- On Tuesday, the IRS notice said payments worth at least $600 and made with bitcoins will be taxed the same way the agency treats property transactions.
- “A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property,” the IRS said.
- The IRS admits Bitcoin and other electronic tokens sure function like a real currency.
- The IRS’ notice serves as one of the first attempts by the U.S. government to regulate the digital money.
- The IRS notice says bitcoins must be valued at their “fair market value” at the time you acquire it.
The IRS says it can tax Bitcoin, describing it as a property — not a currency.
Continue reading “IRS says Bitcoin is taxable property, not a currency”
- The U.S. Border Patrol photographed the boxes it says carried $3 million in the trunk of a Volkswagen Passat
- The the U.S. Border Patrol seized more than $3 million in cash that it says two men were trying to smuggle into Mexico from California this week.
- The Border Patrol noted most of its past seizures have been in smaller amounts: $300,000, $51,000 and $43,000.
- California is a hub for money laundering by Mexican cartels
- (CNN) Border Patrol agents in California hit a jackpot this week in terms of cash seizures: $3 million.
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@GoInvest_Direct: “#Bitcoin San Diego Border Patrol seizes $3 million (Bitcoin users unaffected)”
Border Patrol agents in California seize $3 million from currency smugglers who launder money for mexican cartels, drug smugglers and human traffickers
San Diego Border Patrol seizes $3 million