IRS – Page 7 – DIGIT INFO

IRS Expands Crypto Question on Tax Form

The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form 1040 is the […]

Go to Source

US govt delays enforcement of crypto broker reporting requirements: Report

The reporting requirements, aimed at reducing the size of the tax gap, were scheduled to take effect in January 2023, with crypto firms sending reports to the IRS starting in 2024.

Go to Source

Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600

Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through a third-party payment network. US Residents Think […]

Go to Source

Crypto donation startup launches IRS form as US tax season loom

Nonprofits are required to file IRS Form 8282 for crypto donations of $500 or more if donated funds are exchanged for the U.S. dollar.

Go to Source

Cointelli Makes It Easy to Report Coinbase, Binance, and Kraken Transactions to the IRS

Many crypto exchanges send tax forms to the IRS, each with their own list of supported tokens and info that doesn’t necessarily match up. This can create a lot of confusion for U.S. taxpayers. Luckily, Cointelli can swiftly and reliably create a unified tax report with the push of a button. And if there are […]

Go to Source