American tax officials

Chapter 303: A total of 588 billion was earned.

Viklin seemed unwilling to accept this outcome. He looked around at everyone and asked, "Is there a better way?"

The Ethereum executives present stared at each other blankly, but ultimately no one uttered a single word.

Seeing this, Viklin could only sigh helplessly and say, "Let's inform those 'bosses'!"

Ethereum has more than 20 financial groups behind it, including Morgan Stanley, CME Group, BNY Mellon, Thomson Reuters, Microsoft, Intel, and Accenture.

After the IRS named them, they immediately sought help from these corporations.

However, since they were dealing with the IRS, and given the influence exerted by the Onsa Group in order to obtain funding from the W Act, these conglomerates dared not get involved rashly and thus returned the decision-making power to themselves.

Now that they have nowhere else to go, they can only inform these conglomerates and then surrender.

While things were in chaos on the Ethereum front, cryptocurrency companies like USDT were also in a similar predicament, as they too received documents from the Los Angeles IRS detailing their respective tax violations.

After some discussion, USDT and other cryptocurrency companies also had no better options and began preparing to pay their taxes to the IRS in Los Angeles.

2 PM, Los Angeles IRS.

Although a day has passed since the IRS and Navy issued denials about the aircraft carrier incident, the matter remains a hot topic, with a large number of media outlets still stationed there, hoping to get more information.

Just then, the arrival of two BMW 7 Series cars immediately attracted the attention of the media.

When Viktor stepped out of the car, an uproar erupted both at the scene and online.

"That's Viktor Axelsen, the CEO of Ethereum!"

"Ever since David made his name known, Ethereum has been playing the ostrich, but it looks like it can't keep up the act anymore."

"On the surface, the Los Angeles IRS hasn't taken any major actions lately, and Ethereum seems to be doing the same thing, but I think something must be going on behind the scenes!"

"..."

As many have noted, ever since David publicly named various companies after revealing the arrival of Satoshi Nakamoto's funds, the Los Angeles IRS and companies like Ethereum have been in a delicate state of mutual non-interference.

But now, with Viklin's arrival, everyone suddenly realized that the so-called non-interference was only on the surface, and that underhanded things might have been turbulent.

Otherwise, Ethereum would not have suddenly appeared at the Los Angeles IRS without any warning.

Upon entering the Los Angeles IRS building, Viklin was quickly led into David's office. He forced a smile and extended his right hand, saying, "Director David, it's a pleasure to meet you."

"Mr. Viklin, it's a pleasure to have you here."

David, fully aware of the situation, replied with a question, then changed the subject, saying, "Oh, by the way, Mr. Viklin, did you receive the documents the IRS sent you?"

Viklin's expression changed slightly, but he quickly replied nonchalantly, "Received. Our company did indeed have a major oversight regarding the tax issues. I have already ordered the tax authorities to investigate the relevant personnel. As for the taxes that need to be paid..."

"A total of 181.6 billion, thank you."

Upon hearing the figure presented by David, Viklin, who had already mentally prepared himself for a huge financial blow, was stunned. It took him a long time to recover, and he asked, his face flushed, "Director David, according to your statistics, even if we add up all the taxes, it's only 151.6 billion. How could there suddenly be an extra 30 billion?"

David took a booklet from the shelf next to him, turned to page 56, and pointed to one of the articles, saying, "Look carefully, Mr. Viklin. According to tax law, the IRS has the right to impose certain penalties on companies that refuse to cooperate. The penalty amount is calculated as a percentage of the amount payable. Your tax collection is based on capital gains tax, which should be $3.006 billion more. However, seeing that you have admitted your mistake, I'll waive the difference for you."

After hearing what he said, Viklin almost couldn't help but vomit blood.

Since you say I know I'm wrong and can correct my mistakes, why impose an additional 30 billion on me?

And this is after rounding down the amount to a smaller amount?

It took Viklin quite a while to recover. Paying such a large sum of taxes was already painful enough, but if he were to be overcharged by another 30 billion, he would have no way to explain it to the major corporations. He could only argue, "Director David, Ethereum did not say it would not cooperate with the IRS. After you named us, we ordered the tax authorities to investigate, but that takes time."

"Does it take time?"

David looked at him with a wise gaze and said, "Mr. Viklin, given the size of your company, wouldn't it take you so many days to investigate your own taxes? Besides, even an outsider like us from the IRS was able to investigate your situation so thoroughly in just a few days. You can't possibly be slower than us, can you?"

"this……"

Viklin choked.

Yes, even an outsider like the IRS can investigate their company's situation thoroughly, while they themselves are a step behind.

This is like someone not knowing how much money they have in their pocket and needing someone else to remind them, so this argument is completely untenable.

But he couldn't accept handing over an extra 30 billion, so he immediately argued, "Director David, 150 billion is no small sum. That's about enough. Otherwise, I won't be able to explain it to the conglomerates that invested in us. I hope you can understand..."

"That's your problem, it's none of our IRS's business!"

Seeing David's ruthlessness, Viklin stood there stunned, and the atmosphere suddenly turned somber.

"Where were you Ethereum all this time? If you had honestly settled your tax issues like Binance when I called you out, you wouldn't have had to pay these extra fines. So, the responsibility for these subsequent losses lies with yourselves!"

"But Chief David..."

"No buts!"

Before he could finish speaking, David interrupted him abruptly, saying in an icy tone, "I've already issued a tax and fine bill of 181.6 billion, that's 181.6 billion, not a penny less. If Ethereum doesn't want to pay, we won't force you. We'll see you in court!"

