Internal Revenue Service (IRS) http://www.kunc.org en Colorado's Marijuana Industry Seeks Income Tax Reform http://www.kunc.org/post/colorados-marijuana-industry-seeks-income-tax-reform <p>The deadline to file income taxes is right around the corner. For many businesses, deductions on things like labor and rent help to keep tax bills low. But that’s not the case for marijuana dispensaries in states that have legalized medical or recreational use.</p><p> Fri, 11 Apr 2014 11:00:00 +0000 Grace Hood 55351 at http://www.kunc.org Colorado's Marijuana Industry Seeks Income Tax Reform IRS Says It Will Treat Bitcoins As Property, Not Currency http://www.kunc.org/post/irs-says-it-will-treat-bitcoins-property-not-currency <a href="http://www.irs.gov/pub/irs-drop/n-14-21.pdf">In a new rule released on Tuesday</a>, the Internal Revenue Service says it will treat bitcoin and other virtual currencies as property.<p><a href="http://online.wsj.com/news/articles/SB10001424052702303949704579461502538024502?mod=WSJ_hp_LEFTWhatsNewsCollection&mg=reno64-wsj">The Wall Street Journal reports</a> this means any profits made on the currency will be taxed at the capital-gains rate and that investors will have to keep extensive records.<p>The <em>Journal</em> adds:<p><blockquote><p>"The announcement in general was expected to b Tue, 25 Mar 2014 19:29:00 +0000 Eyder Peralta 54921 at http://www.kunc.org IRS Says It Will Treat Bitcoins As Property, Not Currency Same-Sex State Tax Bill Passes House, Heads To Governor http://www.kunc.org/post/same-sex-state-tax-bill-passes-house-heads-governor <p>Having passed its third and final reading in the Colorado House, <a href="http://www.leg.state.co.us/CLICS/CLICS2014A/csl.nsf/fsbillcont3/480C36805CEC7DA187257C300005E032?Open&amp;file=019_rev.pdf">Senate Bill 19</a> now only awaits the Governor’s signature. &nbsp;The bill allows same-sex couples residing in Colorado and married in one of the 17 states and the District of Columbia where same-sex marriage is legal to file joint state taxes.</p><p> Mon, 17 Feb 2014 20:50:56 +0000 Nathan Heffel 54118 at http://www.kunc.org Same-Sex State Tax Bill Passes House, Heads To Governor IRS Official At Center Of Political Scandal Will Retire http://www.kunc.org/post/irs-official-center-political-scandal-will-retire Lois Lerner, the Internal Revenue Service official who ran the division engulfed in a scandal over special scrutiny of Tea Party and patriot groups seeking tax exemption, will retire.<p>The IRS announced Monday that Lerner would step down after being placed on paid leave in May. Mon, 23 Sep 2013 20:29:00 +0000 Scott Neuman 49955 at http://www.kunc.org IRS Official At Center Of Political Scandal Will Retire IRS To Count Automatic Gratuities As Wages, Not Tips http://www.kunc.org/post/irs-count-automatic-gratuities-wages-not-tips Gratuity included? A new IRS rule could end, or at least curtail, the practice.<p>The Internal Revenue Service will soon begin classifying automatic gratuities as service charges that are taxable as regular wages and subject to payroll tax withholding. Thu, 05 Sep 2013 16:24:00 +0000 Scott Neuman 49237 at http://www.kunc.org IRS To Count Automatic Gratuities As Wages, Not Tips