doesn't belong to you.
Thus, it's not a currency. At no time can you actually own it. Steve Ronuken for CSM 9! https://forums.eveonline.com/default.aspx?g=posts&m=4236322 http://www.fuzzwork.co.uk/ Twitter: @fuzzysteve on Twitter |
Doireen Kaundur
383
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Posted - 2014.03.25 23:25:00 -
[10] - Quote
OP: not everyone here is american.
IRS=Internal Revenue Service (aka american tax collector) Minimizing the cost of replacing implants.
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Inquisitor Kitchner
Galaxy Punks Executive Outcomes
1062
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Posted - 2014.03.26 00:28:00 -
[11] - Quote
As many people here have pointed out ISK isn't a convertible currency or even a currency full stop. "If an injury has to be done to a man it should be so severe that his vengeance need not be feared." - Niccolo Machiavelli |
SmilingVagrant
GoonWaffe Goonswarm Federation
2511
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Posted - 2014.03.26 00:32:00 -
[12] - Quote
Well I was going to post what everyone else is saying then say you may be a bit of an idiot.
I'll just stick to the second half.
You may be a bit of an idiot. |
Klymer
Hedion University Amarr Empire
513
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Posted - 2014.03.26 00:57:00 -
[13] - Quote
Hmm...perhaps there could be a positive side effect of this.
CCP catches someone in the U.S. engaging in RMT. They ban them from the game and then forward the offenders information to the IRS for investigation and possible prosecution for tax evasion.
How sweet would it be some some of these ******* ISK sellers to wind up in federal prison? |
Nariya Kentaya
Phoenix funds
1143
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Posted - 2014.03.26 01:03:00 -
[14] - Quote
Jack Tronic wrote:Per IRS rulings, all virtual currencies are now taxable as properties. http://consumermediallc.files.wordpress.com/2014/03/n-14-21.pdf"Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as GÇ£convertibleGÇ¥ virtual currency" Better start pumping the ISK into offshore accounts. game is hosted in UK by an icelandic company, they cant tax ****.
also, ISK isnt owned by any player, its owned by CCP, so if they want to try and tax someone for my use of an ingame currency theyd have to tax CCP |
Caviar Liberta
Moira. Villore Accords
493
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Posted - 2014.03.26 01:15:00 -
[15] - Quote
Jack Tronic wrote:Per IRS rulings, all virtual currencies are now taxable as properties. http://consumermediallc.files.wordpress.com/2014/03/n-14-21.pdf"Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as GÇ£convertibleGÇ¥ virtual currency" Better start pumping the ISK into offshore accounts.
If isk is taxable then I want to use all my ship losses as tax deductions then. |
Mario Putzo
Welping and Dunking.
460
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Posted - 2014.03.26 01:17:00 -
[16] - Quote
Im writing off all kinds of expenses then. I knew those skill book receipts would come in handy Hellooooo student tax credits! |
Scipio Artelius
The Vendunari End of Life
811
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Posted - 2014.03.26 01:20:00 -
[17] - Quote
The forum is in crazy mode right now.
Not just on Ero, but on everything.
eve-bazaar - Discount prices on ships and PLEX. Real savings to drive your ISK further. |
Muestereate
Minions LLC
214
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Posted - 2014.03.26 01:40:00 -
[18] - Quote
Klymer wrote:Hmm...perhaps there could be a positive side effect of this.
CCP catches someone in the U.S. engaging in RMT. They ban them from the game and then forward the offenders information to the IRS for investigation and possible prosecution for tax evasion.
How sweet would it be some some of these ******* ISK sellers to wind up in federal prison?
Like Al Capone. They couldn't make his real crimes stick because of multiple identities, corporate shelters and shady books but one errant note that was out of the statute of limitations but not objected to. |
Regnag Leppod
Science and Trade Institute Caldari State
16
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Posted - 2014.03.26 02:01:00 -
[19] - Quote
Lucas Kell wrote:They are talking about bitcoins and the like. ISK isn't a convertible currency. It's a number that CCP hold on your account, which they own the rights to entirely.
The IRS will just see that Isk can be "converted" to PLEX or Aurum. They don't care who owns it, they just tax it.
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ACE McFACE
The Scope Gallente Federation
1777
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Posted - 2014.03.26 02:04:00 -
[20] - Quote
Mr Epeen wrote:Another reason I'm happy to be anything but a U.S. citizen. Mr Epeen
You should be notified if someone quotes your post so you can continue the argument! |
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Gogela
Freeport Exploration Loosely Affiliated Pirates Alliance
3120
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Posted - 2014.03.26 02:06:00 -
[21] - Quote
ISK doesn't qualify as a virtual currency.
/thread
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Jack Tronic
borkedLabs
155
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Posted - 2014.03.26 02:19:00 -
[22] - Quote
Gogela wrote:ISK doesn't qualify as a virtual currency.
