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Category: IRS
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The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and she insists financial information concerning where income derives from can get “hidden.” Janet Yellen […]
Binance hires former IRS-CI special agent to head intelligence division
Regulatory scrutiny from around the world has forced the cryptocurrency exchange to up its compliance and auditing measures.
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Crypto tax ‘a top enforcement priority,’ reminds IRS commissioner
IRS Commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property.
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US Lawmakers Propose to Subject Cryptocurrencies to Wash Sale Rule
A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts to close down a big crypto tax loophole. Crypto Included in New […]
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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 worth of transactions or […]
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IRS Agent Poses as Bitcoin Trader Called ‘Mr. Coins,’ Biden’s IRS Wants ‘Outflow and Inflow’ Data From Banks
Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According to one report, the IRS may get access to bank inflows and outflows via Joe Biden’s American Families Plan. On top of this, another story explains […]
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The new episode of crypto regulation: The Empire Strikes Back
A decentralized exchange reckoning is coming — and it’s bigger than the infrastructure bill — thus, the DeFi community must be ready.
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Founder of the Bitcoin Mixer Helix Pleads Guilty to Money Laundering Charges
Larry Dean Harmon, founder and operator of the bitcoin mixing service Helix has pleaded guilty on Wednesday to money laundering charges. Harmon’s guilty plea follows the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) fining Harmon $60 million last year. Helix Operator Pleads Guilty to Money Laundering, Conspiracy Charges According to several reports and a court-issued […]
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Former US Treasury official joins Binance to lead AML efforts
Former IRS supervisor Greg Monahan replaces Karen Leong as the global money laundering reporting officer of Binance.
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US Government Now Offers Informants Crypto Rewards in Addition to Bank Wires, Suitcases Full of Cash
Attendees of the Black Hat hacker conference in Las Vegas were introduced to a new advertisement crafted by the U.S. State Department. According to individuals who accessed the government advertisement via an open Wi-Fi network called “#Rewardsnotransoms” they discovered the U.S. government is offering to pay crypto rewards to individuals who give up information concerning […]
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