The tax season is upon us!
Dear US-residing Steemians, remember to start working on your 2017 taxes!
In March 2014 IRS issued a notice on cryptocurrency taxation and it is still valid. Notice 2014-21 says that the tax laws apply to transactions in cryptocurrency the same way it applies to transactions for property, investments, and/or business (capital in nature and revenue in nature).
Please make sure to advise your CPAs on the details.
I will be giving you a general break down on the tax law in a little bit. However, I am not a CPA so please don't take my word as a legal advise- the information I provide is for general purposes only and should not be taken as a legal advise.
Thank you and I'll see you in the next article.