/thread
ISK can be RMTed to and from dollars whether CCP wants to or not. |
James Amril-Kesh
4S Corporation Goonswarm Federation
9232
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Posted - 2014.03.26 02:25:00 -
[23] - Quote
You could sell bottles of **** for money. That doesn't make them currency. "Pretty much all 14 of the CSM were in favor of a drone assign nerf for OBVIOUS gameplay reasons" - Sala Cameron
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Gogela
Freeport Exploration Loosely Affiliated Pirates Alliance
3120
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Posted - 2014.03.26 02:45:00 -
[24] - Quote
Jack Tronic wrote:Gogela wrote:ISK doesn't qualify as a virtual currency.
/thread ISK can be RMTed to and from dollars whether CCP wants to or not. Yes, and that's already taxable. It's filed under "misc. income". Not kidding. Did you know that profits from dealing drugs illegally are also taxable? What I'm saying is that ISK doesn't qualify as a virtual currency under the law, not that it can't be RMT'd. It's not a parallel currency like bitcoin, litecoin, or Peercoin. In fact, as I understand it, the IRS is taxing bitcoin as a commodity and NOT a currency. As ISK is not readily convertible to anything real and as ALL ISK is owned exclusively by CCP, ISK can't even be taxed as a commodity. ...if it could be, Iceland would be the only one that could tax it, as CCP is the owner of all of it and they are an Icelandic company.
Sorry to inject so much logic and truth into this complicated discussion. Please continue...
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Enraku Reynolt
Peripheral Patrol Shadow's Edge Alliance
18
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Posted - 2014.03.26 02:48:00 -
[25] - Quote
lets assume that somehow isk could be taxed that would mean I could probly write off my ammo, possibly travel, and other crap as expenses, trust me, if they tries to tax isk, someone would try to get the deductions, and Id want to know if those legal procedings are open to the public, and can I bring snacks |
Brock Nelson
663
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Posted - 2014.03.26 02:49:00 -
[26] - Quote
Jack Tronic wrote:Better start pumping the ISK into offshore accounts.
It is already offshore, its in London Signature removed, CCP Phantom |
Kaarous Aldurald
ROC Deep Space The ROC
3554
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Posted - 2014.03.26 02:52:00 -
[27] - Quote
Gogela wrote:Jack Tronic wrote:Gogela wrote:ISK doesn't qualify as a virtual currency.
/thread ISK can be RMTed to and from dollars whether CCP wants to or not. Yes, and that's already taxable. It's filed under "misc. income". Not kidding. Did you know that profits from dealing drugs illegally are also taxable? What I'm saying is that ISK doesn't qualify as a virtual currency under the law, not that it can't be RMT'd. It's not a parallel currency like bitcoin, litecoin, or Peercoin. In fact, as I understand it, the IRS is taxing bitcoin as a commodity and NOT a currency. As ISK is not readily convertible to anything real and as ALL ISK is owned exclusively by CCP, ISK can't even be taxed as a commodity. ...if it could be, Iceland would be the only one that could tax it, as CCP is the owner of all of it and they are an Icelandic company. Sorry to inject so much logic and truth into this complicated discussion. Please continue...
But, the whole point of drugs and pimping is to NOT have taxable income... damn you, government! Not posting on my main, and loving it.-á Because free speech.-á
Psychotic Monk for CSM9.
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Silent Rambo
Legion of Seven
127
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Posted - 2014.03.26 02:59:00 -
[28] - Quote
Mr Epeen wrote:Another reason I'm happy to be anything but a U.S. citizen. Mr Epeen
Mr Epeen wrote:Mr Epeen
Grandma? Is that you signing every single post that already has your name attached to the actual post?
You really think someone would do that? Just log into EvE and tell lies? |
Dominic karin
Trojan Legion Fidelas Constans
33
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Posted - 2014.03.26 04:47:00 -
[29] - Quote
Isk can not be legally 'Converted' to USD and therefor is not a 'Convertible' currency and THEREFOR is not taxable.
/Thread. |
Hasikan Miallok
Republic University Minmatar Republic
506
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Posted - 2014.03.26 05:15:00 -
[30] - Quote
Regardlessof what GD forum lawyers and CCP themselves have to say on the matter:
ISK will be a virtual currency of not a virtual currency SOLELY on the basis of what real world legislators and real world courts decide.
If a statute or case law eventually makes it a virtual currency in a particular jurisdiction it becomes one. Otherwise it is not one. No amount of internet lawyering on forums or fancy EULA conditions by CCP will change that.
Sidenote: Worldwide there is an increasing tendency for courts to deem internet intangibles as "choses in action" that can be stolen or are taxable. There are interesting times ahead and there is no way of predicting exactly how this will eventually panout. |
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