{"id":2283428,"date":"2024-06-25T16:28:01","date_gmt":"2024-06-25T20:28:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/matt-gaetz-introduces-legislation-to-require-irs-to-accept-bitcoin-as-payment\/"},"modified":"2024-06-25T16:29:11","modified_gmt":"2024-06-25T20:29:11","slug":"matt-gaetz-introduces-legislation-to-require-irs-to-accept-bitcoin-as-payment","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/matt-gaetz-introduces-legislation-to-require-irs-to-accept-bitcoin-as-payment\/","title":{"rendered":"Matt Gaetz introduces legislation to require IRS to accept Bitcoin as payment"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmatt-gaetz-introduces-legislation-to-require-irs-to-accept-bitcoin-as-payment%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2283428&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Rep. Matt\u200b Gaetz (R-FL) has introduced a new piece of legislation aimed at the Internal Revenue\u200b Service (IRS). Further details about the contents and implications of the legislation are available through the \u200clinks provided in the description. I don&#8217;t have access to external links or real-time updates, but \u200dI can help explain the typical implications and process related to new legislation proposed\u2063 by a congressman like Rep. Matt Gaetz. When a new bill is introduced concerning the IRS\u2064 or any other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">federal agency<\/a>, it generally aims at reforming certain \u2062aspects of the agency\u2019s operations, modifying its powers, altering funding, or impacting how it enforces laws.<\/p>\n<p>If you provide more specifics about the bill&#8217;s contents, I can offer a more detailed explanation of its implications, what sectors it might affect, and how it aligns with broader policy trends.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_79\">\n<p>Rep. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/matt-gaetz\/\" target=\"_blank\" rel=\"noopener\" title=\"Matt Gaetz\">Matt Gaetz<\/a> (R-FL) introduced <a href=\"https:\/\/gaetz.house.gov\/sites\/evo-subsites\/gaetz.house.gov\/files\/evo-media-document\/GAETZ_244_xml.pdf\" target=\"_blank\" rel=\"noopener\" title=\"legislation\">legislation<\/a> that requires the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/irs\/\" target=\"_blank\" rel=\"noopener\" title=\"legislation\">Internal Revenue Service<\/a> to accept Bitcoin as payment for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/zoom-profits-in-2020-660-million-zoom-tax-payment-in-2021-0\/\" title=\"Zoom Profits in 2020: 0 Million. Zoom Tax Payment In 2021: federal income taxes.\">federal income taxes<\/a>.<\/p>\n<p>In a press release, Gaetz\u2019s move was credited to his recent trip to El Salvador, where he met with President Nayib Bukele. One of Bukele\u2019s first efforts was adopting Bitcoin as legal tender in the country, an embrace that Gaetz wants to recreate in the United States.<\/p>\n<p>\u201cMy groundbreaking legislation will modernize our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-political-activism-and-influence-of-bill-gates\/\" title=\"The Political Activism And Influence of Bill Gates\">tax system<\/a> by allowing federal income tax to be paid with Bitcoin,\u201d Gaetz said. \u201cBy enabling taxpayers to use Bitcoin for federal tax payments, we can promote innovation, increase efficiency, and offer more flexibility to American citizens. This is a bold step toward a future where digital currencies play a vital role in our financial system, ensuring that the U.S. remains at the forefront of technological advancement.\u201d<\/p>\n<p>The legislation comes as part of a trend of growing warmness from Republicans toward cryptocurrency, in contrast with the Biden administration\u2019s skepticism towards it.<\/p>\n<p>Former President Donald Trump is <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/3057290\/trump-courts-cryptocurrency-advocates-talks-speak-bitcoin-convention\/\" target=\"_blank\" rel=\"noopener\" title=\"set to speak\">set to speak<\/a> at the largest Bitcoin event of the year on July 25-27. He has increasingly signaled his support for cryptocurrency in recent weeks.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>\u201cI will end Joe Biden\u2019s war on crypto,\u201d the former president said at a recent rally <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1803182597062668299\" target=\"_blank\" rel=\"noreferrer noopener\">in Wisconsin<\/a>. \u201cWe will ensure that the future of crypto and the future of Bitcoin will be made in America.\u201d<\/p>\n<p>The reversal of his stance on Bitcoin has earned him the support of some cryptocurrency investors, such as the Winklevoss twins.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Matt Gaetz (R-FL) has proposed a bill mandating the IRS to accept Bitcoin for federal tax payments. This initiative follows his visit to El Salvador, where he met President Nayib Bukele, who has implemented Bitcoin as legal tender<\/p>\n","protected":false},"author":2653,"featured_media":2283429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24156540230773.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[4254,8362,4762,32688,10848],"class_list":["post-2283428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-bitcoin","tag-irs","tag-legislation","tag-matt-gaetz","tag-payment"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24156540230773.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2283428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2653"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2283428"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2283428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2283429"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2283428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2283428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2283428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}