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The IRS doesn’t know how to tax Bitcoin

28
Jan
2014

Bitcoin users want to pay their taxes come April, but the Internal Revenue Service (IRS) wont tell them how. The agency needs time to study the issue, it told the National Journal in a statement, before it can give guidance on how taxpayers should treat the virtual currency. The IRS is aware of the potential tax-compliance risks posed by virtual currencies, the agencys statement said. The IRS continues to study virtual currencies and intends to provide some guidance on the tax consequences of virtual-currency transactions.

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