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IRS Sued by Ex-Coinbase User Over Seizure of Financial Records
15.7.2020
Jim Harper claims the tax collector violated his Fourth Amendment rights by seizing his crypto account records without obtaining a warrant
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...
Blockchain Bites: Chainlink’s Interest, Ethereum’s ‘ReGenesis’ and Crypto Taxes
14.7.2020
Retail interest in Chainlink is booming, Ethereum may follow Cosmos on its path to upgrade and the U.K. central bank is mulling a CBDC
Even the IRS Admits Some Crypto Tax Regulations Are ‘Not Ideal’
14.7.2020
Have questions about filing your crypto taxes? CoinDesk dives into what we know (and what we don’t) about how the IRS is approaching the asset class
IRS Violated ‘Taxpayer Bill of Rights’ With 2019 Crypto Letters: Watchdog
14.7.2020
Nearly a year after the IRS sent intimidating letters to crypto holders, the agency’s watchdog says the campaign violated its Taxpayer Bill of Rights
Hodlers Can Donate Crypto to Charity to Minimize Tax Payments
14.7.2020
Donating crypto means it won’t be taxed, say The Giving Block and TAXbit, which published a guide to facilitate such donations
Crypto Taxes: Still Confused After All These Years
14.7.2020
Many tax professionals claim the recent guidance didn’t provide much clarity and created more confusion than it dispelled
South Korea Could Issue a Crypto Capital Gains Tax as High as 20%
13.7.2020
Crypto taxation in South Korea could increase to 20% for capital gains
Legal Implications of Secondary SAFT Sales, Part 2
8.7.2020
Part 2 of this series continues to cover the legal implications associated with the sale of SAFTs and focuses on taxes related to tokens
Coinbase Exec Says Capital Will Flee US Due to Crypto Tax Laws
8.7.2020
Coinbase’s chief tax officer Lawrence Zlatkin says global customers are the future as non-U.S. jurisdictions are more open-minded
Sun Sets on Offshore Banking as Assets Worth $11 Trillion Uncovered
2.7.2020
The three-year old Common Reporting Standard is uncovering offshore assets on a massive scale, highlighting cryptocurrencies as a potential alternative
Swiss Government Makes Moves to Encourage Crypto Businesses
1.7.2020
The Swiss government is making key legislative changes to financial laws to improve legal conditions for blockchain businesses
Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future
29.6.2020
Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes
South Korean Economist Warns New Tax Laws May Slow Down Crypto Market Growth
23.6.2020
South Korea economist worries that tough regulation would slow down crypto’s growth
Ernst & Young Launches Application to Help US Crypto Investors With Tax Filings
20.6.2020
Ernst & Young (EY) has introduced a new application that helps U.S. cryptocurrency traders calculate and file their taxes with ease. The EY Cryptoprep app, a Software as a Service (SaaS) web-based crypto tax engine, helps users calculate crypto-related gains and losses that have to be reported...
Tax Time: Ernst & Young Release Crypto Tax App
19.6.2020
A new crypto reporting app by the big four accounting firm EY will help clients with tax reporting as the IRS cracks down on tax evasion
IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt
17.6.2020
The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over...
US Tax Court Says You Should Sell Your Crypto Savings If You Owe IRS
17.6.2020
The US federal court sides with the IRS in a dispute involving crypto whales and unpaid taxes
South Korea’s Finance Minister Confirms Plan to Tax Cryptocurrency
17.6.2020
Although scant on details, South Korea’s finance minister has confirmed that taxes will be imposed on cryptocurrency in the country
Crypto Taxes Are Due July 15, but Be Careful — You May Need More Time
15.6.2020
The Internal Revenue Service has already changed its deadlines to July 15, so if you are not ready to file your crypto taxes in a month, you should ask for an extension