Are you holding 100M gil? The IRS will tax you for it, soon ...

S

Sculli

Guest
Are virtual assets taxable?

Some Dude said:
After all, since the trafficking of virtual goods from games like "World of Warcraft," "City of Heroes" and "Star Wars Galaxies" on exchanges like eBay sets their fair market value, the millions of online game players are collectively holding tens or even hundreds of millions of dollars' worth of these digital assets at any one time. And some would say that's a target the IRS can't ignore forever, raising the tricky question of whether virtual goods that are frequently bartered and exchanged in the gaming world can be deemed a taxable possession before they are sold for real-world money.
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maybe that'll fix the economy :roll:

On a side note .. not cool. First this then people start bitching about the rights of mobs.
 
Trippyhippy said:
Can't tax somethin if it's illegal to sell it.
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If you sell illegal drugs, they still get you for tax evasion. Though that is a bit different, as you have already income, not just potential income. So if you are a gil-seller, then you better report your sales as income, or else!
 
They didn't even try to get me for tax evasion.

Hell, they found just under 10 lbs of green and got me with Simple possesion.

They also took $6000 from me that "Disappeared" somehow on the way to the evidence locker where my computer still sits.

Checks and balances my ass.
 
Legally, they can tax each and every transaction that occurs, since virtual currency has a value in terms of real currency.

From my understanding, due to barter law, since gil has an "inherent value", if I buy a SH in-game (whether from AH, bazaar, or trade) that transaction is taxable by the US gov't.

Of course, the reality is, it's impossible for the IRS to track in-game transactions without a sizable infrastructure that would either cripple the MMORPG industry or potentially cost the gov't more dollars than revenue it would generate.

IRS, welcome to the beauty of micro-payments.
 
regardless of ownership if it's being traded for real cash it has monetary value and at least the RMT transactions can be taxed.

If the IRS wanted to be real dicks about it they could hit SE with the tax on the entire ammount per server, which would then be passed to the consumer.
 
Why don't you just tax my fucking monopoly money? It's all ridiculous. It's just data and it's all squaresoft's. Note that when you quit FF you don't take your gil with you. It's forever bound to the server and the server is squaresoft's property.
 
i agree wholeheartedly .. but they tax you for dropping dead in a pile of your own shit around here, if you haden't noticed. It's not like they give a shit to consider taxing video game currency.

Will they? prolly not. someone already pointed out it'd be nearly impossible or would cost more money than it would generate. But it sure does make for nice convo fodder.
 
Tax the exchange for real money. Cause honestly, you could have all the virtual money in the world, but it won't be able to put food on your table.
 
Exchange is fine, cause you have to recognize what it is. It's not an item, it's really a service. You're paying some chinese midgets to play the game for you.

Just holding the gil however.. you can't tax that. It's not real money. If I took the net of the shit I own, converted it to USD based on gil prices and tried to tax it... I'd have to get a god damn job just to pay it!
 
lol if they put tax on data gill etc then u need to A) make the internet a nation and make laws, what u cant as it is a free place of specch etc
B) some countries/islands dont have TAX like where i live only tax we got is road and COL but no tax on anything u buy etc
 
Firestreak said:
I guess Hillary Clinton really wants a Scorpion Harness.
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hilaryharneslol7hx.jpg


Yes its a hack job. I was inspired.
 
So gilbuyers are probably gonna get a bigger refund while the honest people pick up the slack....

I love this country!!!
 
Mistaya, greatest thing I've seen in a long time lol
 
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