[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8822 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8822

  To amend the Internal Revenue Code of 1986 to allow the payment of 
                  certain Federal taxes with bitcoin.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 25, 2024

  Mr. Gaetz (for himself, Mrs. Luna, and Mr. Donalds) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to allow the payment of 
                  certain Federal taxes with bitcoin.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PAYMENT OF CERTAIN TAXES BY BITCOIN.

    (a) In General.--Subchapter B of chapter 64 of the Internal Revenue 
Code of 1986 is amended by inserting after section 6316 the following 
new section:

``SEC. 6316A. PAYMENT OF CERTAIN TAXES BY BITCOIN.

    ``(a) In General.--The Secretary shall develop and implement a 
method to allow for the payment with bitcoin of any tax imposed on an 
individual under this title.
    ``(b) Regulations.--The Secretary shall prescribe such regulations 
as the Secretary deems necessary to receive payment by bitcoin, 
including regulations that--
            ``(1) specify when payment by such means will be considered 
        received,
            ``(2) require the immediate conversion of any bitcoin 
        amount received to its dollar equivalent at the conclusion of 
        any transaction,
            ``(3) identify types of nontax matters related to payment 
        by such means that are to be resolved by persons ultimately 
        liable for payment and financial intermediaries, without the 
        involvement of the Secretary, and
            ``(4) ensure that tax matters will be resolved by the 
        Secretary, without the involvement of financial intermediaries.
    ``(c) Authority To Enter Into Contracts.--
            ``(1) In general.--The Secretary is authorized to enter 
        into contracts to obtain services related to receiving payment 
        by bitcoin.
            ``(2) Fees.--Rules similar to the rules of paragraph (2) of 
        section 6311(d) shall apply, determined without regard to the 
        first sentence of such paragraph.
    ``(d) Ultimate Liability; Liability of Banks; Confidentiality.--
Rules similar to the rules of subsections (b), (c), and (e) of section 
6311 shall apply.''.
    (b) Clerical Amendment.--The table of sections for subchapter B of 
chapter 64 of the Internal Revenue Code of 1986 is amended by inserting 
after the item relating to section 6316 the following new item:

``Sec. 6316A. Payment of certain taxes by bitcoin.''.
    (c) Effective Date.--The amendment made by this section shall apply 
to payments made after the date which is one year after the date of the 
enactment of this Act.
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