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The U.S. Internal Revenue Service (IRS) has updated its instructions for disclosing crypto activities. The update provides clarification on who must answer “yes” to the IRS’ crypto question and when it is appropriate to select “no” as the answer. IRS Publishes New Crypto Tax Filing Instructions The IRS published updated instructions for Form 1040 on […]
The post IRS Updates Tax Requirements for Cryptocurrency Owners appeared first on Bitcoin News.
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The U.S. Internal Revenue Service (IRS) has started sending out new letters to cryptocurrency owners suspected of owing crypto-related taxes. A tax expert has shared with news.Bitcoin.com what crypto owners should know, including how to handle tax letters from the IRS and avoid an audit. How to Deal With IRS Letters The IRS has ramped […]
The post Targeted by IRS? What Cryptocurrency Owners Should Know appeared first on Bitcoin News.
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The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers to declare whether they have received, sold, exchanged, or acquired any cryptocurrencies. IRS Focuses on […]
The post IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form appeared first on Bitcoin News.
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