IRS – Page 4 – DIGIT INFO

Kraken asks San Francisco court to intervene against IRS demands

Kraken has joined Coinbase in an effort to push back against the growing regulatory scrutiny by U.S. regulators.

‘Biggest mistake’ is not using tax loss harvesting: Koinly head of tax

Failing to utilize tax loss harvesting is one of the biggest mistakes people can make on their tax returns, according to the head of tax at Koinly.

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Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud

On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ […]

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New R&D tax rules could mean a US exodus for crypto companies

A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes.

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FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense

According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his […]

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Staking gains shouldn’t be taxed until they’re sold

We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked.

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Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27

Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency.

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IRS calls for public feedback on taxing NFTs as collectibles

Those wishing to offer feedback to the IRS on having NFTs treated as collectibles such as coins or works of art have until June 19 to submit comments.

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Bitcoin-friendly Cash App integrates TaxBit amid tax-filing season

Bitcoin evangelist Jack Dorsey’s Cash App is making it easier for BTC holders to calculate their taxes with the TaxBit integration.

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ConsenSys releases statement of support for continuation of the Jarrett tax case

The court dismissed the Jarretts’ case over the taxation of staking rewards after the IRS issued the refund the couple sought; not good enough, they said.

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