Sponsored a bill on 2024-06-25
Bill Name
To amend the Internal Revenue Code of 1986 to allow the payment of certain Federal taxes with bitcoin.
Details
This bill proposes to amend the Internal Revenue Code of 1986, mandating the Secretary of the Treasury to establish a system allowing individuals to pay federal taxes using Bitcoin. It requires immediate conversion of Bitcoin payments to their dollar equivalent upon receipt and outlines regulations for payment timing, resolution of non-tax matters by intermediaries, and tax matters by the Secretary. The bill also authorizes the Secretary to enter into contracts for services related to processing Bitcoin payments.