Tag Archives: VirtualTransactions

China Goes Where No Man Has Gone Before

Posted on December 11, 2008 by Russ

Two years ago I wrote about the idea of taxing virtual transactions. As I mentioned then the IRS’ view on this is, “That’s so weird.” However, one country looked at this and decided that while it might be weird it’s … Continue reading →

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Taxing the Virtual World

Posted on February 14, 2008 by Russ

Let’s suppose you’re playing an online role playing game such as Second Life. You’ve accumulated quite a bit of virtual property, and have a stash of virtual money. James Doe offers you $5,000 for your virtual money and virtual property—that’s … Continue reading →

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The New York Times Mentions Taxing Virtual Worlds

Posted on December 10, 2006 by Russ

This morning’s New York Times has a brief piece on taxing income producing transactions of virtual worlds. The Times notes that a precedent does exist for taxing such activities: barter. Indeed, back in the 1970s the IRS implemented regulations on … Continue reading →

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Taxing the Virtual World, Redux

Posted on December 6, 2006 by Russ

I’ve previously written about taxing the virtual world. Let’s say you’re playing an online game, one of those that have their own worlds, such as EverQuest or SecondLife. I own Russ’ Gold Depot, and you agree to purchase those 100 … Continue reading →

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Virtual Profits = Taxes?

Posted on January 10, 2006 by Russ

The TaxProf Blog links to an extremely interesting article by Julian Dibbell on whether virtual profits in online multi-player games are taxable under the Internal Revenue Code. There’s also a link to a second article on CNET titled “The Tax … Continue reading →

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