Cryptocurrency News / 08 June 2017 / US Congressional Group Calls on IRS to Clarify Bitcoin Tax Guidance
The leaders of a US Congress caucus focused on blockchain are calling for guidance from the Internal Revenue Service (IRS) regarding the tax requirements for cryptocurrencies. In a letter dated 2nd June, two co-chairs of the Blockchain Caucus, a congressional group which was founded last autumn, called on the tax agency to "issue additional guidance on the tax consequences and basic tax reporting requirements for transactions using virtual currencies". The co-chairs wrote:
"Further, we encourage the IRS to engage with virtual currency exchanges to better understand their ability to engage in information reporting, including recordkeeping to track realized gain or loss and identify the amounts of virtual currency used in taxable transactions."
pretty soon everyone with cryptos will just leave the united states for good taking what they have with them leaving their empty house behind ....so when the irs go knocking thats if they even have enough staff to do that noone will be home....lol.....at least thats how i see it.... unless they want to surrender all their cryptos to fund further wars of agression globally.....i guess thats fine..
yep, and go where? :)
mexico, malasyia, coata rica, panama, honduras, Philipanes, Singapore, theres quite a lot to choose from....
The crypto world is still very young, and the financial and political world are not yet prepared for it, we will see a lot of changes in the coming years, lots of ups and downs, regulations and deregulations, i don't think that anyone has to leave their country, Blockchain just is what it is...
No, because if you ever return you have to declare all the crypto you own.
Congratulations @slivers! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
So where is the guidance?
are you speaking to me? ......actually i dont even live in the states and not a citizen if your asking me for guidance i guess its just get up n go.....if i was a us citizen i would never be returning to the country not in 3 lifetimes there is a big world outside the us of A that exists and many fail to see it...... after all the mainstream media is hell bent on rubbishing the rest of the planet as "Unsafe" lol..........whats unsafe are the fiat ponzie banks .....and their crusade to perscute the average person......god help anyone that creates the money or "Time" to travel and discover themselves....... Jeff Berwick is good source pf knowledge on these matters too ive found...... with that said i hope ive helped.......after all thats what we are here for :))) good day to you....