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Category: Charles Rettig
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Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply
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While Politicians Worldwide Clamor Over Tax Evasion, Pandora Papers Show Bureaucrats Are the Worst Offenders
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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
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NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands
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IRS needs congressional authority to handle crypto, says chief
“Most crypto, virtual currencies are designed to stay off the radar screen,” said Charles Rettig.
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US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space
A bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking. These politicians believe America’s ingenuity can help drive this promising staking technology. The four congressmen are Bill Foster (D) of Illinois, Darren Soto (D) of Florida, Tom Emmer (R) of Minnesota, and David Schweikert […]
The post US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space appeared first on Bitcoin News.
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Spill Your Sats: H&R Block Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly
Tax season for United States residents is fast approaching, and the IRS wants to know about everyone’s involvement in the crypto space. Thanks to a recently updated income tax form including a question about crypto activity, tax preparation companies like H&R Block are advising filers to be sure to disclose their details. The service maintains […]
The post Spill Your Sats: H&R Block Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly appeared first on Bitcoin News.
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Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event
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 “very seriously.” Sean Ryan, CTO of Node40, a platform […]
The post Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event appeared first on Bitcoin News.
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IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users
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 and issue subpoenas to make sure U.S. residents are paying taxes on […]
The post IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users appeared first on Bitcoin News.
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