its a non issue. The IRS won't be coming after you for a cup of coffee. trust me.
by the time bitcoin is widely adopted there will be user friendly apps to help track this
stuff...I'm sure some are being developed now and may even already exist.
It most certainly is an issue.
I never said they'd come after you for a cup of coffee. That's a strawman. They sure as hell will come after you for any large purchases like real estate or vehicles. That's really not the point, though. By the letter of the law, all Bitcoin transactions must be reported to the IRS, if you're a U.S. citizen. Think about it. A currency should not require an app to remain in compliance with tax code. What you're failing to realize is that by that stroke of the pen, the IRS has relegated Bitcoin to be something other than a currency in the U.S. In my opinion, this is the first thing that needs to be changed. I doubt it will, ever. It was a purely deliberate move to force regular users of Bitcoin to either throttle back on their Bitcoin use in order to remain compliant with tax code, or simply skirt the law. Either way, the statists win.