New IRS Guidance: How to Report Crypto Assets Accurately
Here is everything you need to know about the IRS new guidance Go to Source Powered by WPeMatico
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5 Takeaways From the New IRS Crypto Tax Guidance
The IRS released an update to its guidance on crypto taxation earlier this month, the first such update since the initial version in 2014. The new guidance is in the form of a Q/A released on the IRS’s website – it mainly clarifies the tax treatment of Hard Forks and Airdrops but also underlines the … Read more
Where US Regulators Stand on Crypto Assets
The U.S. has many regulators responsible for overseeing different aspects of crypto assets, each with its own stance on how they should be regulated. Major regulators in the U.S. with strong opinions on cryptocurrency include the SEC, the CFTC, the Federal Reserve, Fincen, and the IRS. Also read: Tax Guide: What Crypto Owners Should Know … Read more
Tax Guide: What Crypto Owners Should Know
With the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are not taxing crypto transactions. Furthermore, many tools exist … Read more
Crypto IRS Audits: Hire Professionals or Do it Yourself?
The IRS continues to hunt for crypto user identities. If the IRS audits you, sends you notices, etc., should you handle it yourself or get professional help? Go to Source Powered by WPeMatico
IRS to Require 150 Million Tax Filers to Disclose Crypto Dealings
The U.S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies during the year. Also read: … Read more
US IRS Makes Change to Standard Questions in Regards to Cryptocurrencies
The U.S. IRS adds question to 1040 income tax form to find out if taxpayers have been dealing with cryptocurrencies Go to Source Powered by WPeMatico
IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In
The U.S. Internal Revenue Service (IRS) has issued long-awaited guidance on the tax treatment of cryptocurrencies. It is generally described by the crypto community as a mixed bag since some parts are useful while others have raised many more questions, particularly how cryptocurrencies from hard forks and airdrops are taxed. Also read: 10 Tax Tools … Read more
IRS Releases ‘Tax Cheat’ Info Raising Concerns About Crypto Theft
The U.S. Internal Revenue Service (IRS) released a new report and infographic on Thursday illustrating unpaid or underpaid taxes for the years 2011 – 2013. The numbers reflect estimates based on the last such findings, for the years 2008 – 2010. With commissioner Chuck Rettig citing the importance of voluntary compliance, and crypto’s popularity on … Read more
Only Reporting Part of Your Crypto Addresses? The IRS Needs to Know
The US Internal Revenue Service (IRS) might be tracking your crypto addresses Go to Source Powered by WPeMatico
