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The Internal Revenue Service isn't all about taking your money. It's also about saving you money by foregoing NASCAR sponsorships in favor of a virtual presence in Second Life. More »
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The IRS' taxpayer advocate has suggested the agency take a proactive posture toward real money transactions (RMT) in virtual worlds. "Proactive posture," in IRS speak, means "tax it." More »
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The Entertainment Software Association paid more than $5 million last year to stop hosting their annual trade show in Los Angeles, only to bring their new, downsized show back to the city a year later, according to IRS documents obtained by Kotaku. More »
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Sony Online Entertainment launched the Station Exchange back in 2005 as an officially sanctioned player auction site meant to profit from combat the ever-growing gold and character black-market in EQ2. No one was sure how popular the site would be, seeing as only certain Everquest II servers would be Exchange-enabled. Well nearly two years later SOE has published a white paper detailing the first year of transactions, which reports a whopping $1.8 million in transactions over the period. The paper includes all sorts of statistics, from highest priced items (dark elf characters) to average platinum prices ($7.35 per piece.) More »
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Over at Terra Nova they link to a piece in Legal Affairs that says the IRS is considering trying to find a way to charge people for virtual commerce. No, I don't mean using IGE, I mean taxing you on that gold you made for selling an Arcanite Reaper. Because the real world value of gold can be quantified, selling an item for 1000 gold, which has a value of (for the sake of argument only) $60. The IRS' thinking is this: "Goods taken in trade or won at play are taxable the moment they fall into somebody's hands, even if they are not sold for money." More »
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