The IRS has removed all references to video game currency taxes in its guidelines. In October, the IRS published a new set of rules covering the reporting and paying of taxes on virtual currencies, which included the in-game funny money you use to buy frying pan hats or gold skins for your guns. Two popular examples in particular can be seen in the old web page captured by Archive.org.
“Bitcoin, Ether, Roblox, and V-bucks are a few examples of a convertible virtual currency.”
According to CNN, this section was quietly reworded yesterday to the relief of parents everywhere. Don’t sigh too loudly though. Experts believe that due to the massive amounts of revenue these games generate, it’s only a matter of time before real legislation tries to capture some of that virtual green.