H.R. 8822 proposes a change to the Internal Revenue Code of 1986 that would allow people to pay certain federal taxes using bitcoin. The Secretary is tasked with creating a method for these bitcoin payments, including setting regulations for when payments are received, converting bitcoin to...
Simple Explanation
The bill wants to let people pay some of their taxes using bitcoin, which is kind of like a special digital money. The government needs to figure out how to change this bitcoin into regular dollars quickly and make sure that everybody knows the rules to keep things fair and clear.