IRS needs to keep closer eye on bitcoin: watchdog

The IRS isn’t doing enough to monitor the use of virtual currency, the agency’s inspector general said in a report Tuesday. There is “little evidence of coordination” between different parts of the Internal Revenue Service on policing virtual currencies such as bitcoin, according to the Treasury inspector general for tax administration. As with cash, the…

This tax hike would raise $120 billion to expand and fund rail network and highway projects in L.A.

Toward the bottom of Tuesday’s ballot — past the presidential candidates, the U.S. Senate race and the long list of statewide propositions — is a half-cent sales tax proposal that would fund the most ambitious transit expansion in Los Angeles County history. Measure M would generate an estimated $120 billion over four decades for Metropolitan Transportation Authority…