The emergence of Bitcoin and how it affects payroll

Robbie MossBlog, Payroll Services, Tax

Bitcoin is a virtual, technology-based currency that is gaining popularity as an alternative to regular currency in commercial transactions. The IRS recently issued Notice 2014-21 to address issues with Bitcoin. The 16-question FAQ explains the tax and payroll consequences of using Bitcoin. As a preliminary matter, the IRS defines virtual currency like Bitcoin as “a digital representation of value that … Read More