2019 IRS Crypto Tax Guidance is Subject to Change, GAO Warns
The IRS’ guidelines on crypto tax reporting remain unclear, and may not be binding, per the analysis of the Government Accountability Office (GAO). Crypto Tax Reporting...
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...
UK Tax Office Updates Guidance on Bitcoin and Crypto
Nearly a year after publishing updated bitcoin and crypto tax requirements for individuals, the UK tax body has released similar guidelines for businesses. The tax authority also...
Cryptocurrency Tax Reporting Just Got A Lot Easier with TurboTax
CryptoTrader.Tax partners up with Tax Software giant Intuit TurboTax to bring cryptocurrency tax reporting into the mainstream CryptoTrader.Tax, a cryptocurrency tax software...
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 2018, Says Bittax CEO
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 Filings for 2019
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 Taxes
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 Crimes
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...