Seeing that the matter had escalated to the courtroom, Viklin's expression showed anger and resentment, but in the end, it turned into helplessness. He stood up and walked out.

About ten minutes later, he came in again and said, "Okay, as you said, we will pay 181.6 billion, and that will be the end of this matter."

"very good……"

The entrance to the Los Angeles IRS office.

After waiting anxiously for more than half an hour, Viklin finally came out, and a group of reporters immediately grabbed their microphones and went up to ask him questions.

But Viklin, who had suffered a huge loss and was in no mood for interviews, got into his car and left, leaving the media still bewildered.

But before they could think for long, Nissen, who walked out of the station, instantly brought everyone back to their senses, and they immediately surrounded him.

"Nissen Tax Inspector, how are the negotiations between your Los Angeles IRS and Ethereum going?"

Nissen pressed his hands down and said, "Our talks with Ethereum went very well. They admitted that they did have tax issues. In addition to paying the $151.6 billion back payment, they also 'voluntarily' paid us an extra $30 billion in penalties. On behalf of the IRS, I would like to express my gratitude to Ethereum for their tax contributions!"

"Oh my god, 151.6 billion in taxes plus 30 billion in tax penalties? Does Ethereum really have that many tax omissions?!"

"It's not surprising that Ethereum, as the world's second-largest cryptocurrency by value, needs to pay 151.6 billion in taxes. What I'm more concerned about is the 30 billion in tax penalties; this is probably punishment for their previous ostrich-like behavior!"

"Haha, Binance is probably laughing to themselves right now. Luckily, they paid up after being called out. If they had dragged it out like Ethereum has, they would definitely have been punished too."

"Now, companies like USDT are probably trembling with fear after hearing this news!"

Upon hearing Nissen's report, netizens on various social media platforms instantly went wild.

As netizens have pointed out, Binance executives, led by Zhao Changpeng and Lin Huaide, were indeed pleased to hear that Ethereum had been fined an additional 30 billion, and felt fortunate for their previous decision.

Of course, while some are happy, others are sad.

After seeing that Ethereum was fined an additional 30 billion, the companies that had not yet arrived, such as USDT, were disheartened. However, in order to avoid further penalties, they dared not delay any longer and rushed to Los Angeles as quickly as possible.

Over the next two days, the Los Angeles IRS set aside other matters and focused all its efforts on dealing with the remaining issues concerning cryptocurrency companies.

By the third day, the tax situation of almost all cryptocurrency companies had been resolved.

Kepper walked into David's office with all the processed documents and said, "Director David, this is the report on the completion of tax processing for all cryptocurrency companies. Please take a look."

David picked it up and examined it carefully. After confirming that there were no problems, he instructed, "Hold a press conference in one hour."

So far, the tax audit of the entire cryptocurrency field has been a complete success. Therefore, holding a press conference is not only to report to the public, but also to demonstrate its achievements to all sectors and to pave the way for its entry into the State Administration for Market Regulation.

An hour later, all the media arrived at the lobby on the first floor.

David, surrounded by a group of high-ranking officials from the bureau, stepped into the spotlight and said, "Hello everyone, friends from the media and viewers. The purpose of this press conference is to inform you about the tax investigation in the cryptocurrency field."

Upon hearing this, the media at the scene and the public online immediately became interested.

Aside from large companies like Ethereum and USDT, the tax amounts of smaller cryptocurrency companies have not been reported in the past two days. Therefore, many people do not know exactly how much money the IRS has collected in this tax audit, and can only make a rough estimate.

Fortunately, they can finally know the exact amount.

"Alright, enough with the suspense. Regarding the tax audit of the cryptocurrency sector, the Los Angeles IRS collected a total of $588.3 billion in taxes. That's the exact figure. Thank you all for your continued support; we'll continue our efforts!"

Satoshi Nakamoto's earnings already exceeded 200 billion, Ethereum's were 181 billion, and USDT's were 120 billion. Adding in the earnings from other cryptocurrency companies, the total came to 588 billion.

"My God, it's 588 billion! That's way more than the tax value found in Hollywood tax audits!"

"It's normal. Since its inception, cryptocurrency has been used by many criminals for money laundering, drug money and other purposes. In addition, the country's tax laws on it have always been very vague. So it is normal to receive such a huge amount of tax now."

"As many of us have predicted, the total tax revenue for the cryptocurrency sector is around 500-600 billion, but unfortunately, this money will benefit others..."

"What a pity! Director David finally received this money, but it ended up being used to help those damn Ukrainians under the Aid Act. It would have been so much better if it had been used for our own country!"

When they first heard about the huge sum of money, many people were moved, but when they realized that the money was about to be used for the aid bill, their mood instantly plummeted.

Meanwhile, the happiest people upon hearing about this amount were none other than the Onsa Group, which controls the military-industrial complex.

They had been eyeing this sum of money from the IRS for a long time, and now not only had they collected it, but they had even exceeded it by more than 1000 billion on top of the original 300 billion. This was truly an unexpected surprise.

In order to obtain these additional tens of billions of dollars in profits, many people in the Onsa Group have even begun to plan for additional funding provisions after the passage of the W aid bill.

Of course, in addition to Onsa Group, interest groups in the medical, education, and energy sectors also had their own ideas.

The initial budget for the aid bill was set at $1000 billion, but now the Los Angeles IRS has clearly exceeded its budget by more than $300 billion.

This money can't all be eaten up by your military-industrial complex, can it?

We need to have some soup too!

In order to obtain this extra 300 billion, many forces began to use all sorts of tricks and schemes, and unknowingly, China and the United States were caught in a state of undercurrents.

(End of this chapter)