After Not Filing Taxes for 8 Years, John McAfee Claims IRS After Him For Cryptocurrencies

After Not Filing Taxes for 8 Years, John McAfee Claims IRS After Him For Cryptocurrencies 1

Earlier this month, John McAfee indicated online that he had not filed taxes for eight years and all but dared the IRS to come after him. Now, he says that he is on the run. He claims to be working and living on his yacht because the IRS is after him for his use of Cryptocurrencies.

John McAfee is a divisive figure, even in the cryptocurrency community where he enjoys more support than elsewhere. He first made his name by developing anti-virus software in the late 1980s and early 1990s. McAfee sold his stake in 1991, disappeared from public view for a while and then reemerged after becoming a person of interest in a murder in Belize.

He was eventually arrested in Guatemala and sent back to the United States and that is when the crazy started to happen.

John McAfee called taxes illegal, posted pictures of himself with automatic weapons and scantily clad women and posted often about using drugs. That’s pretty weird for a millionaire, but not out of realm of stuff you’d expect to see on social media.

But he also ran an insurgent campaign for President and created his own political party. He has, at times, advocated for consensual sex with whales. A Showtime documentary accused him of rape, murder and some more disgusting things. Oh, and he started his own privacy-focused cryptocurrency called Apollo. (Though he also claimed that he never transacted in any privacy coins.)

In general, he just says crazy shit. And he does crazy shit. And so it should be no surprise that some people love him for that, and others hate him.

But today, he says he is running his 2020 campaign “in exile” because the IRS is coming after him for using cryptocurrencies. How much this has to do with his claim of not filing taxes for eight years, is unclear. He did indicate the reason he didn’t pay taxes, other than them being illegal in his mind, is that he hasn’t made any money.

Rather, he insists that he is living off of the money he made when he sold his stake in the McAfee software company. However, he has alluded to new business ventures. Presumably, those lost money if, as McAfee claims, he hasn’t brought in any money during those eight years.

Ultimately, anyone bringing in any kind of income (not profit) is required to file taxes, even if they aren’t going to have to pay taxes because they didn’t net a profit.

McAfee seems to be in the middle of a strange saga that is only going to get stranger.

We have reached out to the McAfee team for comment but have not heard back at press time.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin21,478 0.39 % 7.76 % 10.32 %
Ethereum1,708.7 0.85 % 8.48 % 9.18 %
Tether1.002 0.05 % 0.12 % 0.20 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB286.28 0.38 % 5.39 % 11.55 %
Binance USD1.001 0.02 % 0.28 % 0.11 %
XRP0.3405 0.42 % 9.54 % 10.64 %
Cardano0.4691 0.86 % 11.30 % 11.77 %
Solana42.12 0.56 % 2.22 % 3.81 %
Dogecoin0.07019 1.07 % 10.08 % 1.13 %

Bitcoin (BTC) $ 21,526.00
Ethereum (ETH) $ 1,719.19
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 286.06
Binance USD (BUSD) $ 1.00
XRP (XRP) $ 0.341561
Cardano (ADA) $ 0.471156
Solana (SOL) $ 37.45
Dogecoin (DOGE) $ 0.070599