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US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
26.9.2022
The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party...
Crypto tax 'a top enforcement priority,' reminds IRS commissioner
28.9.2021
IRS Commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands
10.7.2021
On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service...
IRS Seeks Congressional Authority to Obtain Data on Cryptocurrency Transactions
8.6.2021
The U.S. Internal Revenue Service (IRS) says it needs congressional authority in order to obtain the information needed to regulate cryptocurrency. “We get challenged frequently and to have a clear dictate from Congress on the authority for us to collect that information is critical,”...
Bitcoin Investor Sues IRS for Unlawful Seizure of Financial Records at 3 Crypto Exchanges
16.7.2020
Bitcoin investor Jim Harper has sued the U.S. Internal Revenue Service (IRS), its commissioner, and a number of federal agents. He alleged that they unlawfully seized his private financial information from three cryptocurrency exchanges. Bitcoin Investor vs. IRS Bitcoin investor Jim Harper...
Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event
5.8.2019
The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters...
10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS
27.7.2019
On July 26, the U.S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August....
Node40 Executive Explains What to Expect When the IRS Issues Its New Crypto Policy
27.6.2019
Last May, the U.S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance. This...
IRS Plans to Issue Guidance on Virtual Currency Taxation
21.5.2019
Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official...