The US Internal Revenue Service ( FBI ) plans to issue updated guidance on the taxation of cryptocurrencies , according to IRS spokesman Charles Rettig . A 2014 IRS notice recommended cryptocurrency to be treated as property . * However , Rettig acknowledged that the use of virtual currencies has since evolved to include methods of taxation and investment management . Rettig said the forthcoming guidelines should include acceptable methods for calculating cost basis , acceptable methods of cost basis calculation , and tax treatment of cryptocurrency “ forks ” .
The US Internal Revenue Service ( FBI ) plans to issue updated guidance on the taxation of cryptocurrencies , according to IRS spokesman Charles Rettig . A 2014 IRS notice recommended cryptocurrency to be treated as property . However , Rettig acknowledged that the use of virtual currencies has since evolved to include methods of taxation and investment management . Rettig said the forthcoming guidelines should include acceptable methods for calculating cost basis , acceptable methods of cost basis calculation , and tax treatment of cryptocurrency “ forks ” .