Published 06/26/2024 12:46:00 a.m.

Gaetz unveils bill allowing bitcoin tax payments

Congressman Matt Gaetz has proposed a bill to allow federal income tax payments using Bitcoin.
The bill outlines regulations for the Treasury secretary to receive Bitcoin payments for certain federal taxes.
Immediate conversion of Bitcoin payments to their dollar equivalent at the end of transactions is required under the provisions of the bill.

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The Hill

Gaetz unveils bill allowing bitcoin tax payments

Rep. Matt Gaetz (R-Fla.) proposed a bill allowing Americans to pay federal income tax in bitcoin, saying it would promote innovation and flexibility.

06/25/2024 4:15:54 p.m.·Washington, United States

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Benzinga

Congressman Matt Gaetz Introduces Bill To Allow Federal Tax Payments In Bitcoin

Congressman Matt Gaetz (R-Fla.) has introduced a bill that would allow federal income tax payments to be made in Bitcoin (CRYPTO: BTC).

06/25/2024 2:31:46 p.m.·New York, United States

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Washington Examiner

Matt Gaetz introduces legislation to require IRS to accept Bitcoin as payment

Rep. Matt Gaetz (R-FL) introduced legislation that requires the Internal Revenue Service to accept Bitcoin as payment for federal income taxes. In a press release, Gaetz’s move was credited to his recent trip to El Salvador, where he met with President Nayib Bukele. One of Bukele’s first efforts was adopting Bitcoin as legal tender in the country, an embrace that Gaetz wants to recreate in the United States. “My groundbreaking legislation will m…

06/25/2024 7:52:07 p.m.·Washington, United States

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The Daily Wire

Matt Gaetz Introduces Bill To Allow Bitcoin Payments On Federal Income Tax

Rep. Matt Gaetz (R-FL) is introducing a bill that would allow the federal income tax to be paid with Bitcoin, The Daily Wire can exclusively reveal. The legislation, if enacted, would amend the Internal Revenue Code of 1986 with language ordering the Treasury secretary to develop a plan for accepting the popular decentralized digital currency. “By enabling taxpayers to use Bitcoin for federal tax payments, we can promote innovation, increase eff…

06/25/2024 10:04:08 a.m.·Nashville, United States

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