Music Weiss & Associates presents the basics of moving crypto currencies this is a tandem video to go along with another video entitled how crypto currencies complement the revocation of election process please watch that one first a link to that video is provided in the show notes below so are you ready to move forward by first funding your crypto currency account and moving money around to different accounts let us help while we encourage the use of Bitcoin aetherium and litecoin will use bitcoin in this video as an example aetherium and litecoin will work basically the same way but for clarity we'll begin with BTC also will assume that you live in the United States as the vast majority of our clients do so you'll need to select an exchange that deals with us clients will use coinbase as it's the most popular there are others like Exodus and Gemini you can decide for yourself first the basics the coin base website is www.pevs.com open up an account at coin base and utilize the two-factor authentication process for added security if it asks you for it this usually involves coinbase sending you a text message code or Authenticator to make sure it is used signing in it's just an added measure of security which is good for you coin base is a private business that helps you transfer your fiat currency into crypto currencies it is only this stage that requires your name once you hold kryptos and move money around within the crypto space it's done anonymously second funding you can fund your coin base account from my US bank or PayPal account these accounts can be added by going to settings and linked accounts in the coin based platform click the link a new account...
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Revocation of election 6013 Form: What You Should Know
Incorporating IRC § 6013(g) The IRS can revoke an election if the circumstances beyond the taxpayer's control change and the taxpayer does not make the change within the next 5 years or if the taxpayer is delinquent in filing or furnishing the return. If the revocation is for nonpayment of tax or penalties imposed under the Internal Revenue Code and for noncompliance with tax treaties, then no tax liability may be imposed because of the revocation. If there is a reasonable likelihood that the revocation might be misused or abused, then the revocation must be made on an individual basis, with the opportunity for a review proceeding before a commissioner, or both. In such cases the commissioner may have authority to levy and impose a penalty, or may request the IRS to revoke the revocation. A revocation of an election made by a married couple does not affect the ability of either spouse to take a tax deduction based on contributions described in § 401(a) of the Internal Revenue Code because a revocation of the election affects only that portion of the individual's taxable income that is attributable to contributions by one spouse to the benefit of the other spouse. Under IRC § 6018, the IRS may require an individual taxpayer at any time who is a former U.S. resident alien of any age to file a Form 6251 for the year. If either spouse (or any nonresident alien of record at the time of the filing) fails to file, or if both spouses (or either spouse) are nonresident alien nonimmigrants at any time during any calendar year during the 6-year period of revocation of a former resident alien's election under IRC § 6013(g), then the election is revoked. The revocation applies only to that portion of the individual's taxable income attributable to contributions by one spouse to the benefit of the other.
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