Florida Republican Congressman Matt Gaetz introduced a bill on Tuesday that would authorize federal income taxes to be paid using Bitcoin. This proposed legislation, if enacted, would require the U.S. Secretary of the Treasury to develop a plan to facilitate Bitcoin payments for federal taxes.
Gaetz stated that his bill aims to modernize the U.S. tax system by incorporating digital currencies. He believes that allowing individuals to use Bitcoin for taxes will stimulate innovation, streamline processes, and provide Americans with more payment options. Gaetz views this as a crucial step towards in…
The post Paying Your Taxes with Bitcoin? It Could Soon Be a Reality in the U.S. appeared first on Coin Edition.
Florida Republican Congressman Matt Gaetz introduced a bill on Tuesday that would authorize federal income taxes to be paid using Bitcoin. This proposed legislation, if enacted, would require the U.S. Secretary of the Treasury to develop a plan to facilitate Bitcoin payments for federal taxes.
Gaetz stated that his bill aims to modernize the U.S. tax system by incorporating digital currencies. He believes that allowing individuals to use Bitcoin for taxes will stimulate innovation, streamline processes, and provide Americans with more payment options. Gaetz views this as a crucial step towards in…
The post Paying Your Taxes with Bitcoin? It Could Soon Be a Reality in the U.S. appeared first on Coin Edition.