If you’re still asking “when are taxes due?” this morning, today may be a tough one for you. Sorry Bitcoin HODLers and traders, your tax returns deadline is today, April 15.
Bitcoin: When Are Taxes Due and Where to Start?
Like many things surrounding Bitcoin, Bitcoin taxes are still somewhat shrouded in mystery. However, complicated as they may be, a quick Google search should help you navigate your way through the maze.
There are a few common misconceptions about Bitcoin taxes. The first being that there is no tax on virtual currency.
If you’re with the 51 percent of HODLers polled last year and think that the IRS will never catch you, you may be in for a shock. Even small-time traders who conceal earnings may wish they hadn’t if they resurface later.
Ok US people, crypto taxes:
— Ryan Selkis (@twobitidiot) April 1, 2018
The IRS published guidelines on Bitcoin taxes back in 2014. The key takeaways are that Bitcoin earnings are not tax-free and that they’re viewed in the same class as an investment property,…