Now that cryptocurrencies are being used more and more, it's natural that taxing authorities want a piece of the action. US citizens have always had to declare income wherever they live and from all sources worldwide. This is just another source but how do you track the cost so you don't wind up declaring everything as income when there is an expense that should be deducted? This will be examined in future posts and meanwhile, if you need tax help, no matter where you live, please feel free to contact me and/or sign up for the free notice service.
Also, FBAR reports are in transition now and the deadline this year has been extended for everybody until October 15th and there is no need to request an extension as it's automatic. So, you don't have to have them done the day after tomorrow, after all.
If you need help with the FBAR, I can help you there as well.
Plus, now, I will accept cryptocurrency in lieu of US Dollars or Chilean pesos. Let's make a deal!