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IRS Updates Instructions To Tax Individual Crypto Investors

5.1.2021
The US Internal Revenue Service (IRS) has released a new version of its draft instructions that clarify the definition of virtual currency. The tax agency aims to guide individual taxpayers on how to fill in the 1040 form that asks them whether they bought or sold cryptoassets last year, but...

IRS to transition from ‘education to enforcement,’ says former division chief

3.1.2021
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear

Crypto taxes, reporting and tax audits in 2021

28.12.2020
Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report

SEC vs. Ripple: A predictable but undesirable development

27.12.2020
Such regulation by enforcement does indeed run the risk of stifling important and valuable innovation in the crypto space

Israeli Tax Authorities Notify Cryptocurrency Owners to Disclose Their Holdings for Taxation Purposes

26.12.2020
The revenue collector, the Israel Tax Authority (ITA) has reportedly sent notifications to dozens of Israelis who own digital currencies asking them to fully disclose their assets and be taxed accordingly. In addition to sending letters to local citizens, the tax body has also sent inquiries...

Tax justice for crypto users: The immediate and compelling need for an amnesty program

20.12.2020
A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions

IRS tax form question leaves US crypto users confused and concerned

17.12.2020
This year’s Form 1040 requires all U.S. taxpayers to answer a question about whether they traded or acquired “virtual currency” during the year

Cryptocurrency Founder Charged With Avoiding Tax to Buy Yachts and Homes

10.12.2020
"Bruno Brock" is alleged to have avoided tax on sales of the pearl cryptocurrency as well as minting free tokens for himself

Coinbase Ditches US Customer Tax Form That Set Off False Alarms at IRS

24.11.2020
Instead of the troublesome 1099-K form, Coinbase will send the 1099-MISC to users of its interest-bearing products. Regular traders may not receive any forms at all

Blockchain Bites: Ethereum 2.0 Deposit Contract Fully Loaded, IRS Sends Befuddling Letters – Again

24.11.2020
More than 500,000 ETH have been locked into Ethereum 2.0's deposit contract, kick-starting the network's major, multi-year development phase

IRS Again Warns Crypto Investors They Under-Reported Gains

24.11.2020
For the second year in a row, the IRS is telling crypto investors they under-reported crypto gains. But there may false alarms again

Biden plans for former Fed Chair and noted Bitcoin bear to lead US Treasury

23.11.2020
The Biden team looks to Janet Yellen to lead the next administration's economic policy, which will have to navigate the wreckage left in the wake of the coronavirus

Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan

23.11.2020
The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage...

Friendliest of them all? These could be the best countries for crypto

23.11.2020
The level of freedoms that the U.S. has provides an argument for the country as the most crypto-friendly location, although Puerto Rico also has its benefits

U.S. law firm says IRS is coming after Coinbase users who evade taxes

11.11.2020
Once an IRS investigation or audit is opened, it's too late to make amends, warn tax lawyers

Second Stimulus Checks: When Direct Payments to Americans Will Come Under Joe Biden

9.11.2020
The outcome of the U.S. presidential election is affecting how fast Americans will receive their second stimulus checks. With Joe Biden named the president-elect, Americans are eager to know how soon they will receive the second round of direct payments. When Second Stimulus Checks Are Coming Many...

South Korea To Ban Crypto Exchanges From Handling Privacy Coins

6.11.2020
South Korea is to ban crypto exchanges from handling digital assets it considers “dark coins”. Regulator Financial Services Commission (FSC) is specifically targeting privacy coins such as dash, monero and zcash. ● The ban is with effect from March 2021. In an update to crypto...