Friday, June 24, 2016

Accountants Ask IRS to Clarify Bitcoin Transactions’ Tax Status

The American Institute of CPAs has sent the IRS a letter to clarify tax status of small virtual currency transactions and nine other virtual currency issues, according to The Wall Street Journal. A bitcoin payment for a small purchase can have an investment gain or loss on that purchase under the IRS’s existing tax treatment. […]

The post Accountants Ask IRS to Clarify Bitcoin Transactions’ Tax Status appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

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