Bitcoin Taxes
In the U.S. the IRS has ruled to treat Bitcoin as property for tax purposes (IRS Notice 2014-21). Back taxes for bitcoin gains may be levied if the gains are not reported.
In Japan the government has ruled that there is no tax on bitcoin (2017). The exemption from application of Japanese Consumption Tax not only applies to Bitcoin but also to other virtual currencies as well.
As bitcoin is used more and more for consumer purchases it is expected that the tax compliance burden for bitcoin and other virtual currencies will only increase.
Information provided about back taxes is intended for educational purposes. The content of this site is not intended to be a substitute for
professional tax advice rendered by a CPA, attorney, or an Enrolled Agent.
