Bitcoin Policy Institute Endorses Bitcoin For America Act and Unveils Bitcoin Tax Payment Model
21 Articles
21 Articles
New Bitcoin for America Act lets you pay the IRS in Bitcoin and fuels a $14T boost to economy - Coin Surges
The United States could generate up to $14 trillion in cumulative value if 1% of federal taxes are paid in Bitcoin over the next two decades, according to new modeling from Bitcoin Policy Institute presented alongside Rep. Warren Davidson’s Bitcoin for America Act. The bill, introduced on Nov. 20, would allow taxpayers to settle federal liabilities in Bitcoin and direct every incoming coin into the Strategic Bitcoin Reserve created earlier this …
Rep. Davidson Introduces the Bitcoin for America Act to Allow Tax Payments in Bitcoin
The Bitcoin for America Act allows U.S. taxpayers to pay federal taxes using Bitcoin. The bill proposes the creation of a Strategic Bitcoin Reserve to hold the cryptocurrency. Taxpayers would have the option to allocate payments to the reserve instead of other government expenditures. Rep. Warren Davidson, a Republican from Ohio, has introduced a new bill called the Bitcoin for America Act. This proposed legislation aims to allow U.S. taxpayers …
Bitcoin for America Act allows tax payments in Bitcoin
Representative Warren Davidson, a Republican from Ohio, introduced the Bitcoin for America Act in the House of Representatives on Thursday. The bill permits Americans to pay federal taxes in Bitcoin, directing those payments into the U.S. strategic Bitcoin reserve without triggering capital-gain taxes or recording losses or gains for taxpayers. The legislation aims to expand the nation’s Bitcoin holdings by channeling tax payments directly into …
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