Everyday we hear more and more about Bitcoin. Paypal now accepts it, as does several online vendors. I'm not sure if Moskowitz LLP is prepared to accept Bitcoin, but there is a Bitcoin ATM in our coffee shop downstairs. The taxation aspects and impact on businesses is what we are really into. Check out our Three part series for more information regarding income taxes and tax obligations surrounding Bitcoin.
Taxation of Virtual Currency: It's Not Money
Taxation of Virtual Currency Income
Reporting and Penalties for Non-Compliance