2013-06-18 Forbes Bitcoin In IRS Crosshairs, Says Government Report

[suryc]

Bitcoin In IRS Crosshairs, Says Government Report

http://www.forbes.com/sites/robertwood/2013/06/18/bitcoin-in-irs-crosshairs-says-government-report/

Bitcoin is virtual currency with no central bank or government. What does the federal government think of it? The IRS could do a better job telling people they have to pay tax on Bitcoin transactions, says a recent Government Accountability Office.....

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In short, people trading in Bitcoins may think they are avoiding taxes. But they are not, at least not always. And forget IRS silence. The IRS is unlikely to continue its watchful waiting, it seems. The new report says the IRS should watch Bitcoin and other virtual currencies closely.

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[cryptoanarchist]

That's why you don't base your business in USSA.

[marcus_of_augustus]

Yeah US corporates and Mega-banks can evade multi-hundreds of billions using daisy-chain ownership and debt-equity schemes .... but worry not, we are watching bitcoin like a hawk  

[TraderTimm]

The house of cards known as IRS tax law falls in a pathetic heap when you don't go outside of the bitcoin network. What are they going to do then? Recognize BTC as a currency and tax in bitcoins? Somehow I doubt that.