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U.S. Senate Finance Committee Asks Crypto Industry for Tax Guidance
12.7.2023
The committee sought input from the cryptocurrency industry to better understand the tax challenges presented by digital assets
IRS Updates Crypto-Related Instructions for 2022 Tax Filing
25.10.2022
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New...
IRS Can Now Hunt Down America’s Crypto Tax Evaders After Landmark Ruling
24.9.2022
The Internal Revenue Service (IRS) has received authorization from a U.S. district judge to sniff out individuals who attempt to sidestep taxes on their cryptocurrency transactions. The order comes at a time when digital asset adoption is seeing a surge, and the number of crypto tax evaders...
Crypto couple tells court the IRS has no right to tax newly mined coins
27.5.2021
Coins earned by staking have been “created” and are not taxable until sold according to one couple in the U.S
IRS Updates Tax Requirements for Cryptocurrency Owners
7.1.2021
The U.S. Internal Revenue Service (IRS) has updated its instructions for disclosing crypto activities. The update provides clarification on who must answer “yes” to the IRS’ crypto question and when it is appropriate to select “no” as the answer. IRS Publishes...
Targeted by IRS? What Cryptocurrency Owners Should Know
9.9.2020
The U.S. Internal Revenue Service (IRS) has started sending out new letters to cryptocurrency owners suspected of owing crypto-related taxes. A tax expert has shared with news.Bitcoin.com what crypto owners should know, including how to handle tax letters from the IRS and avoid an audit. How...
Bitcoin Taxation Support Growing Industry – Here are 5 Useful Cryptocurrency Tax Calculators
10.2.2020
For crypto owners looking to estimate how much they owe in taxes, there are some platforms with a free crypto tax calculator. They integrate with major crypto exchanges and wallets, allowing you to import your crypto transaction data and start calculating your taxes for free. Some of them also...