American Tax Officer Chapter 598

Chapter 598: Chapter 301: A Total of 58.8 Billion Credited_2

It's like a person not knowing how much money they have in their own pocket and having to be reminded by someone else, so this defense is simply untenable.

But he couldn't accept just forking over an additional 3 billion either, and immediately retorted, “Director David, more than 15 billion is already not a small number, let's just call it enough. Otherwise, I won't be able to explain to those consortiums backing us, I hope you can understand…”

“That's your problem, not the IRS's!”

Seeing how resolute Director David was, Vikram was stunned, and the atmosphere at the scene suddenly became tense.

“You from Ethereum should have acted earlier. If you had come forward and addressed your tax issues honestly like Binance when I named you, you wouldn't have to pay extra penalties. So, this subsequent loss is your own responsibility!”

“But Director David…”

“No buts!”

Before he could finish speaking, Director David interrupted him with an icy tone, “I have already issued a bill for 18.16 billion in taxes and penalties, and that's 18.16 billion. Not a penny less. If Ethereum doesn't want to pay, we won't force you. We'll just see you in court then!”

Realizing the matter had escalated to court, Vikram's expression turned to one of anger, defiance, and eventually, resignation as he stood up and walked out.

About ten minutes later, he entered again and said, “Alright, as you said, we will pay the 18.16 billion. Let's leave the matter at that.”

“Very well…”

Los Angeles IRS office entrance.

After anxiously waiting for over half an hour, the reporters finally saw Vikram coming out and immediately approached him with microphones, bombarding him with questions.

But Vikram, having taken a huge hit and bleeding considerably, had no mood to entertain interviews and left directly in his car, leaving behind the somewhat baffled media.

They didn't have too long to ponder when Nisen emerged from the IRS, instantly bringing everyone back to their senses as they swarmed around him.

“Tax Investigator Nisen, can you tell us how the negotiations went between the Los Angeles IRS and Ethereum?”

Nisen pressed his hands downward and said, “Our discussions with Ethereum went very well. They admitted they indeed had tax issues. In addition to paying the back taxes of 15.16 billion US Dollars, they also 'voluntarily' paid us an additional 3 billion in penalties. On behalf of the IRS, I would like to thank Ethereum Company for their tax contribution!”

“Oh my gosh, 15.16 billion in taxes plus a 3 billion tax penalty? Did Ethereum really have that much in tax omissions?”

“With Ethereum being the second-highest valued cryptocurrency globally, a tax bill of 15.16 billion isn't surprising. What I'm more concerned about is the 3 billion tax penalty. That's probably a punishment for their previous ostrich-like behavior!”

“Haha, Binance is probably laughing now. Good thing they paid up honestly after being named. If they had dragged it out like Ethereum, they would certainly have been penalized too.”

“Now companies like USDT must be quaking in their boots upon hearing this news!”

Following Nisen's announcement, netizens on social media erupted into a frenzy.

And just as the netizens had mentioned, the higher-ups at Binance, led by Changpeng Zhao and Lin Huaiwei, were indeed happy about Ethereum facing an extra 3 billion in penalties and felt relieved about the decision they had made previously.

Of course, when some rejoice, others worry.

Seeing Ethereum slapped with an extra 3 billion penalty, the yet-to-arrive companies like USDT felt their hearts sink, but to avoid more penalties, they dared not delay any longer and rushed toward Los Angeles as fast as they could.

In the following two days, the Los Angeles IRS set aside all other matters and focused solely on resolving the issues of the remaining cryptocurrency companies.

By the third day, the tax affairs of nearly all the cryptocurrency companies had been settled.

Kepel entered David's office with all the processed documents in hand and said, “Director David, here is the completed tax processing report for all the cryptocurrency companies, please take a look.”

David carefully reviewed the documents and, after ensuring there were no issues, instructed, “Hold a media conference in one hour.”

So far, the tax audit of the entire cryptocurrency sector had been a resounding success; therefore, the purpose of the media conference was not just to report to the public, but also to showcase his achievements as a stepping stone to joining the main bureau.

An hour later, all the media had arrived in the main lobby on the first floor.

Flanked by the senior officials of the bureau, David took to the spotlight and began, “Good afternoon to the friends from the media, and to the viewers watching at home. Today, we've called this press conference to update everyone on the tax audit situation in the field of cryptocurrency.”

Upon hearing these words, both the media on site and the audience online were instantly intrigued.

Apart from large companies like Ethereum and USDT, the tax amounts for the smaller cryptocurrency companies had not been disclosed in the past two days, leaving many unaware of the total funds the IRS had collected, only making rough estimates.

But fortunately, they would finally learn the exact amount.

“Alright, no more suspense, in the tax audit of the cryptocurrency sector, the total taxes collected amount to 58.83 billion US Dollars. That is the specific figure. Thank you all for your continuous attention to our work. We will continue to strive for excellence!”

The revenue from Satoshi Nakamoto's holdings had already exceeded 20 billion, while Ethereum accounted for 18.1 billion, and USDT 12 billion. Added to the assortment of smaller cryptocurrency companies, this amounted to the 58.8 billion figure.

“Oh my God, 58.8 billion? That's much more than what was collected from the tax audit of Hollywood!”

“It's quite normal. Since its inception, cryptocurrency has been used by many criminals for laundering money, drug trafficking, and other purposes, plus the national tax laws concerning it have always been quite vague, hence this huge tax collection is to be expected.”

“It's about what many of us had speculated, the overall taxation in the cryptocurrency sector is around 500 to 600 billion. Unfortunately, this money is going to benefit others…”

“Alas, it's such a shame. The money that Director David has so painstakingly collected is ultimately going to the assistance bill for those damn Ukranians. Wouldn't it have been great if it had been used for our own country!”

At first, many expressed amazement at the sheer amount of money involved, but their spirits plummeted when they realized the funds would soon be funneled into the W assistance bill.

On the other hand, the happiest about this sum were undoubtedly the Ansa Group and others who controlled the military-industrial complex.

They had long coveted the IRS's funds, and now, not only had they collected the full amount, but the figure had also exceeded the 100 billion basis by over 30 billion – an unexpectedly pleasant surprise.

In order to gain access to these additional billions in profit, many within the Ansa Group had already started planning the supplemental funding clauses following the passage of the W assistance bill.

Of course, aside from the Ansa Group, other interest groups in the medical, educational, and energy sectors were also eyeing these funds.

The preliminary budget for the W assistance bill was set at 100 billion, but now the Los Angeles IRS had clearly exceeded that by an additional 30 billion.

This money couldn't all go to the military-industrial complex, could it?

We also need a taste of the benefits, don't we?

In their quest for a share of the extra 30 billion, numerous powers began to show off their skills, and America unknowingly slipped into a state of undercurrents stirring beneath the surface.

Chapter end

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