The IRS Has Struggled With How to Treat Virtual Currencies for Tax Purposes

The IRS Has No Problems Reminding Taxpayers to Pay, but Fails to Provide Guidance on How to File

By Jamie Redman in Bitcoin.com News

A committee of US politicians and bureaucrats sent an open letter to the Internal Revenue Service (IRS) in regard to the way cryptocurrencies are taxed. The representatives’ letter, directed toward IRS commissioner David Kautter, wants the taxation office to publish provisional guidelines on how digital currency transactions and investments should be handled when US citizens file their taxes.

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Feltman founded the U.S. and European Conflict Indexes in 1988. The indexes have predicted the winner of every U.S. presidential election beginning in 1988, plus the outcome of several European elections. In May of 2010, the Conflict Index was used by university students in Egypt. The Index predicted the fall of the Mubarak government within the next year.
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