Those who have invested in Bitcoin and other virtual currencies should take heed as the IRS establishes an enforcement initiative for cryptocurrencies and how US taxpayers report these on all tax returns. The IRS believes millions of transactions involving US taxpayers have occurred with exchanges such as Coinbase, and is...
IRS Battle with Bitcoin Gets Political
The ongoing IRS battle with bitcoin gets political as GOP legislators jumped into the fray today. You may remember a piece we did earlier this year regarding the IRS going after bitcoin exchange Coinbase. GOP legislators sent a strongly worded letter to the agency asking whether the "IRS has a...