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The U.S. Internal Revenue Service (IRS), the federal tax agency of the United States, has come to the conclusion that bitcoins in the United States are not a currency but an asset.
For a long time, it was unclear to the US tax authorities how to deal with this cryptocurrency and how to tax it.
Because of this judgment, bitcoin falls under the same category as gold. This judgment on gold has also lasted well over 5 years.
The consequences of this assessment by the US tax authorities is that if payments are made in bitcoins, the value of this currency must be declared to the tax authorities. This is the value of the moment the bitcoins were received.
It seems that this regulation will apply retroactively.
