Bitcoin investors should be taxed like any other investor
Despite its name, cryptocurrency isn’t just money. It could also be debt or equity and so it should be regulated and taxed in the same way as other finance.
The tokens investors get when they buy a cryptocurrency, like Bitcoin, can be used to buy into blockchain startups (businesses that use the same online ledger as cryptocurrencies). When blockchain startups issue shares in their businesses using cryptocurrency, it’s called an initial coin offering. For investors, this is like any other equity investment.
Read More Here: http://theconversation.com/bitcoin-investors-should-be-taxed-like-any-other-investor-84291
You should really look into http://losthorizons.com, and the book "Cracking the Code" both by Pete Hendrickson.
In a nutshell, the only people who owe taxes are those paid by the government. If you don't have a government job (or contract), then you're off the hook. Use form 4852 to correct the erroneous assertion by your employer that you made legislative "wages" or "income" (terms that differ from their dictionary definitions!).
Whether taxes apply to Bitcoin and other cryptos is thus immaterial -- if you didn't obtain the cryptos as payment from a government, then you never owe taxes on them, regardless of how their value changes against any other currency.
Good luck with that #TaxationIsTheft