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You definitely do owe taxes even is your whole income is in bitcoins and there is no official way to tie bitcoin to usd.

First, you'll have to pay taxes based on the USD value of the goods/services/whatever for which you got that bitcoin income.

Second, you'll have to justify how you got to that value.

Third, if IRS doesn't like your justification and think that you're underestimating the income, they'll charge you a fine for the difference if they think it's a mistake; or prosecute you with tax evasion if they think that it was intentional.

After all that you'll pray for Feds to issue official guidelines on how to tie bitcoin value to USD, since it will make all of this simpler and safer for you.



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