Of Course, The IRS is Updating Its Bitcoin Tax Guidelines as Price is Rising54

With Bitcoin spiking more than 120 percent since the start of 2019, the U.S. Internal Revenue Service (IRS) says it is readying an updated set of guidelines to cover cryptocurrency taxation.

In a letter to a bipartisan group of U.S. Congressmen, the IRS Commissioner Charles Rettig declared that clear-cut Bitcoin tax guidelines were a top priority for the agency. The letter was in reply to an April 2019 letter from the 21-member congressional coalition led by Rep. Tom Emmer (R-MN).

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