A bitcoin payment for a small purchase can have an investment gain or loss on that purchase under the IRS's existing tax treatment. This is an onerous reporting requirement.

Annette Nellen, a professor at San Jose State University, who helped draft the institute's request, said the AICPA wants to know the tax rules before they become audit issues.

Bitcoin Usage Grows

The number of daily bitcoin transactions has increased to 240,000 from 50,000 two years ago, according to Blockchain.info. Due to this growth, the IRS has conducted audits of bitcoin holders, according to Bryan Skarlatos, a tax lawyer at Kostelanetz & Fink in New York.

An IRS spokesperson declined to comment except to say the agency values input from tax professional organizations.