Drake Software blog for tax pros, covering tax, IRS news, and more

Is Bitcoin a Viable Currency?

Is Bitcoin a Viable Currency?

Cryptocurrencies have made some early adopters a lot of money, which—for conscientious taxpayers and tax professionals alike—begs the question: how does IRS handle Bitcoin and other virtual currency?…

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Are Bitcoin Users Cheating on Taxes?

Are Bitcoin Users Cheating on Taxes?

The use of virtual currency such as Bitcoin has been growing for all sorts of online financial transactions. But the Internal Revenue Service says they’re finding that very few of those transactions are being reported for tax purposes.…

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