Tax,
Government,
Administrative/Regulatory
Dec. 11, 2017
IRS is hunting bitcoin via Coinbase, but is amnesty coming?
Don't get excited or fearful just yet. The IRS has not yet announced a tax amnesty for people who failed to report their gains and income from bitcoin and other virtual currencies. But there has long been speculation that it might happen.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Don't get excited or fearful just yet. The IRS has not yet announced a tax amnesty for people who failed to report their gains and income from bitcoin and other virtual currencies. But there has long been speculation that it might happen. And given recent developments, we may now be one step closer.
It is well-known that the IRS is looking hard at bitcoin and other cryptocurrency transactions, hoping to scoop up some tax dollars. Fri...
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