17 Jun '13, 8pm

IRS Could Begin Taxing Bitcoin and Other Virtual Currencies

The Internal Revenue Service plans to develop more guidance and training materials to inform taxpayers and tax preparers of the tax compliance risks associated with using virtual currencies like Bitcoin and “Linden dollars.” Like what you see? Click here to sign up for Accounting Today's daily newsletter to get the latest news and behind the scenes commentary you won't find anywhere else. A new report from the Government Accountability Office recommended that the IRS develop additional guidance to reduce the tax compliance risks of virtual economies and currencies, such as the type used in online multiplayer games. The GAO report noted that transactions within virtual economies or using virtual currencies could produce taxable income in various ways, depending on the facts and circumstances of each transaction. For example, transactions within a so-called “closed-flow” vir...

Full article: http://www.accountingtoday.com/news/IRS-Taxing-Bitcoin-Vi...

Tweets

BitCoin Mining, Other Virtual Activity Taxable ...

yro.slashdot.org 18 Jun '13, 3pm

"Beware you barons of BitCoin – you World of Warcraft one-percenters: the long arm of the Internal Revenue Service may soo...

Sorry Bitcoin users – the federal government wants to start taxing you.

Sorry Bitcoin users – the federal government wa...

redalertpolitics.com 18 Jun '13, 9pm

Sorry Bitcoin users – the federal government wants to start taxing you. The Government Accountability Office released a ne...

IRS targets bitcoin

IRS targets bitcoin

coindesk.com 19 Jun '13, 7am

Those trading in digital currency in the US will soon be given more guidance on their tax reporting requirements. The Inte...

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forbes.com 18 Jun '13, 8pm

I’m a tax lawyer based in San Francisco (www.WoodLLP.com), but I handle tax matters everywhere. I enjoy untangling a tax m...

Auditors and IRS Pan Tax Regulations for Bitcoins

Auditors and IRS Pan Tax Regulations for Bitcoins

nextgov.com 17 Jun '13, 9pm

Federal auditors are recommending that the Internal Revenue Service not issue regulations for taxpayers on filing returns ...

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salon.com 19 Jun '13, 7pm

Tthe U.S. Government Accountability Office’s new report on the tax implications of virtual currencies is definitely the GA...

BITCOIN RULES EVERYTHING AROUND ME #BREAM GET T...

twitter.com 19 Jun '13, 3am

When you tweet with a location, Twitter stores that location. You can switch location on/off before each Tweet and always ...

Bitcoin tax time? - Salon #bitcoin

salon.com 19 Jun '13, 7pm

Tthe U.S. Government Accountability Office’s new report on the tax implications of virtual currencies is definitely the GA...

Bitcoin transactions taxable, says GAO by @Ben_...

thehill.com 17 Jun '13, 9pm

Some transactions involving bitcoin and other virtual currencies are subject to federal taxes, the Government Accountabili...

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My So-Called Bitcoin Life - National Review Onl...

nationalreview.com 20 Jun '13, 8am

hile the loftier dreams of science fiction are still irritatingly unrealized — we’ll all probably shuffle off our mortal c...

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online.wsj.com 14 Jun '13, 10am

WASHINGTON—The United States' top anti-money-laundering regulator Thursday said her agency isn't working to clamp down on ...

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online.wsj.com 13 Jun '13, 6pm

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Bitcoin is over.

nymag.com 20 Jun '13, 4pm

Bitcoin isn't quite like a traditional currency. Even if the pieces of the Bitcoin infrastructure that intersect with the ...