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Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event
5.8.2019
The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters...
The Modern Era of Free Range Slaves: How Bitcoin Breaks the Mold
3.8.2019
In a string of recent Tweets, 2020 Libertarian presidential candidate and fugitive from the law John McAfee has been talking about slavery. Urging people to “wake up” and assuring them that neither compliance with the status quo, nor stacks of riches, can set them free. Indeed, when...
New Bitcoin Cash Specs Propose Heightened Privacy and Double-Spend Proofs
31.7.2019
Bitcoin Cash (BCH) development continues as software engineers have revealed two distinct concepts that aim to boost the BCH network. Bitcoin Cash developer Tom Zander has announced new documentation concerning the vision of a double-spend proofs, which now exists as a pull request to...
Reddit Roasts the IRS: Have America’s Tax Collectors ‘Gone Crypto Fishing’?
30.7.2019
In a juicy little chunk of news from the Redditsphere, a user claiming to be a former IRS employee has called the agency’s new crypto compliance letters “broad and very error-prone fishing expeditions.” The throwaway account details the “really bad data” used by...
US Authorities Start Tightening Grip On Crypto Trade, Send Notices To Cryptocurrency Owners
27.7.2019
The crypto trade finally seems to be falling in regulation in the US, as authorities start to tighten their grip on crypto trade and digital currency owners. In a statement released on Friday, the Internal Revenue Services (IRS) of the US said that it has started sending letters to crypto owners...
10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS
27.7.2019
On July 26, the U.S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August....
IRS Says It Is Sending Warning Letters to US Cryptocurrency Owners
26.7.2019
The IRS has begun contacting U.S. taxpayers, warning them about possible back taxes owed on their crypto holdings
How Government Agencies Make Criminals of Crypto Traders
26.7.2019
A New Jersey man has been indicted this week for converting over $2 million to bitcoin and operating a private exchange business not registered with the U.S. Secretary of the Treasury. According to a July 24 press release by the U.S. Attorney’s office, 46-year-old William Green could face...
Privacy Is a Human Right Worth Fighting For
23.7.2019
Privacy is a basic human right. It’s there in Article 12 of the Universal Declaration of Human Rights: “Freedom from Interference with Privacy, Family, Home and Correspondence.” Attaining that right in an era of dragnet surveillance, mass data breaches, state-sponsored hacks...
Money and Democracy: How the Elite Manipulated Ledgers and Created a Social Ranking System
22.7.2019
Money is one of the most important but least understood manmade tools in existence. For more than 5,000 years humans have used a tool of exchange called money to facilitate trade. During this timespan, the evolution of money has evolved into a system of information, a social contract, and a ranking...
IRS Confirms It Trained Staff on Finding Crypto Wallets
12.7.2019
The IRS may subpoena tech firms like Apple, Google and Microsoft in search of taxpayers’ unreported crypto holdings.
Congressman Emmer Reintroduces Legislation to Provide Clarity for Taxpayers with Digital Assets Following IRS Inaction
10.7.2019
WASHINGTON, D.C. – Today, Congressman Tom Emmer (MN-06) reintroduced the Safe Harbor for Taxpayers with Forked Assets Act, which prohibits penalties against taxpayers until the IRS issues guidance on how to report gains or losses in “forked” digital assets. In 2014, the IRS issued...
Money and Democracy: Why You Never Get to Vote on the Most Important Part of Society
10.7.2019
It’s very odd that citizens never get to vote or have any say in regard to society’s money, even though it’s one of the most important aspects of everyday life. In fact, in developed countries, most central banks are institutions that are privatized from political interference...
IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity
9.7.2019
United States Internal Revenue Service allegedly hopes to require tech giants such as Google and Microsoft to silently share crypto-related activity by users: Report
IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users
9.7.2019
A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts...
Who Are the Real Thieves? Danish Authorities Seize 3 Ferraris in Tax Evasion Crackdown
8.7.2019
Last week Danish authorities seized three Ferraris belonging to a large Copenhagen-based business allegedly seeking to avoid VAT. With the largest bank in Denmark—Danske Bank—also being embroiled in a tax avoidance scandal last year, it seems timely to explore the common libertarian...
IRS 'Weeks Away from 3 Tax Bills' After Call from Pro-Crypto Activists
8.7.2019
America’s top tax authority, the Internal Revenue Service (IRS), will update its cryptocurrency guidelines “in the coming weeks,” per the Wall Street Journal – following a request put forward by United States parliamentarians.
The media outlet says that the IRS’ decision was made after...
IRS All Set To Update Its Guidance On Bitcoin In Following Weeks, States Report
8.7.2019
The Internal Revenue Service (IRS) of the United States is soon going to update its current guidance (2014) on digital currencies in the following weeks, as per the reports published by the Wall Street Journal. The move has been taken following the request from 20 lawmakers of the bipartisan group...
Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision?
6.7.2019
Some investors put crypto in a trust that holds crypto assets. What are the specifics? A Tax lawyer comments
Node40 Executive Explains What to Expect When the IRS Issues Its New Crypto Policy
27.6.2019
Last May, the U.S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance. This...