irs

  • IRS Rules Bitcoin Is Property, Not Currency

    IRS Rules Bitcoin Is Property, Not Currency

    The IRS has officially stated that bitcoin is a property – similar to any other valuable commodity – rather than a currency. What does this mean? Not much. In short, if you pay someone in bitcoin – in the same way you could pay them in gold – the wages are taxed accordingly. It is also not considered legal tender but a capital asset. Read More

  • Play With An MIT Tool That Visualizes How The NSA Can Map Your Relationships

    Play With An MIT Tool That Visualizes How The NSA Can Map Your Relationships

    The brainiacs at MIT created a cool visualization program to map how the National Security Agency can understand your relationships based on who you contact via email and how often. While we still don’t know whether the NSA is collecting the content of phone calls and Internet activity, we know from court documents and Senate testimony that the government broadly mines so-called… Read More

  • IRS moves to collect taxes on your work-provided cellphone

    Another potshot aimed at the working man, friends. The IRS is looking to collecting more taxes on your work-provided cellphone, something the wireless industry—think CTIA, Verizon Wireless, Sprint, etc.—will fight tooth and nail. The industry thinks that if companies and/or employees have to pay more for their phones, they may cancel the service altogether. Read More

  • Why using Google to search for tax documents is so dangerous

    So there’s a longish—the better ones are always longish—post over at Fast Company that details the perils of using Google to find tax documents. (International readers: April 15 is Tax Day in the U.S. It’s a time that drives normally serene men, if I may, batshit crazy.) If you’re pinched for time, the moral of the story is to actually go to http://www.irs.gov for… Read More

  • Use Vonage Or VoIP? You May Be Entitled To Some Bucks

    As you may or may not have noticed on your normal phone bill, there’s a federal excise tax on long-distance phone service. Not only do consumers loathe it, but the government does as well. So as an incentive to use VoIP services, you can earn up to $60 back from federal charges. Here’s how it works: Read More

  • The Government Is A Step Away From Taxing Your eBay Sales

    Ben Franklin was pretty much right on the money when he said that this country is nothing but death and taxes. Tax experts are pushing the IRS to force online auction sites like eBay and Amazon to track users’ sales and report them to the government. However, should the IRS tax sellers on their auctions, I suspect eBay would see a significant drop in overall auctions from smaller users… Read More