The government requires that all employers file and pay their taxes in a timely manner. This includes making federal tax deposits and filing an annual 940 or 940EZ, filing quarterly 941 forms, filing annual 945 forms, and filing annual W-2 wage and tax statements for each employee.
IRS Updates on Treatment of Virtual Currency
While continuing to treat virtual currency as a capital asset, in Notice 2014-21, 2014-16 IRB 938, the IRS speaks to its equivalent value in real currency and its treatment. On October 9, 2019, the IRS issued Rev Rul 2019-24, 2019-44 IRB, Among other items, the IRS noted that: