IRS Reminds Taxpayers Cryptocurrency Income Is Taxable


U.S. taxpayers are required to report income from virtual currency transactions, the Internal Revenue Service has advised taxpayers in a notice. The agency has provided guidance on virtual currency in IRS Notice 2014-21 for taxpayers and tax preparers.   Just like transactions in any other property, virtual currency transactions are taxable. Those who fail to report

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Posted by Lester Coleman on March 25, 2018 @ https://www.ccn.com/irs-advises-taxpayers-virtual-currency-income-is-taxable/

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