Bitcoin and Cryptocurrency – An Update

 

 

 

 

As I mentioned in an earlier post, I spoke last month on the Federal taxation of Bitcoin and other crypto-currencies. One of the unknowns at that point was whether the IRS would allow or respect Bitcoin investments in IRAs – that question wasn’t answered in IRS Notice 2014-21 (the Service’s initial attempt to explain virtual currency taxation). So, I wonder how the IRS will treat this new development.

As with most legal and tax issues, it usually takes an actual living and breathing example before guidance is handed down.

http://www.digitaljournal.com/pr/3451610