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Section of Taxation - americanbar.org
www.americanbar.org2 Executive Summary In 2014, the Internal Revenue Service (the “Service”) issued Notice 2014-21 (the “2014 Notice”),1 addressing the federal income tax treatment of “virtual currencies.” The Section offered comments to the 2014 Notice in a letter dated March 24, 2015.2 Since then, several important developments in the cryptocurrency3 economy have taken place