12 Sep '17, 3am

Only 802 People Paid Taxes on Bitcoin Profits, IRS Says

Only 802 People Paid Taxes on Bitcoin Profits, IRS Says

Talk about investing in Bitcoin and the news of people becoming ‘bitcoinnaires ’ are almost everywhere these days – newspapers, TV’s, radio, and the Internet. However, one thing is missing from these stories: the tax man. Yes, Virginia, Bitcoin is taxable The IRS began issuing guidance on taxation of Bitcoin in March 2014. At that time, the agency announced that Bitcoin would be treated as property, with loss or gains being treated as capital loss or capital gains for tax purposes. Readers are probably familiar with the many “rags-to-riches” stories about Bitcoin investors becoming millionaires almost overnight. Such stories abound, from the Idaho teenager who turned $1,000 into $1.1 mln and the Norwegian engineer who made $800,000 in profit off a $24 investment. None of these stories mention the taxes these individuals paid...or didn’t pay. Catch me if you can Given Bitco...

Full article: https://cointelegraph.com/news/only-802-people-paid-taxes...

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JPMorgan's Dimon says bitcoin 'is a fraud'

reuters.com 12 Sep '17, 6pm

NEW YORK (Reuters) - Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (JPM.N ), ...

JPMorgan's Dimon says bitcoin 'is a fraud'

reuters.com 12 Sep '17, 7pm

NEW YORK (Reuters) - Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (JPM.N ), ...

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