Originally Posted by
Andy2
Other than the Statute of Limitations issue, I don’t see why the volume of transactions matters. If $300,000 of profit is taxable, $3,000 of profit would be taxable just the same.
I think that even the IRS will not waste the time to go after the 4 digit or even the 5 digit MSer.
However, when you start talking 6 and 7 digits of MSing, then you are starting to talk significant money, especially if you add on fees and penalties.
Again, I reiterate, whales should be concerned about getting an IRS letter.