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American businesses that receive payments in cryptocurrencies worth $10,000 or more will have to report those transactions to the Internal Revenue Service, the United States’ Treasury mentioned on Thursday.

This simply puts crypto-coins on the same footing as cash: the IRS says “federal law requires a person to report cash transactions of more than $10,000,” we note. By person, the tax-collection agency means “an individual, company, corporation, partnership, association, trust or estate.”

The Treasury’s announcement about Bitcoin et al just says “businesses” in its fairly vaguely worded, one-sentence announcement, though we imagine that’ll be expanded at some point to person when this is all formalized.


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