“[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.'”
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Tip Freedomwat.ch Staff with Bitcoin
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