Does bitcoin cash need to pay tax
According to the regulations of notice 2014-21 of the IRS:
1. The information range of virtual currency payment is consistent with that of other property payment
2. Virtual currency paid to service providers and independent contractors should be taxed, and the tax rules of freelance also apply to virtual currency. Taxpayers usually have to get form 1099-MISC
3. When using virtual currency to pay wages to employees, they must also pay taxes, and they also need to pay federal income tax and payroll tax
4. The third party accepting virtual currency settlement payment on behalf of the merchant must report the payment status in form1099-k, payment card and the third party network dealer
5. Based on the fact that the virtual currency in the hands of taxpayers is a kind of capital asset, the gains or losses in the transaction of virtual currency and the sales of virtual currency need to be taxed
extended information:
legal status of bitcoin in China
in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty
the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate< br />
I can give you a simple and crude answer to this question. It's not necessary at present, but it's hard to say how to develop or what new policies will be adopted in the future. Bitcoin has a great influence on the international market now, there's no doubt about this according to the latest data report of the IRS, the transaction report between 2013 and 2015 shows that the number of people trading bitcoin at that time was less than 900 in the world. Although this figure is obviously incorrect, in order to regulate regulation, the IRS has listed cryptocurrency as an indivial property attribute as early as 2014, And sent a prescribed notice to some bitcoin exchanges
I think there are only two kinds of people in the world, one is rich people, the other is people who have bitcoin, or people who don't have bitcoin. This is an obvious chemical reaction. This may be a wealth belief of most owners or people who will enter the monetary circle in the future, In a short period of time, the soaring currency created a lot of fortune news like a myth. Many people now think that bitcoin is the hope of his life. Obviously, these people have not been cut leeks yet{ RRRRR}Win10 enterprise LTSC is the best
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now trading is purchased through the non regulatory exchange platform, so there is no need to pay tax for the time being
there is no standard and no place to pay