IRS Crypto Tax Return Question — Be Careful How You Answer
If you received, sold, sent or exchanged any virtual currencies last year, the IRS has to know Go to Source Powered by WPeMatico
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How the IRS Audits Cryptocurrency Tax Returns – Filing Expert Shares Example, Insights on AML Focus
Tax season is one of the most dreaded times of the year for many, and when the added confusion of filing crypto returns is thrown into to the mix, things can get even stickier. News.Bitcoin.com recently talked with Clinton Donnelly of Donnelly Tax Law, a service that specializes in crypto returns. The U.S. Treasury-licensed Enrolled … Read more
IRS Invites Cryptocurrency Advocates to March Summit
Cryptocurrency companies and advocates will meet in DC to discuss how the IRS can “balance taxpayer service with regulatory enforcement” Go to Source Powered by WPeMatico
Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash
In this roundup, we cover numerous cryptocurrency regulatory developments in the U.S., including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule. We also cover China quarantining yuan bills, its central bank filing 84 digital currency patents, 40 … Read more
Bitcoin and Doomsday Preppers — Would Crypto Have Any Survival Value If SHTF?
As so-called “doomsday prepping” grows in popularity thanks to news of coronavirus lockdown in Chinese cities, red flag gun laws and rampant Fed stimulus in the U.S., preparedness enthusiasts are asking about the viability of bitcoin in a SHTF situation. From cautious, light investor, to vehement denigrator of the “NSA-created surveillance money,” there is no … Read more
Blockfolio and TokenTax Join Forces to Make Taxes Easier
Blockfolio users can now import their existing crypto portfolios into TokenTax’s automated software Go to Source Powered by WPeMatico
IRS Does Not Consider Fortnite Money as Virtual Currency After All
The IRS seems to have struck certain video game currencies and Ether from its list of examples of convertible virtual currency Go to Source Powered by WPeMatico
The IRS Asks Very Deep Questions Regarding Your Cryptocurrency Activities
Filing taxes related to cryptocurrencies in the US can be a very painstaking endeavor. It now appears that the IRS crypto tax audit letter being sent out to users is a lot more invasive than initially assumed. It is no secret that the IRS wants to target cryptocurrency holders. The IRS Goes All-in on Cryptocurrency … Read more
Bitcoin Taxation Support Growing Industry – Here are 5 Useful Cryptocurrency Tax Calculators
For crypto owners looking to estimate how much they owe in taxes, there are some platforms with a free crypto tax calculator. They integrate with major crypto exchanges and wallets, allowing you to import your crypto transaction data and start calculating your taxes for free. Some of them also integrate with leading tax filing software … Read more
IRS Explains What Crypto Owners Must Know to File Taxes This Year
Kicking off this year’s tax filing season, the U.S. Internal Revenue Service (IRS) has published important tips for crypto owners to properly file their tax returns. This is the first time a cryptocurrency question has been included in the tax form. The IRS expects more than 150 million filers to reveal whether they acquired or … Read more