For the first time since 2014, the Internal Revenue Service on Wednesday offered formal guidance on cryptocurrencies like Bitcoin—and not everyone is happy. While the new information clears up some long standing accounting questions, it also could expose anyone who owns cryptocurrency to unpleasant tax predicaments. The guidance came in the form of a lengthy 'Frequently Asked Questions' documents that provided new details about how the agency's 2014 position—which declared Bitcoin and other digital assets to be property—should apply in practice. According to Katya Fisher, a cryptocurrency attorney at Greenspoon ... (full story)