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What crypto hodlers should keep in mind as tax season approaches
2.2.2023
Filing crypto taxes can be complex, especially for those exploring the decentralized finance world. Here’s what to keep in mind
IRS reminds taxpayers of crypto income reporting ahead of 2022 filing
28.1.2023
The IRS’s recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking
FTX Publishes Creditor List, Owes Millions to Well-Known Institutions and Government Agencies
26.1.2023
The now-defunct crypto exchange FTX has published its list of creditors, with the names unredacted. The comprehensive list, which is over 100 pages long, shows that FTX owes a lot of money to well-known institutions, including Binance, Airbnb, Apple, Amazon, Linkedin, Coindesk, the Wall Street...
Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS
13.1.2023
Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would challenge the funding granted to the U.S. tax agency...
Man Pleads Guilty to Stealing Bitcoin ‘Seized’ by US Government
9.1.2023
An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether, and dogecoin as part of his plea. “Due to the increase in market prices, the total value of these...
IRS Official: Crypto Is Here to Stay and ‘Becoming More Legitimate’
7.1.2023
A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it’s becoming more legitimate.” The official added that the U.S. tax authority is looking to partner with crypto companies, noting: “I don’t see how we can operate...
Brother of Criminal Bitcoin Mixing CEO Pleads Guilty to Stealing 712 Bitcoins From IRS
6.1.2023
An Ohio family now has not one but two felons facing potentially lengthy prison sentences for crypto-related crimes
US authorities to intensify scrutiny of crypto industry in 2023
5.1.2023
The SEC, FASB, and IRS are working to tighten crypto regulations and expand industry oversight
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
25.12.2022
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto...
The outcome of SBF's prosecution could determine how the IRS treats your FTX losses
16.12.2022
Will your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win
Argentina Signs Automatic Tax Data Sharing Agreement With the United States
6.12.2022
The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc Stanley, will allow the Argentine national...
Use Your Crypto Losses to Turn the Tables Against the IRS
16.11.2022
IRS Building ‘Hundreds’ of Crypto Cases — Official Says $7 Billion in Crypto Seized in 2022
8.11.2022
The Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation Division seized about $7 billion in cryptocurrency, which was double the previous year’s...
Crypto News Summary: NEAR Wallet Users Jump from 2M to 20M, IRS Preparing 'Hundreds' of Crypto Cases, Top 10 Whitehats Made $42M
4.11.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Crypto News Summary: NEAR Wallet Users Jump from 2M to 20M, IRS Preparing 'Hundreds' of Crypto Cases, Top 10 Whitehats Made...
IRS prepares for an increase in crypto cases in the upcoming tax season
4.11.2022
The criminal investigation division of the IRS says it is preparing hundreds of crypto-related cases for the upcoming tax season
The World’s Weakest Currency, Kiyosaki Says Greenback Is ‘Toast,’ IRS Crypto Tax Update and More — Bitcoin.com News Week in Review
30.10.2022
In this week’s hottest stories from Bitcoin.com News: the Ghanaian cedi’s recent slide to a new low against the USD, Rich Dad Poor Dad author Robert Kiyosaki weighs in on Saudi Arabia’s move to join the BRICS nations, the United States Internal Revenue Service updates tax filing...
A new definition of crypto comes from the IRS — Law Decoded, Oct. 17-24
25.10.2022
IRS broadens the classification of crypto, Ripple gets another point in a case against SEC, and Hong Kong considers its own regulatory framework in opposition to China
IRS Updates Crypto-Related Instructions for 2022 Tax Filing
25.10.2022
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New...
US IRS Releases New Reporting Guidelines for Digital Assets
20.10.2022
The US Internal Revenue Service (IRS) has released updated guidelines for reporting digital assets, clarifying the taxation of non-fungible tokens (NFTs) and stablecoins as well.
The IRS’ draft 2022 tax year guide has placed cryptocurrencies, stablecoins, and NFTs into the same category...
Crypto News Summary: Celsius Faces US Federal 'Investigations', IRS Puts Crypto, NFT & Stablecoin in Digital Asset Category, HackNotice Accepts BTC, XMR
19.10.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Crypto News Summary: Celsius Faces US Federal 'Investigations', IRS Puts Crypto, NFT & Stablecoin in Digital Asset...