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Archive for the Bitcoins Category

IRS, Taxpayers Respond To Tax Cuts And Jobs Act

IRS, Taxpayers Respond To Tax Cuts And Jobs Act

The Tax Cuts and Jobs Act (HR 1) is now law and the IRS, tax professionals and taxpayers are gearing up to implement the massive overhaul of the Tax Code. For the IRS, one of the most immediate projects is the release of new withholding tables. “With…

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IRS Issues First Guidance on Bitcoin

While bitcoin and other virtual currencies are becoming more popular, the tax rules that apply to them have been unclear, including the basic question of whether they are treated as a currency or as property.  Well, the first step to clearing this up for federal tax purposes…

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