On August 31, D.C. Attorney General Karl A. Racine stated his workplace is taking authorized motion in opposition to Michael Saylor and MicroStrategy for tax fraud and seeks to recuperate over $100 million in unpaid taxes and penalties.
Since then, Saylor has launched a press release claiming he resides in Miami Beach, Florida, and has no tax legal responsibility to the District.
D.C. AG gunning for Saylor over Bitcoin tax evasion
Twitter account @tier10k posted a highlighted snippet of documentation pertaining to the DC AG’s motion in opposition to Michael Saylor and MicroStrategy. It learn:
“Moreover, Saylor bragged in a January 21, 2021 interview that Bitcoin is a perfect software for evading taxes, suggesting that house owners of Bitcoin may inform their authorities to ‘go f—k yourself’ and declare to have misplaced their Bitcoin entry key, daring the federal government to ‘tax that!’”
The civil complaint filed against the defendants did not include this text. CryptoSlate reached out to @tier10k to determine the source but did not receive a response as of press time.
Nonetheless, in support of @tier10k’s publish, @txorigin tweeted a clip of Saylor talking about transferring Bitcoin to pleasant jurisdictions and telling the federal government he misplaced the belongings in a “boating accident.”
“At the end of the day, you can tell everybody to go f–ck themselves. You can put it in your head, memorize the fricken key… the classic Bitcoiner response is ‘oh, yeah my Bitcoin, I lost it in a boating accident’…”
According to the civil grievance, Saylor had intentionally averted revenue taxes payable to the District by claiming to be a resident of different decrease tax jurisdictions.
However, from 2005 to the current, it’s alleged Saylor maintained a number of domiciles within the District, together with a luxurious penthouse overlooking the Georgetown waterfront and “multiple yachts” on the Potomac riverfront.
MicroStrategy allegedly knew that Saylor was a resident of the District of Colombia and deliberately misreported his particulars incorrectly — successfully conspiring with Saylor for tax avoidance.
The plaintiff now seeks cost for again taxes, penalties, curiosity, treble damages, “and all other remedies available under the law.”
Saylor has but to launch a direct public assertion on the matter. However, based on CNBC Correspondent Eamon Javers, Saylor stated he left Virginia in 2012 and moved to Miami Beach.
— Eamon Javers (@EamonJavers) August 31, 2022
Saylor stated that Florida is the place he lives, votes, and has attended jury obligation. It is “at the center” of his private and household life. He added:
“I respectfully disagree with the position of the District of Columbia, + look forward to a fair resolution in the courts.“
A statement from MicroStrategy said the company is not responsible for Saylor’s personal affairs and had no hand in overseeing the Chair’s tax liabilities. It denied conspiring with Saylor to avoid tax and said it “will defend aggressively” in opposition to the lawsuit.