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Paying Federal Taxes with Bitcoin: New Digital Payment Option.

This bill allows individuals to use Bitcoin to pay certain federal taxes, introducing a new digital method for citizens to fulfill their tax obligations. The IRS must create a system that immediately converts the received Bitcoin into its dollar equivalent upon payment. This change aims to modernize payment options for taxpayers.
Key points
Individuals will be allowed to pay federal taxes directly using Bitcoin.
The IRS must immediately convert all received Bitcoin into US dollars after the transaction is completed.
The new payment option will become available one year after the law is enacted.
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Expired
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Additional Information
Print number: 118_HR_8822
Sponsor: Rep. Gaetz, Matt [R-FL-1]
Process start date: 2024-06-25
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to allow the payment of certain Federal taxes with bitcoin.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8822.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-06-25.

What are the main provisions?

Key points include:

  • Individuals will be allowed to pay federal taxes directly using Bitcoin.
  • The IRS must immediately convert all received Bitcoin into US dollars after the transaction is completed.
  • The new payment option will become available one year after the law is enacted.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gaetz, Matt [R-FL-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy