Tuesday, December 05, 2006

IRS Eye up Virtual Taxes

With so many stories of people making money out of selling virtual items in MMOs these days it was inevitable that sooner rather than later the lovely people, who we respct and admire lots, at the IRS would start to cast an eye over proceedings and start to wonder if they could join in the money making fun. Only at your expense.

"Given growth rates of 10 to 15 percent a month, the question is when, not if, Congress and IRS start paying attention to these issues," said Dan Miller, a senior economist with the Congress' Joint Economic Committee, who is also a fan of virtual worlds. "So it is incumbent on us to set the terms and the debate so we have a shaped tax policy toward virtual worlds and virtual economies in a favorable way."

Crazy, huh? Read the full story here

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