Go to Top

Blog Archives

Tag Archives: Bitcoin

Virtual Currency…Every Bit Counts

Virtual Currency…Every Bit Counts A recent IRS ruling on virtual currencies like Bitcoin classify them as property. This ruling has far reaching consequences on this new concept. Here is what you need to know. In recent Internal Revenue Service Notice 2014-21, virtual currencies like Bitcoin have been classified as property. The IRS is aware of the growing popularity of this medium of exchange and that it is not considered legal …Read More