Senate hearing reveals why your crypto taxes could change everything by 2026
Key Points
- The IRS treats Bitcoin purchases as property sales, triggeri...
The IRS currently treats your Bitcoin purchase like buying a vintage comic book - every time you spend it, you're technically selling property and triggering capital gains taxes. Yes, that means buying coffee with crypto creates a taxable event that would make your accountant weep.
This delightfully complex situation is why the Senate Finance Committee is gathering on September 30th to figure out how to tax digital assets without accidentally criminalizing pizza purchases. Chair Mike Crapo and his committee are wrestling with recommendations from the White House's Digital Asset Working Group,...
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