The Tax Code and the Tax Code for IRAs

The categorization of bitcoin moving from property to currency could potentially happen. The IRS could change its position right so that would be one thing or number two the IRS sort of drags its feet on changing its position and then someone actually decides to challenge it in tax court, he says. Bitcoin could end up being treated differently for tax purposes in you know florida as opposed to new york Right that could happen now realistically most of the time if the IRS loses at the circuit level they'll what's called formally acquiesce to the ruling meaning they just say that they'll follow it nationwide but they're not required to do so and sometimes they don't there have been historical examples of them