Virtual Currency Tax 5 Fairness Act - US Senate bipartisan bill - Bitcoin transactions under $50 tax free
Jul 27, 2022 @ 8:11 pm - Mississippi and Louisiana, USA | Jul 27, 2022 @ 10:11 pm - Greater Antilles, CARJul 28, 2022 @ 3:11 am - Rome, ITA | Jul 28, 2022 @ 4:11 am - Athens, GRC | Jul 28, 2022 @ 11:11 am - Tokyo, JPN
by Luke Nandibear
Bitcoin: A Peer-to-Peer Electronic Cash System (not a store of value!)
A BILL To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchanges of virtual currency, and for other purposes...
The bill was introduced by US Senator Pat Toomey (R-PA) to make bitcoin transactions tax free when the Bitcoin market price of the transaction is $50 or less. This applies also to trades which net a capital gain of less than $50.
PDF of the bill available at: nandibear.com/docs/virtual-currency-tax-fairness-act-bitcoin-peer-to-peer-electronic-cash.pdf
Article word count: 101
Count including updates (if any): 101
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