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Tag: tax

IRS demands Bitcoins to be taxed as they are "property" and not currency - 1

IRS demands Bitcoins to be taxed as they are “property” and not currency

The IRS (Internal Revenue Service) officially announced on Tuesday March 25th 2014 that from now on any Bitcoin transaction made should be taxed, if not, taxpayers will be subject to penalty, users must also report any transaction made. While additional taxes are never desirable, an array of useful online tools can be found here. This currently only…

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