Internal Revenue Service – DIGIT INFO

IRS issues temporary relief on crypto cost-basis method changes

DIGIT — Wed, 01 Jan 2025 06:22:07 +0000

The IRS’ new rules could have been “disastrous” for crypto taxpayers during the bull market, a crypto tax executive said.

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DeFi has 3 options if IRS rule isn’t rolled back — Alex Thorn

DIGIT — Sat, 28 Dec 2024 21:54:40 +0000

The United States Treasury Department and the Internal Revenue Service (IRS) received more than 44,000 comments after proposing the rule.

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Smithsonian to display IRS laptop that tracked Bitfinex’s 120K stolen Bitcoin

DIGIT — Wed, 20 Nov 2024 00:10:49 +0000

The Smithsonian Institute has obtained the laptop owned by former IRS agent Chris Janczewski which was used to track down the 2016 Bitfinex hacker who stole 120,000 Bitcoin.

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AI agents could be policing all crypto txs within 5 years: Chainalysis CEO

DIGIT — Fri, 20 Sep 2024 04:30:04 +0000

Chainalysis CEO Michael Gronager believes “it’s not much further away” before governments use AI agents to catch onchain crypto wrongdoers.

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How the IRS seized $10B worth of crypto using blockchain analytics

DIGIT — Thu, 11 May 2023 15:00:00 +0000

A public-private partnership with blockchain analytics firm Chainalysis has played a key role in helping the Internal Revenue Service solve cryptocurrency-related crimes.

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Argentina Signs Automatic Tax Data Sharing Agreement With the United States

DIGIT — Tue, 06 Dec 2022 10:30:44 +0000

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 tax authority to receive information from accounts and […]

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Get ready for a swarm of incompetence at the IRS in 2023

DIGIT — Thu, 22 Sep 2022 19:04:38 +0000

The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years.

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Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600

DIGIT — Fri, 10 Jun 2022 06:30:02 +0000

Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through a third-party payment network. US Residents Think […]

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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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