Tag: bitcoin
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IRS launches audits of bitcoin holders
Bitcoin is the largest and oldest cryptocurrency so it makes sense that IRS would take enforcement action against these account owners first. Some owners may have heard incorrect information that their transactions were not taxable or that IRS could not get their account information. Both of these are false. IRS announced last year that it…
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A practical approach to bitcoin for regular people
Today I set up an account on Coinbase so that I can conduct transactions in bitcoin. If you don’t know what either of those terms means, there is probably no point in continuing to read further. But if you are aware of bitcoin and might have been wondering whether “regular people” should be involved, this…