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IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In
10.10.2019
The U.S. Internal Revenue Service (IRS) has issued long-awaited guidance on the tax treatment of cryptocurrencies. It is generally described by the crypto community as a mixed bag since some parts are useful while others have raised many more questions, particularly how cryptocurrencies from hard...
Picking out Positives from the (Perplexing) New Crypto Tax Guidelines
10.10.2019
The Internal Revenue Service (IRS), America’s top tax authority, has issued a new set of guidelines on cryptocurrency taxation.
And although many are bemoaning the new rules for a lack of clarity among other matters, there are a few silver linings to be found in the IRS’ press release, a new crypto...
How to Reduce Your Crypto Tax Bill by Taking Out a Crypto-Back Loans
25.8.2019
The crypto lending market has been experiencing an increasing interest in the past 12 to 18 months. More and more HODLers are using their digital asset holding as collateral for fiat currency loans. While the reasons to take out loans are myriad, one of the biggest arguments for taking out...
These Portfolio Tracking Tools Will Also Prepare Your Crypto Taxes
16.8.2019
Tax season is months away, which is why you need to start preparing for it now. Leave everything to the last minute and you’ll only end up cursing your procrastination. Organize your cryptocurrency activity in advance and you’ll breeze through tax deadline day without so much...
What to Do if You Just Got a Crypto Tax Letter from the IRS
15.8.2019
Have you just woken up to find a letter from America’s top tax authority, the Internal Revenue Service (IRS) in your mailbox, asking you to pay tax on your crypto earnings… and come to the sad realization that you’re not having a nightmare?
Scores of American cryptocurrency traders have received...
Is Crypto Tax Coming to Brazil’s Richest State?
14.8.2019
The state parliament of São Paulo, in Brazil, is set to vote on the introduction of a tax on cryptocurrencies, with a private member’s bill making rapid progress through the legislature.
The state’s parliamentary gazette reports that the bill is now at its final committee stage.
The bill was...
US Committee to Debate Crypto Tax Reform, Indians ‘Face Questionnaire’
8.8.2019
Politicians and tax regulators around the world are continuing to struggle with the thorny issue of cryptocurrency taxation – with a congressional financial committee set to debate a “tax fix” act on crypto tax in the United States and Indian authorities reportedly grilling crypto holders with...
Crypto Tax Bill Introduced in the US House of Representatives
7.8.2019
A U.S. lawmaker has introduced a bill that, once law, would free up cryptocurrencies from double taxation under current regulations
North Carolina Congressman Reintroduces Crypto Tax Bill
7.8.2019
Reintroduced cryptocurrency tax legislation is taking aim at the IRS's current code
Russian Lawyers Draw up Pro-Crypto Tax Plans
1.8.2019
An influential group of Russian lawyers has drawn up a system for cryptocurrency taxation that involves granting property rights to holders of “all tokens” – and will be sending its suggestions to the lawmakers and regulators.
Per media outlet Kommersant, the Association of Lawyers of Russia...
New Singapore Crypto Tax Rules Could Help it Compete with Hong Kong
29.7.2019
Cableway trip in Sentosa Island, Singapore. A PwC analyst says that new tax regulations could provide cryptocurrency exchanges and initial coin offering (ICO) issuers based in Singapore with a boost as the country chases down Hong Kong.
Both Hong Kong and Singapore have been wooing Asian...
US Lawmaker Reintroduces ‘Safe Harbor’ Crypto Tax Bill in Congress
10.7.2019
U.S. Congressman Tom Emmer has reintroduced his forked assets bill, an effort started in 2018 ostensibly to lessen the burden on crypto tax payers
Japanese Parliamentarian Wants Tokyo to Cut Crypto Tax
2.7.2019
Takesi Fujimaki. Source: Twitter / @fujimaki_takesi
A Japanese parliamentarian wants to bring about cryptocurrency tax reform – and tabled a petition on the matter with both houses of parliament.
Takesi Fujimaki, a former advisor to George Soros and an ex-JPMorgan Chase employee, is currently...
Tax Agency: ‘Risk of Crypto Tax Non-compliance Is High in Canada’
14.6.2019
The Canada Revenue Agency (CRA), the country’s leading tax authority, has suggested that cryptocurrency taxation clampdowns are on their way. The agency hinted that individuals and businesses across the country will need to fall in line with compliance regulations – or potentially face...
Australia to Crack Down on Crypto Tax Avoidance Schemes
7.6.2019
The Australian Taxation Office is hunting down major tax avoidance schemes using cryptocurrencies, according to a report
Crypto Tax Evasion ‘Rampant’ in Japan
5.6.2019
Cryptocurrency tax evasion is rife in Japan, per a report by local media. It claims that some 50 people and 30 companies have failed to declare over USD 92 million worth of cryptocurrency transactions.
Asahi Shimbun claims that the companies in question include a Tokyo-based enterprise that trades...
Internal Revenue Service is All Set to Release Crypto Tax Guidelines
21.5.2019
The Internal Revenue Service recently announced that it would be fixing the new guidelines for tax on crypto. Because the IRS identifies crypto as property and not currency, it is because it is taxable to purchase and sell crypto. Consequently, tax rules which apply for property transactions, such...
New Crypto Tax Guidance Coming "Soon" in the U.S.
21.5.2019
The U.S. Internal Revenue Service aims to publish a new guidance on taxing cryptocurrency transactions "soon," according to IRS Commissioner Charles P. Rettig.
He was responding to Congressman Tom Emmer's bipartisan letter, led along with his fellow co-chairs of the Congressional Blockchain Caucus...
IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014
20.5.2019
The Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency's commissioner told a lawmaker Monday
Crypto Tax Season: What you need to know
20.2.2019
The basics to keep in mind when filing your tax returns involving cryptocurrencies this year. From the CMC Editorial Desk: It’s… taaaax season. Before you panic, what do you need to know as you’re filing returns on your crypto? Find […]
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