H.R.4602 - Virtual Currency Tax Reform Act113th Congress (2013-2014)
|Sponsor:||Rep. Stockman, Steve [R-TX-36] (Introduced 05/07/2014)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/07/2014 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4602 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (05/07/2014)
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.