Charles Rettig – DIGIT INFO

The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal

DIGIT — Sun, 17 Oct 2021 21:00:07 +0000

U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are mischaracterizing the proposal. Biden Administration’s […]

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Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply

DIGIT — Wed, 06 Oct 2021 20:00:11 +0000

The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and she insists financial information concerning where income derives from can get “hidden.” Janet Yellen […]

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While Politicians Worldwide Clamor Over Tax Evasion, Pandora Papers Show Bureaucrats Are the Worst Offenders

DIGIT — Tue, 05 Oct 2021 20:00:35 +0000

As bureaucrats across the globe continue to ask the common citizenry for access to every financial decision they make, politicians and celebrities worldwide are hiding large amounts of wealth in tax havens according to the Pandora Papers. While American politicians like the Biden administration claim to be against tax corruption, some people view the U.S. […]

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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600

DIGIT — Thu, 16 Sep 2021 12:30:28 +0000

On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 worth of transactions or […]

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NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands

DIGIT — Sat, 10 Jul 2021 17:30:57 +0000

On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service (IRS). The U.S. tax agency is accused of obtaining Harper’s […]

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IRS needs congressional authority to handle crypto, says chief

DIGIT — Tue, 08 Jun 2021 19:30:00 +0000

“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

DIGIT — Thu, 06 Aug 2020 03:03:09 +0000

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 […]

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Spill Your Sats: H&R Block Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly

DIGIT — Mon, 27 Jan 2020 08:00:53 +0000

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 […]

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Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event

DIGIT — Sun, 04 Aug 2019 22:15:59 +0000

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 […]

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IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users

DIGIT — Tue, 09 Jul 2019 18:00:41 +0000

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 […]

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