Posts tagged Tax Guidance.
The Internal Revenue Service (“IRS”) will be releasing guidance on the tax treatment and reporting requirements of “virtual currencies” (i.e., cryptocurrencies) very soon, according to Internal Revenue Service Commissioner Charles (“Chuck”) Rettig.
Commissioner Rettig’s statement was prompted by a letter sent to him on April 11, 2019 by a bipartisan group from the House of Representatives. The letter urged the IRS to issue guidance on the tax consequences and basic reporting requirements for virtual currencies. In particular, the Representatives’ letter ...
Posted in: Federal Tax, Income Tax