Why You Must Report Bitcoin and Cryptocurrencies Gains to the IRS

In an article on Accounting Today, it is reported that over 14,000 U.S. taxpayers have used Coinbase to buy, sell, send or receive Bitcoins and other cryptocurrencies from 2013 to 2015. Their accounts register transfers of at least $20,000. Very few of those people, however, have actually reported any gains to the IRS from their Bitcoin…