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March 25, 2014 10:24 pm GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Cil32RB0j7s/
IRS Rules Bitcoin Is Property, Not Currency
The IRS has officially stated that bitcoin is a property - similar to any other valuable commodity - rather than a currency. What does this mean? Not much. In short, if you pay someone in bitcoin - in the same way you could pay them in gold - the wages are taxed accordingly. It is also not considered legal tender but a capital asset. Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/Cil32RB0j7s/
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