The virtual makeup of Bitcoin has led some academics to highlight the potential for tax abuse.
University of Florida Assistant Law Professor Omri Marian said that because "no one imposes tax in cyberspace", and because of the anonymity of Bitcoin holders, people can use it to hide their profits.
The Internal Revenue Service (IRS) ruled last month that Bitcoin is property not currency in the US tax system .
more
{ 0 comments... » Can you use Bitcoin as a tax heaven? read them below or add one }
Post a Comment