In the absence of a third-party processing intermediary, transactions are rapid and simple to send and receive with little to no fees.

FORBES: Bitcoin Foundation Launches To Drive Bitcoin's Advancement

Concerns over how best to report and reconcile items on the form 1099-K have plagued retailers and individuals alike since legislation was passed by Congress in 2008 requiring the issuance of forms 1099-K for third party merchant and credit card payment processing which meets certain criteria.

FORBES: IRS Continues to Weigh In on New Credit Card Reporting Requirements

Tea-party groups complained often to lawmakers last year about excessive IRS scrutiny in processing their 501(c)(4) applications.

WSJ: IRS Apologizes for Scrutiny of Conservative Groups

Tea-party groups have complained often to lawmakers about IRS scrutiny and delays in processing their applications for 501(c)(4) status.

WSJ: IRS Apologizes for Scrutiny of Conservative Groups