IRS Crypto Prosecutions Set to ‘Skyrocket’, Says US Tax Law Firm
The US Internal Revenue Service (IRS) is expected to ramp up its cryptocurrency-related enforcement actions, a tax law office warns. US Revenue Agency Looking to Crack Down on Crypto...
IRS Removes Crypto Tax Reporting for Fortnite and Other Game Tokens
The U.S. Internal Revenue Service (IRS) has updated its webpage, removing parts of its crypto tax disclosure guideline which classified game tokens as cryptocurrencies. This includes...
Crypto Group Asks IRS to Make Small Payments Tax-Free
The Wall Street Blockchain Alliance is the latest to ask the U.S. Internal Revenue Service (IRS) to consider a ‘de minimis’ exemption for crypto tax payments below a specific...
Beware of the IRS, H&R Block Warns its Crypto Customers
U.S. tax preparation company H&R Block is advising its customers not to consider evading the Internal Revenue Service (IRS) by not reporting their cryptocurrency transactions ...
IRS to Limit Probe into Coinbase User, US Court Advises
The U.S. Internal Revenue Service (IRS) could be made to restrict its crypto tax probe of Coinbase user William Zietzke to cover only 2016. IRS Should Restrict Zietzke Crypto Tax Probe...
IRS Targets Crypto Trading and Gig Economy for 2020 Tax Season
The U.S. Internal Revenue Service (IRS) is directly focusing on crypto trading for the 2020 Tax Day with a checkbox on the tax form enquiring after people’s involvement in virtual...
Why Canada’s Crypto Industry is Threatened by Tax Rules
Canadian tax authorities’ approach to crypto-assets might discourage the country’s citizens from using digital assets, as things like double taxation remain an issue. While...
Crypto Tax: De Minimis Exception Could Complicate Things for IRS
A provision for de minimis exception in crypto taxes could lead coin holders to manipulate the system while burdening IRS further. The US Internal Revenue Service recently published...
IRS Playing Fair With Transparent Crypto Tax Filings
Contrary to its portrayed draconian stance on crypto taxes, the US Internal Revenue Service is playing fair. Exercising transparency in reporting numbers is the key, and may save...
Gemini Exchange Adds Automated Customer Tax Reporting
US-based crypto exchange Gemini wants to help its users comply with the tax requirements in a convenient manner. The company hired Sovos to modernize its tax information reporting. The...
Cryptocurrency Might Be Treated as Treasure Under Russia’s Tax Code
Russia might implement an interesting tax method. Local media reported that the Association of Banks of Russia proposes a tax on cryptocurrency mining that is equivalent to the tax on...
$25 Billion Owed in Crypto Taxes Causing ‘Massive’ Selling, Wall Street Analyst Says
‘Massive’ selling of cryptocurrencies into fiat by mid-April to be expected, as U.S. crypto holders ‘likely’ owe $25 billion in capital gain taxes according to Tom Lee, head of...