IRS suggests game currency are not taxable; indeed, the experts say they d’t believe in it

A change to the IRS website suggests that the game currencies are not taxable, in spite of a declarati that they are – but tax experts say that people should probably still declare …

The Point reports the strange situati.

However, when Bloomberg specifically questied the positi, Desmd has refused to be drawn.

Tax experts say that the safest thing is to pretend that the IRS never deleted the text.

Wednesday, the IRS has quietly changed a provisi its website, the transactis of the virtual currency as Fortnite is V-bucks were taxable and must be reported tax returns, as reported by CNN.

The provisi had been the irs site since at least October, and you can see here, through the Wayback Machine. the archived versi of the site, Bitcoin, Ether, Roblox (probably a reference to Robux the game Roblox), and V-males that are listed as specific examples of a “cvertible virtual currency.” The IRS defines a cvertible virtual currency as e that has an equivalent value in or acts as a substitute for real currency. The IRS’ website now lists Bitcoin as an example of a cvertible virtual currency.

However, the IRS’ inclusi of video game currencies was apparently an error. IRS chief counsel Michael Desmd said to reporters today that the issue has been “corrected and that was de quickly—as so as it has been brought to our attenti,” according to Bloomberg Tax.

The Point reports the strange situati.

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Wednesday, the IRS has quietly changed a provisi its website, the transactis of the virtual currency as Fortnite is V-bucks were taxable and must be reported tax returns, as reported by CNN.

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