Post
Topic
Board Legal
Re: Bitcoins and Tax
by
RodeoX
on 13/11/2014, 15:44:47 UTC
I would caution anyone trying to convince themselves that there are no taxes on bitcoin in the U.S. That is false. You owe on the appreciation in value of any bitcoin you own. That is to say you owe capitol gains. If your salary is being paid in BTC then you also owe income tax.

It is quite possible that the IRS is behind the learning curve on this and may not be able to determine if you owe. In that case you may be able to stick the bill to those who pay your share of taxes. However, if you are caught do not waste your time and money fighting it. You will owe the back taxes plus penalties and late fees.