The IRS is Catching Flack Again for Weak Bitcoin Guidance (This Time on IRAs)

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US citizens who invest retirement money in bitcoin or other digital currencies could face unforeseen tax consequences as a result of IRS policies, a government report released this week argued.Originally prepared in early December, the Government Accountability Office (GAO) published a┬áreport on Monday in which it argued that the IRS needs to do more to inform taxpayers about the potential liabilities they face when investing their individual retirement accounts (IRAs) in blockchain-based assets.As the report states, US law offers a broad degree of leeway when it comes to... read full article »