Trump's new bill means changes for US cryptocurrency users

#OpChangeTheWorld2 🌎

The 115th Congress passed a bill that mainly lowered the corporate tax, and increased the deductions here while limiting the others there. When the change from bitcoin to fiat was taxable, the purchase of physical things with crypto was taxable, now even crypto-crypto is taxable, effectively making all bitcoin transactions, well, taxable. And the change is implemented beginning of the calendar year 2018, a few days away.

Government Gets Its Money. The kind of 2017 bitcoin had means the IRS is giving ever-greater attention to the space. Back-of-the-envelope calculations multiplying five-digit gains and the number of participants on various exchanges signals billions in the government’s due windfall. The IRS has three years to verify a return, and they assess the penalties and interest retroactively.While many in the community agree that taxation is a robbery, immoral at first glance, the government wants to get it's due, so get ready accordingly.

Read : https://news.bitcoin.com/trumps-new-tax-bill-means-changes-ahead-for-us-bitcoiners/

@AnarchoPirate