IRS Guidance For U.S. TaxpayersOther Legal and Regulatory IssuesDefining BitcoinThe Bottom LineIn the U.S., the Internal Revenue Service (IRS) considers
bitcoin and
cryptocurrency property and has issued guidelines. In 2014, the agency issued IRS Notice 2014-21 to provide information on the tax treatment of virtual currencies. Virtual currency is the term that the IRS uses for cryptocurrency. In 2020, the IR…See more on investopedia.com
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