“Given that the allure of bitcoins has been attributed by some to its status as an untraceable alternative to currencies issued by central authorities, there is little reason to assume that bitcoin market participants will honor their tax obligations as soon as the rules are explained more clearly.  Thus, it is not surprising that the potential for bitcoins and other virtual currencies to replace offshore accounts as ‘[t]omorrow’s tax havens’ has been the subject of scholarly analysis and commentary (here and here).  It remains to be seen how the IRS will attack the use of bitcoins and other virtual currencies to evade income tax obligations.”

http://www.forbes.com/sites/insider/2013/08/14/goodbye-switzerland-hello-bitcoins/

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