‘Fortnite’ users subject to tax on in-game currency? IRS confuses taxpayers

Fox Business | Feb 14, 2020 at 6:41 PM
  • Massive numbers of people in the U.S. who play the online video game “Fortnite” may have gotten a tax scare from the IRS.
  • The agency previously listed Fortnite’s in-game currency – known as V-bucks – as an example of a “convertible virtual currency,” which it defined as a “virtual currency that has an equivalent value in real currency.
  • Taxpayers who fail to pay the taxes they owe on their virtual currency transactions can be subject to penalties and interest – in more serious cases even criminal prosecution.