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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
The IRS has issued new guidance that attempts to clarify tax reporting for crypto hard forks and airdrops Go to Source Powered by WPeMatico
Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure, is likely to push even more of its citizens towards cryptocurrencies with the … Read more
Cryptocurrencies like Bitcoin are neither financial assets nor legal tender, says the International Financial Reporting Interpretations Committee Go to Source Powered by WPeMatico
While tax laws on cryptocurrency vary by jurisdiction, there are many useful tools to help you calculate crypto taxes, lower your tax liabilities, and simplify your filing — no matter where you are. Many of them work globally, supporting tax forms of multiple countries, and can import data directly from all major crypto exchanges. Also … Read more
The Indian crypto community has made progress towards influencing the government’s crypto policies. Some industry leaders have met with an influential lawmaker who has agreed to help bring about positive crypto regulation in the country. Also read: India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives Crypto a Boost Parliament Member Agrees to Help … Read more
Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature of decentralized digital assets. Not to mention how absurd … Read more
Many experts predict that the U.S. might face another recession as early as next year and by 2021, others foresee another recession and give it a 24% to 83% of happening. In May 2019, the U.S. saw just 27,000 created – affecting manufacturing and small businesses the most heavily, but some industries, healthcare, education, and … Read more
Tax season is months away, which is why you need to start preparing for it now. Leave everything to the last minute and you’ll only end up cursing your procrastination. Organize your cryptocurrency activity in advance and you’ll breeze through tax deadline day without so much as flinching. Despite maddeningly vague or unfair legislation, filing … Read more
As the Indian government deliberates on the country’s crypto policy, the tax authority continues to send out letters with lengthy, probing questions to crypto owners. News.Bitcoin.com talked to industry experts to find out the implications of these letters, what people can do when receiving them, and how crypto assets are taxed in India. Also read: … Read more
