“[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:
The Woes of an American Drone Operator
Suspension over gun-shaped toaster pastry is now permanent mark on kid’s record
Syrian rebels say they have received anti-tank and anti-aircraft missiles
37 people arrested protesting drones (2011)
G20 will ignore G7 demands on currency wars
Lawsuit claims Chicago Police strip-searched trio in public
President Obama and his secret executive friends
Beating of diabetic driver raises questions about N.J. State Police training
WWII Shipwreck Yields $38 Million Of Silver From Atlantic
Cop In Florida Arrested For Giving Traffic Tickets To Minorities For No Reason
Google challenges Apple with high-end laptop
With military at ‘turning point,’ defense chief Leon Panetta avoids bold moves
U.S. drone strikes intensify in Yemen
Six dead as thousands of Mursi supporters march in Egypt
Bitcoin: the fastest growing currency in the world