Mar 27, 2014

IRS will tax cryptocoins as property, not currency

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The United States’ tax agency, the Internal Revenue Service, clarified its position on cryptocurrencies Tuesday in a statement. The full text is below.

The biggest takeaway is that the IRS plans to tax digital currencies as property, which means that:

 

 

Income tax for most Americans must be filed by April 15, so the timing is a bit inconvenient for those who have already filed.

 

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