“[The IRS] haven’t said a meaningful word about Bitcoin. Their silence hasn’t gone unnoticed. The National Taxpayer Advocate (NTA) has weighed in, citing the lack of clarification over tax treatment of digital currencies like Bitcoin, as one of the IRS’ Most Serious Problems of the year. The NTA noted in her report to Congress that, in the four months between July and December 2013, Bitcoin usage has increased by over 75% while the market value of Bitcoins in circulation increased more than ten-fold. Despite the virtual explosion in popularity, the IRS ‘has yet to issue specific guidance addressing the tax treatment or reporting requirements applicable to digital currency transactions.'”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Officer takes seized vehicles home, bills city for repairs
Idea is floated for a start-up colony anchored in the Pacific Ocean
Kids in solitary confinement: State-sponsored child abuse
Airbnb loses thousands of hosts in SF as registration rules kick in
Show me the money: Hong Kong in "biggest ever" Bitcoin giveaway
Life-saving transplant denied, health insurance canceled over 26-cent shortfall
ECB Said to Expand Covered Bond Purchases From Spain to Germany
Will Bitcoin Craze Grip India?
The day the Holocaust began
‘Technical glitch’ brings down Iranian censorship firewall temporarily
Snapchat's young users snap up stock — and want more IPOs
Bitcoin exchange Mt. Gox hit by $75 million lawsuit
ICE officers storm farm without a warrant, handcuff farmer for filming
Robot turning Japanese children into calligraphers
Bitcoin on BBC Newsnight - 26/03/2013