Sunday, December 31, 2017

Questions about BITCOIN, TAXES, the IRS, SEC, CFTS, and more

*****IRS FUD RISING*****

The IRS and CRYPTO CURRENCY:


How is BITCOIN TAXED?


How about ALTCOIN TRANSACTIONS?

SO MANY QUESTIONS and so little answers:

Everyone has an OPINION

What will the IRS do?

How do you even do your taxes?


https://www.irs.gov/pub/irs-drop/n-14-21.pdf




Bitcoin Questions

IRS, CFTC, TAXATION, Coinbase...???

According to the CFTC BITCOIN is a commodity that is used as currency. That is what this panel of lawyers said.  But they are also confused.  Here's why:

THERE ARE NO STRAIGHT ANSWERS AND REGULATORY GUIDELINES AS TO WHAT BITCOIN IS AND HOW IT IS TO BE PROPERLY TAXED.  IT IS ALL RIGHT NOW SUBJECT TO THE OPINIONS OF GOVERNMENTS, AGENCIES, AND ATTORNEYS WHO ARE ALL TRYING TO FIGURE IT OUT....VERY STRANGE INDEED...

Right now there are TAX FREE EXCHANGES but that could change. Just more confusion:
https://www.bloomberg.com/amp/news/articles/2017-12-21/tax-free-bitcoin-to-ether-trading-in-u-s-to-end-under-gop-plan






...developing...

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