THE IRS IS TARGETING BUSINESS TRANSACTIONS IN BITCOIN AND OTHER VIRTUAL CURRENCIES Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
Bitcoin
Virtual Currency, Bitcoin, Is Subject to IRS Criminal Enforcement
The IRS has an all-out campaign against virtual currencies. As I predicted when Bitcoin first came out, to the dismay of many of its users, bitcoin is not considered “money” for tax purposes. That means any virtual currency is regarded as a commodity where you can...
Bitcoin and Digital Currencies are Taxable Property in the US
WHAT BUSINESSES NEED TO KNOW ABOUT THE TAX TREATMENT OF BITCOIN AND OTHER VIRTUAL CURRENCIES Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as...
Bitcoin – Not for Avoiding Taxes
BITCOIN TRANSACTIONS ARE TAXABLE BITCOIN HAS BECOME THE RAGE IN THE PAST FEW MONTHS BY THE SO-CALLED ASSET PROTECTION INDUSTRY. THERE HAVE BEEN CLAIMS THAT THIS CRYPTOCURRENCY CANNOT BE DETECTED BY GOVERNMENTS AND TRANSACTIONS ARE NOT TAXABLE. NOT TRUE! Under the...
