Is Your Kid’s Online Gaming Currency Taxable?

tax billWell it almost was!

In some real “news of the weird” from the IRS, they recently removed a piece of guidance from October 2019 that attempted to tax in game currency like Fortnight Vbucks and Roblox’s Robux.

If you don’t know what those are, ask a 12 year old. They are online game currency you can exchange for things in the game, like cooler suits or digital weapons.

The IRS was going to treat these gamer currencies like bitcoin. From a hyper technical standpoint, you can see how that would make some sense. But that isn’t how these “currencies” are used in the real world.

I guess someone with some brains and a pre-teen in their household finally figured out that it was going to be a wee bit of a public relations disaster when a bunch of 13 year old middle schoolers got tax bills.

From a purely entertainment standpoint, I almost wish that had happened.

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