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The World’s Weakest Currency, Kiyosaki Says Greenback Is ‘Toast,’ IRS Crypto Tax Update and More — Bitcoin.com News Week in Review
30.10.2022
In this week’s hottest stories from Bitcoin.com News: the Ghanaian cedi’s recent slide to a new low against the USD, Rich Dad Poor Dad author Robert Kiyosaki weighs in on Saudi Arabia’s move to join the BRICS nations, the United States Internal Revenue Service updates tax filing...
A new definition of crypto comes from the IRS — Law Decoded, Oct. 17-24
25.10.2022
IRS broadens the classification of crypto, Ripple gets another point in a case against SEC, and Hong Kong considers its own regulatory framework in opposition to China
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...
US IRS Releases New Reporting Guidelines for Digital Assets
20.10.2022
The US Internal Revenue Service (IRS) has released updated guidelines for reporting digital assets, clarifying the taxation of non-fungible tokens (NFTs) and stablecoins as well.
The IRS’ draft 2022 tax year guide has placed cryptocurrencies, stablecoins, and NFTs into the same category...
Crypto News Summary: Celsius Faces US Federal 'Investigations', IRS Puts Crypto, NFT & Stablecoin in Digital Asset Category, HackNotice Accepts BTC, XMR
19.10.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Crypto News Summary: Celsius Faces US Federal 'Investigations', IRS Puts Crypto, NFT & Stablecoin in Digital Asset...
IRS introduces broader ‘Digital Assets’ category ahead of 2022 tax year
19.10.2022
An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new 'Digital Asset' category
IRS Expands Key US Tax Language to Include NFTs
19.10.2022
Newly released draft instructions for the 2022 tax year change the language from “virtual currency” to broader “digital assets.”
Tax on income you never earned? It’s possible after Ethereum’s Merge
27.9.2022
IRS rules weren’t ready for the Ethereum upgrade. It’s unlikely to become the fiasco that taxpayers experienced when Bitcoin forked in 2017, but there are measures they can take to prepare for whatever the IRS decides
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...
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...
Bahrain's EazyPay Partners with Binance Pay, Compute North Files for Bankruptcy, Tornado Cash Returns to GitHub + More News
23.9.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Bahrain's EazyPay Partners with Binance Pay, Compute North Files for Bankruptcy, Tornado Cash Returns to GitHub + More News
IRS to summon users who don't report and pay tax on crypto transactions
23.9.2022
The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders
23.9.2022
The John Doe summons will require M.Y. Safra Bank to provide information about SFOX customers who used the bank and may owe taxes on crypto transactions
Get ready for a swarm of incompetence at the IRS in 2023
22.9.2022
The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years
Can the government track Bitcoin?
4.9.2022
The law enforcers like the IRS and FBI track Bitcoin with blockchain data and collaborate with private companies in an attempt to trace criminals and taxes
Biden is hiring 87,000 new IRS agents — and they're coming for you
19.8.2022
The Internal Revenue Service is hiring a fleet of new agents. And they’re probably coming for you — regardless of your income level
Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K
18.8.2022
BTC’s $335 million options expiry has become a death trap for bulls, and increased legal action by the SEC and IRS against crypto companies is adding to the sell pressure
Legal Woes: Coinbase Faces New Class Action, IRS Allowed to Investigate SFOX' Customers, Another Objection in SEC-Ripple War
17.8.2022
Major crypto exchange Coinbase faces a new class action suit alleging the company unauthorizedly transfers and freezes funds and locks consumers out of their accounts for extended periods. Meanwhile, the US Internal Revenue Service (IRS) has been granted permission to look into the customers...
IRS takes out John Doe summons on crypto prime dealer SFOX to find tax cheat customers
17.8.2022
The U.S. tax service has used the same tactic to gain information from Circle, Coinbase and Kraken in recent years, as analysis finds that half of taxes on crypto go unpaid
IRS to Serve Summons to Crypto Dealer SFOX Looking for Possible Tax Evaders
16.8.2022
The IRS can serve a "John Doe" summons on crypto prime dealer SFOX, a court ruled Monday, allowing the tax agency to ask SFOX to provide details on any customers who transacted over $20,000 between 2016 and 2021