IRS to transition from ‘education to enforcement’, says former division chief
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear Go to Source Powered by WPeMatico
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Crypto taxes, reporting and tax audits in 2021
Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report. Go to Source Powered by WPeMatico
SEC vs. Ripple: A predictable but undesirable development
Such regulation by enforcement does indeed run the risk of stifling important and valuable innovation in the crypto space. Go to Source Powered by WPeMatico
Tax justice for crypto users: The immediate and compelling need for an amnesty program
A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions. Go to Source Powered by WPeMatico
IRS tax form question leaves US crypto users confused and concerned
This year’s Form 1040 requires all U.S. taxpayers to answer a question about whether they traded or acquired “virtual currency” during the year. Go to Source Powered by WPeMatico
Biden plans for former Fed Chair and noted Bitcoin bear to lead US Treasury
The Biden team looks to Janet Yellen to lead the next administration’s economic policy, which will have to navigate the wreckage left in the wake of the coronavirus. Go to Source Powered by WPeMatico
Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan
The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust. During the last few years, investors have been … Read more
Friendliest of them all? These could be the best countries for crypto
The level of freedoms that the U.S. has provides an argument for the country as the most crypto-friendly location, although Puerto Rico also has its benefits. Go to Source Powered by WPeMatico
U.S. law firm says IRS is coming after Coinbase users who evade taxes
Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers. Go to Source Powered by WPeMatico
How the IRS tracks down people who don’t report their crypto
The United States tax authority doesn’t seem to be very efficient when it comes to tracking down who owes crypto taxes — for now. Go to Source Powered by WPeMatico
