Tax filing season is once again upon United States taxpayers. Each year, American citizens and green card holders must report any income they earned in the U.S. and abroad to the Internal Revenue Service. Beginning in 2014, American taxpayers are required to include income earned by way of Bitcoin and other virtual currencies on their federal income taxes. Bitcoin is a digital or virtual form of currency that is stored on your computer and does not rely on a central bank.
According to IRS guidance, convertible virtual currencies should be treated as a capital asset for... Read More