I don't see a problem here.
Bitcoin for tax payments?Arizona could become first state in US to allow it.
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Bitcoin for tax payments?Arizona could become first state in US to allow it.
Arizona could become the first state in the country to accept payments from the volatile Bitcoin digital currency for taxes, thanks to a bill advancing through the Legislature.
Sen. Warren Petersen, R-Gilbert, is sponsoring Senate Bill 1091.
The bill would allow income taxes to be paid in Bitcoin or other cryptocurrency approved by the Arizona Department of Revenue starting in 2020.
The revenue department would be required to convert such payments to U.S. currency at the prevailing rate, crediting the taxpayer's account with the converted dollar amount. Therefore, any swing in price that resulted in the state not getting the full payment would be the responsibility of the taxpayer.
It passed the Senate Thursday and has moved to the House for consideration.
I'm sure he's just wanting to pay his income tax.