BitCoin Mining, Other Virtual Activity Taxable Under US Law
chicksdaddy writes "Beware you barons of BitCoin – you World of Warcraft one-percenters: the long arm of the Internal Revenue Service may soon be reaching into your treasure hoard to extract Uncle Sam's fair share of your virtual wealth. A new Government Accountability Office (GAO) report on virtual economies finds that many types of transactions in virtual economies – including Bitcoin mining and virtual transactions that result in real-world profit – are likely taxable under current U.S. law, but that the IRS does a poor job of tracking such business activity and informing buyers and sellers of their duty to pay taxes on virtual earnings. The report, 'Virtual Economies and Currencies: Additional IRS Guidance Could Reduce Tax Compliance Risks' found that the growing use of virtual currencies like BitCoin and virtual game currencies warrants the U.S.'s tax collection agency to mitigate the risks. Those include efforts to educate taxpayers and the publication of basic tax reporting ...
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Fear And Loathing OF Silicon Valley
Welcome to the Summer of 2013. Welcome to the summer when you’re not quite sure which of your Internet activities are being tracked. When you want to start Snapchatting everyone because at least then data “disappears.” Except when it doesn’t. This is the summer when, despite the machinations being clearly reported last year and even over a decade ago, revelations of the NSA doing some sort of link and factor analysis, or at the very least metadata collection, on our Facebook and Google+ profiles has caused us to reach peak tech fear. There have been foreshocks all Spring. The violent re-emergence of Valleywag; the unfortunate and erroneous abstraction of Sean Parker’s wedding, which, for all intents and purposes, should be a private event, into a symbol of Silicon Valley “excess”; the breathless coverage in alternative publications of our bacon-wrapped ways; and even the New Yorker weighing in, again and again. Paul Krugman and others are predicting the techpocalypse, or ...
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Why Was Apple Late To The PRISM Party?
If there’s one striking thing about those PRISM slides, other than their hideous aesthetics, it’s that Apple’s allocated yellow oval, instead of a date, has the words “(added Oct 2012)” underneath it. That difference is most striking when you consider the fact that Apple competitor Microsoft cooperated with the government a full five years earlier. The company, which denies ever having heard of PRISM, released its FISA request numbers today, starting on December 1st, 2012, through this May 2013. Though it’s plausible that the government would not have disclosed the name of the program, the NYT confirmed Apple’s participation in a government surveillance network designed to make data collection more efficient for the NSA — whatever that entails, like “a broad sweep for intelligence, like logs of certain search terms.” From Claire Cain Miller’s article: While handing over data in response to a legitimate FISA request is a legal requirement, making it easier for the government ...
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“Truth Is Coming, And It Cannot Be Stopped”: The Best Of Edward Snowden's Q&A
The most famous man on the lam, NSA whistleblower Edward Snowden, has answered reader questions in a live Q&A on the Guardian’s blog. Snowden skyrocketed to international fame/infamy after leaking a top-secret court order about the National Security Agency’s collection of all U.S. Verizon phone records. After disappearing from his Hong Kong hideaway, Snowden resurfaced for the online Q&A. You can read the full transcript on The Guardian; we’ve summarized the best of it below (edited for brevity and clarity). Passion, Righteous Passion “All I can say right now is the US Government is not going to be able to cover this up by jailing or murdering me. Truth is coming, and it cannot be stopped.” On Tech Company Denials “Their denials went through several revisions as it become more and more clear they were misleading and included identical, specific language across companies….They are legally compelled to comply and maintain their silence in regard to specifics of the program, ...
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KDE 4.11 beta brings Wayland support to KWin
The first beta of version 4.11 of the KDE Software Collection, also referred to by its actual version number of 4.10.80, has been released and brings experimental Wayland support to KWin and more Qt Quick in Plasma Workspaces
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