Growing Concerns | New IRS Rule Sparks Alarm Over Crypto Withdrawal Taxes
Edited By
Elena Ivanova
A friend’s experience with a crypto trader has raised eyebrows and sparked heated debates on user boards. He hired a copy trader and was told to use Atomic Wallet, only to discover he must pay taxes upfront before withdrawing profits. This has many questioning the legitimacy of such requests, especially after claims of a new IRS regulation.
What Happened?
According to sources, the individual made a significant profit but was unable to access his funds, citing the need to cover taxes first.
Skepticism Surrounds the Process
Many have expressed disbelief about such practices. A well-known comment states, "This is called a pig butchering scam" suggesting that this situation resembles a manipulation tactic often seen in scams.
Industry Experts Weigh In
Commenters on user boards have highlighted concerns over these advanced fee scams. One user emphasized, "You pay taxes at year’s end, not to a scammer." This sentiment underscores the growing frustration within the community.
Warning Signs Everywhere
The general consensus warns that if any payment occurred, it likely went straight to the scammers. This raises an important question: How many more people are unaware of these scams and the supposed tax obligation? According to one comment, "His money is already gone—don't let him pay anything."
“You can pay the IRS at any time via their system,” a user mentioned, emphasizing that people should be cautious about where they send money.
Key Takeaways
🚩 Many view this as a classic scam tactic aimed at forcing upfront payments.
⚠️ Tax obligations only arise when filing, not for immediate withdrawals.
💡 Community vigilance is crucial in identifying such fraudulent strategies.
The unfolding story highlights the need for individuals to remain educated and skeptical of quick profit promises in the crypto world. As the IRS continues to adapt regulations, the potential for scams only increases, leaving many people vulnerable.