The IRS currently considers cryptocurrency to be property. But that doesnt mean one should avoid reporting gains. The agency has always been more lenient on taxpayers and investors who jump the gun in this regard. Coming forward sooner rather than later can help prevent stricter penalties or fines because of non-reporting.
https://usethebitcoin.com/understanding-bitcoin-and-taxes/
Do we really need to reveal how many bitcoins we have? What are your thoughts on this? Bitcoin as a decentralized system should be tax free. Does this defeat the purpose of the invention? To avoid the centralized system as well as those huge taxes?
https://usethebitcoin.com/understanding-bitcoin-and-taxes/
Do we really need to reveal how many bitcoins we have? What are your thoughts on this? Bitcoin as a decentralized system should be tax free. Does this defeat the purpose of the invention? To avoid the centralized system as well as those huge taxes?
i don't think bitcoin is a tax.if that so,then this is an asset or if bitcoin is tax then they are using it to purchase tax on the countries using bitcoin,if that's happen may of the people ar using this as a currency of as a payment method.