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CoinSutra is a community of Bitcoin, Altcoins, Cryptocurrency users from around the globe.I got some coins years ago and they are now worth a billion dollars,.A joint letter from some of the larger bitcoin companies indicates that. (a passport, income tax form, utility.
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In each case the bitcoin owner may have created a tax liability.
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With coin prices skyrocketing in 2017, the U.S. Treasury wants tax revenues — its share of the windfall profits.
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Notice 2014-21. SECTION 1. PURPOSE. This notice describes how existing general tax principles apply to transactions using. to be the U.S. dollar,.IRS Virtual Currency Guidance:. such as bitcoin. General tax principles that apply to property transactions apply to transactions using virtual...
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The IRS recently issued guidance stating that it will treat virtual currencies, such as Bitcoin, as property for federal tax purposes.A growing number of people are getting their share of the bitcoin pie, but paying taxes on bitcoin may need some explaining.
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