US HB4602 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 7 2014 - 25% progression, died in committee
Action: 2014-05-07 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 7 2014 - 25% progression, died in committee
Action: 2014-05-07 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Virtual Currency Tax Reform Act
Sponsors
| Rep. Steve Stockman [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2014-05-07 | House | Referred to the House Committee on Ways and Means. |
Subjects
Capital gains tax
Currency
International monetary system and foreign exchange
Tax administration and collection, taxpayers
Taxation
Currency
International monetary system and foreign exchange
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/house-bill/4602/all-info |
| Text | https://www.congress.gov/113/bills/hr4602/BILLS-113hr4602ih.pdf |
