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News Explorer — Proposed Bill Would Let Americans Pay Federal Income Taxes With Bitcoin

Generated by AI, curated by humans

Jun 25, 5:38 pm

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Proposed Bill Would Let Americans Pay Federal Income Taxes With Bitcoin

U.S. Representative Matt Gaetz has introduced a bill in the House of Representatives that would allow Americans to pay their federal income taxes using Bitcoin. The proposed legislation aims to amend the Internal Revenue Code to accommodate this new payment method and would require the Secretary of the Treasury to develop a system for accepting Bitcoin as payment for individual federal taxes. The bill also addresses issues of liability and confidentiality to ensure existing taxpayer protections are not compromised.

U.S. Representative Matt Gaetz has introduced a bill in the House of Representatives that would allow Americans to pay their federal income taxes using Bitcoin. The proposed legislation aims to amend the Internal Revenue Code to accommodate this new payment method and would require the Secretary of the Treasury to develop a system for accepting Bitcoin as payment for individual federal taxes. The bill also addresses issues of liability and confidentiality to ensure existing taxpayer protections are not compromised.

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