Definitely a concern for anyone that's significantly profited off Bitcoin during 2013, the Internal Revenue Service has yet to weigh in on the classification of virtual currencies for the tax season.
Definitely a concern for anyone that's significantly profited off Bitcoin during 2013, the Internal Revenue Service has yet to weigh in on the classification of virtual currencies for the tax season.
There's no mystery about why the three letters IRS strike fear into every heart. As far back as 1819, nearly a century before the income tax was imposed by Congress, Supreme Court Chief Justice John Marshall observed that the power to tax is the power
The IRS is asking Americans to comment on how it should regulate social welfare groups. Under the tax code, they are known as 501(c)(4) groups. They are the new players in politics — heavily financed but done so anonymously. Copyright © 2014 NPR.
In theory, IRS administrative decisions about the tax treatment of relative minor entities shouldn't be a big deal. But in practice it often doesn't work out that way. When word first came down that hedge fund and private equity managers could classify