U.S. Tax Collector Is After Thousands of Bitcoin Holders
U.S. tax authority, the Internal Revenue Service (IRS) has already begun sending letters to thousands of bitcoin and crypto holders who have failed to report cryptocurrency...
Bitcoin Taxes: 61% of Holders Won’t Report Losses to IRS
The US tax season has begun, and this might finally be the year to declare your bitcoin and crypto-assets. Sure, bitcoin taxes can be complicated, but research suggests that 61% of...
Expect ‘Large increase’ in Cryptocurrency Taxes Filed for...
Bitcoinist spoke with Gidi Bar Zakay, CEO and founder of Bittax at the recently held Israel Bitcoin Summit in Tel-Aviv about cryptocurrency tax obligations for users and how the...
UK Gov’t Unveils Cryptocurrency Tax Guidelines For Individuals
Her Majesty’s Revenue and Customs (HMRC) yesterday released a policy paper, detailing cryptocurrency tax guidelines for individuals. The good news is that no new punitive tax...
Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax...
With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in...
Student Turns $5K into $800K Trading Crypto, But Now Owes $400K in...
One college student turned his $5K investment into $880k but now says trading “ruined” his life as he’s facing $400k in cryptocurrency taxes. From Big Profits to a...
South Africa Releases Draft Cryptocurrency Tax Law
The South Africa Revenue Service (SARS) recently released a draft cryptocurrency tax legislation. The draft defines the framework of virtual currency taxation in the country. Details...
IRS Launches International Effort to Investigate Cryptocurrency Tax...
The United States Internal Revenue Service (IRS) is taking cryptocurrency tax compliance to the international stage, joining tax authorities from four other nations to form a coalition...
South Korea: Reports of 10% Tax on Cryptocurrency Gains Are Fake
South Korea’s Ministry of Finance has denied reports of 10% income tax on cryptocurrency investments. 10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the...
Canada: ‘No Tax Changes’ For Bitcoin As Govt. Unveils...
Canada has unveiled a government Blockchain identity prototype while declining to change Bitcoin tax rules at the World Economic Forum (WEF) 2018. ‘We Don’t Plan Any...
Internal Revenue Service (IRS) Asked to Provide a Clearer...
At least two US institutions have requested that the IRS propose a definitive structure for taxing cryptocurrencies in the country. As authorities see the lucrative appeal of virtual...
Russian Ministry of Labor: No Tax on Bitcoin for Government Officials
Russian civil servants will not need to declare cryptocurrency gains in this year’s income tax report, the government has suggested. Russia Still Lacks Legal Framework For Tax...