Taxation of Virtual Currency
Elizabeth Ruth Carter
Louisiana State University, Baton Rouge - Paul M. Hebert Law Center
Tax Planning International Review--Bloomberg BNA, December 2016
In 2014 the Internal Revenue Service (‘‘IRS’’) announced that it intended to treat convertible virtual currency — like Bitcoin — as property for tax purposes. This article contemplates some of the potential tax consequences and pitfalls of treating convertible virtual currency as property rather than fiat currency.
Number of Pages in PDF File: 5
Keywords: Tax, International, bitcoin, virtual currency, digital asset
JEL Classification: H20, K34