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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
US IRS Comes After Clients of Another Crypto Exchange
11.8.2022
In a tax-related effort, the US Internal Revenue Service (IRS) is asking permission to look into the customers of crypto prime dealer SFOX Inc. and its partner.
The service responsible for collecting taxes is seeking to do just that – collect taxes, but this time it’s searching to identify...
IRS Expands Crypto Question on Tax Form
5.8.2022
The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form 1040...
Three Arrows Reprimanded by Singapore, Crypto AUMs at Record Low, N Korean Hackers + More News
30.6.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: Three Arrows Reprimanded by Singapore, Crypto AUMs at Record Low, N Korean Hackers + More News
US govt delays enforcement of crypto broker reporting requirements: Report
29.6.2022
The reporting requirements, aimed at reducing the size of the tax gap, were scheduled to take effect in January 2023, with crypto firms sending reports to the IRS starting in 2024
Coin Center Attempting to Sue US Treasury, IRS Over ‘Unconstitutional’ Infrastructure Act
13.6.2022
The Washington-based crypto industry pressure group Coin Center says it has filed a lawsuit against the United States Treasury Department and the Internal Revenue Service – claiming that the crypto tax reporting requirements included in President Joe Biden’s Infrastructure Investment and Jobs...
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600
10.6.2022
Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through...
Here's What US Senators Put in New Crypto-Friendly Bill
7.6.2022
In a bipartisan effort to pave the way for more crypto-friendly regulations in the US, Wyoming Republican Senator Cynthia Lummis and Democratic senator representing the state of New York, Kirsten Gillibrand, are set to introduce a new draft bill today, dubbed the 'Responsible Financial...
Want to Dodge Your Crypto Tax? Learn the Risks From Koinly
15.4.2022
In recent years, the IRS has made one thing abundantly clear – if you make money from crypto, they want their cut. So if you’re underreporting or outright avoiding crypto taxes, be warned: the penalties are steep. Before you take the wrong turn, learn the risks from crypto...
3 Crypto Tax Tips to Avoid IRS Trouble
11.4.2022
Crypto investors filing their taxes must know how to track cost basis, maintain good records of all original purchases and transactions, and report everything in USD terms
Need to File Fast? Follow This No-Nonsense Guide From Koinly
11.4.2022
Left your crypto taxes until the last second? Here’s how to get your crypto taxes done by April 18 with the least amount of friction possible. The IRS has been really clear that cryptocurrency is definitely taxed – and that they’re able to track crypto investments through various channels....
Can the IRS Track Bitcoin? Koinly Explains
6.4.2022
The IRS might not be the best at keeping ahead of the crypto curve, but if you think you can hide your Bitcoin gains – think again. Crypto tax calculator Koinly is here to explain just how the IRS can track your crypto. Got gains or income from crypto? The IRS would like their cut, […]
Walking the Crypto Tax Tightrope in US
1.4.2022
Co-Authored by Jaideep Singh, CEO of AI-powered, SaaS platform FlyFin, Luke Olson, CPA, and Sridevi Yathirajyam, EA, FlyFin.
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Read More: Walking the Crypto Tax Tightrope in US
Crypto donation startup launches IRS form as US tax season loom
29.3.2022
Nonprofits are required to file IRS Form 8282 for crypto donations of $500 or more if donated funds are exchanged for the U.S. dollar
What’s at Stake as Josh Jarrett Sues the IRS
24.3.2022
The Proof of Stake Alliance advocates for staking rewards to be treated as property, not income
Tezos Staking Couple Ramps Up Pressure on US IRS with New Legal Brief
16.3.2022
A case involving the US Internal Revenue Service (IRS) and its alleged attempt to refund a couple’s tezos (XTZ) crypto staking tax bill could come to a head after one of the duo pushed for a “definitive ruling” that could change the way staking is taxed in the United States....
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Cointelli Makes It Easy to Report Coinbase, Binance, and Kraken Transactions to the IRS
8.3.2022
Many crypto exchanges send tax forms to the IRS, each with their own list of supported tokens and info that doesn’t necessarily match up. This can create a lot of confusion for U.S. taxpayers. Luckily, Cointelli can swiftly and reliably create a unified tax report with the push of a button....
How to navigate cryptocurrency tax implications amidst the CPA shortage
8.3.2022
High demand for CPAs has left many to fend for themselves when it comes time to figure out the complex tax landscape marked by virtual currencies
IRS Comes for Crypto John Does, Bitcoin Mining Difficulty Drops, Complex Apps on Algorand + More News
3.3.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: IRS Comes for Crypto John Does, Bitcoin Mining Difficulty Drops, Complex Apps on Algorand + More News
Blockchain forensics is the trusted informant in crypto crime scene investigation
26.2.2022
As mainstream adoption of crypto increases, blockchain forensics is enabling law enforcement to recover stolen crypto, making the space more secure