Last updated: January 12, 2009 - 10:08pm
[Commentary] The Internal Revenue Service should start taxing the fledgling virtual economy in Second Life, World of Warcraft, and other virtual worlds according to Taxpayer Advocate Nina Olson. In her annual report published on the IRS website, Olsen said that there are still a number of issues that the IRS should "proactively address" before they get out of control. And now that it's on the IRS' radar, it's likely only a matter of time before Uncle Sam tries to figure out some way to get a cut of your gold. A number of virtual worlds involve the trade of real money for various virtual products and services inside of the game(s). And wherever people are spending money, someone is making it. Entrepreneurs are making fat cash off the sale of virtual land, clothing, sex toys, and everything in between in Second Life and other games, and now Olson wants the IRS to go after them.
- U.S. Lawmaker Opposes Taxing Online Virtual Economies
- FTC Virtual Worlds Report Due Dec. 10
- Cell phones and virtual worlds morphing shopper ways
- Meet The Video Game Lawyers
- Can Web-based worlds teach us about the real one?
- Foundation With Real Money Ventures Into Virtual World
- Future of the Internet III: Experts and analysts assess the future of the Internet in a new survey
- Forecast: A brisk year for global media
- The Call for a Wireless Bill of Rights
- LightSquared's savior: Ted Olson?
- Hardening Our Defenses Against Cyberwarfare
- FTC Report Finds Sexually and Violently Explicit Content in Online Virtual Worlds Accessed by Minors
- The Superfast and the Furious: Priorities for the future of UK broadband policy
- FCC to unveil sweeping proposal for broadband
- Antiwar Protester Disrupts Inquiry as Blair Testifies