HR 4602 · 113th Congress · Taxation

Virtual Currency Tax Reform Act

Introduced 2014-05-07· Sponsored by Rep. Stockman, Steve [R-TX-36]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2014-05-07)

Plain Language Summary

[AI summary unavailable — showing source text] Virtual Currency Tax Reform Act - Directs the Internal Revenue Service (IRS) to treat virtual currencies as a foreign currency for federal tax purposes. Defines "virtual currency" as a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. Imposes a five-year moratorium on any capital gains tax on virtual currencies.…

Summarized by Claude AI · Non-partisan · For informational purposes only