Section 1 Payment of certain taxes by bitcoin
“6316A. Payment of certain taxes by bitcoin
“(a) In general—The Secretary shall develop and implement a method to allow for the payment with bitcoin of any tax imposed on an individual under this title.
“(b) Regulations—The Secretary shall prescribe such regulations as the Secretary deems necessary to receive payment by bitcoin, including regulations that—
“(1) specify when payment by such means will be considered received,
“(2) require the immediate conversion of any bitcoin amount received to its dollar equivalent at the conclusion of any transaction,
“(3) identify types of nontax matters related to payment by such means that are to be resolved by persons ultimately liable for payment and financial intermediaries, without the involvement of the Secretary, and
“(4) ensure that tax matters will be resolved by the Secretary, without the involvement of financial intermediaries.
“(c) Authority To enter into contracts
“(1) In general—The Secretary is authorized to enter into contracts to obtain services related to receiving payment by bitcoin.
“(2) Fees—Rules similar to the rules of paragraph (2) of section 6311(d) shall apply, determined without regard to the first sentence of such paragraph.
“(d) Ultimate liability; liability of banks; confidentiality—Rules similar to the rules of subsections (b), (c), and (e) of section 6311 shall apply.”