Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework
News

The IRS Says Crypto is Currency, Warns Against Tax Evasion

The Internal Revenue Service (IRS)  — the United States’ tax collection agency who administers the Internal Revenue Code enacted by Congress — once again provided taxpayers...

Adam James | 1 year ago
5 Altcoins with Major Events the week of April 1, 2018 (Gains Likely to Beat BTC Returns!)
Altcoins

G20 Set to Determine if Cryptocurrencies Should be Defined as Assets

Cryptocurrencies, or at least defining the term, seem to be a hot topic at the current G20 summit. In fact, it seems that the group is pushing to define them as assets and not...

Nikita Blows | 1 year ago
News

Coinbase Gives IRS More Than 10K Users’ Information

After fighting the IRS in court, popular digital currency marketplace Coinbase has been ordered by the Northern District of California to turn over more than 10,000 users’...

Adam James | 2 years ago
South Korea Claims $28M Tax From Bithumb But Finds No 'Illegal Activity'
News

IRS Stymied Over American Cryptocurrency Traders’ Reluctance to...

As cryptocurrency investors continue to see gains, it appears they’re also continuing to stay quiet about their earnings to avoid taxation from the IRS. Where are the American...

Patrick Smith | 2 years ago
News

Does the IRS Fear Bitcoin?

An op-ed in the New York Times theorizes that the IRS fears Bitcoin due to tax evasion. What actions could the IRS take to combat this? The Internal Revenue Service (IRS) is one of the...

Jeff Francis | 2 years ago
Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework
News

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...

Nikita Blows | 2 years ago
trump bitcoin
News

Trump Administration Considering Regulating Bitcoin

As Bitcoin and other cryptocurrencies continue to rise in both value and popularity, national governments are starting to scrutinize them more. Case in point is that the Trump...

Jeff Francis | 2 years ago
News

Coinbase ‘Unprecedented Victory’ Sees 14k Transactions...

An “unprecedented victory for the industry” is how Coinbase describes the likely culmination of its year-long legal battle with US tax authorities this week. $20k Or Nothing, Court...

Wilma Woo | 2 years ago
IRS
News

IRS Not Happy with ‘Reporting Gap’ from Coinbase Users

The IRS is vigorously pursuing its case against Coinbase as it announces a “reporting gap” where only 0.2% of Coinbase users reported a loss or gain on their cryptocurrency...

Jeff Francis | 2 years ago
News

Using Bitcoin to Buy Things Could Trigger IRS Tax Bill

Using Bitcoin to buy everyday things, such as a burger, could trigger a tax bill from the IRS due to cryptocurrency being considered property. However, there is potential relief on the...

Jeff Francis | 2 years ago
IRS bitcoin tax
Bitcoin

IRS Hopes to Catch Bitcoin Tax Cheats With Blockchain Tracking...

The IRS is hoping to use the Reactor software by Chainalysis to track Bitcoin movement from wallet to wallet and then to exchanges in order to catch tax cheats. For some peculiar...

Jeff Francis | 2 years ago
Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework
News

Judge Slams IRS, Allows User to Challenge Case on Coinbase

In a contentious ongoing case between the IRS and Coinbase, a user of the exchange was granted the right to contest the governmental agency’s sweeping call for private...

Darryn Pollock | 2 years ago

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