Tax Policy, Not Technology, Is Blocking Bitcoin Payments, Advocates Say

Using Bitcoin to buy groceries or pay a bill sounds simple. Under current US tax law, it is anything but. Every transaction — no matter how small — triggers a taxable event that must be reported to...

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Tax Policy, Not Technology, Is Blocking Bitcoin Payments, Advocates Say

Source: Bitcoinist.com

Using Bitcoin to buy groceries or pay a bill sounds simple. Under current US tax law, it is anything but. Every transaction — no matter how small — triggers a taxable event that must be reported to the IRS, forcing users to calculate capital gains on purchases as minor as a cup of coffee. That […]