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The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New IRS Instructions for Tax Form 1040 The Internal Revenue Service (IRS) released its 2022 draft … Read more
Ethereum’s Merge resulted in a Proof-of-Work airdrop. That means you could be on the hook for tokens you didn’t even want. Go to Source Powered by WPeMatico
The city of Curitiba, in Brazil, is now studying the possibility of accepting cryptocurrency payments for taxes. Noemia Rocha, a city councilor for Curitiba, presented this project to the executive to study the method by which the municipality could accept cryptocurrencies for these payments using third-party payment processors. Curitiba Might Accept Crypto for Paying Taxes … Read more
Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament of Kazakhstan Votes on Bill Regulating Activities of Crypto … Read more
The city will allow taxpayers to make crypto payments through third-party service providers. Go to Source Powered by WPeMatico
Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government of Portugal Proposes New Tax for Cryptocurrency-Related Gains In the past … Read more
The OECD said it planned to present the Crypto-Asset Reporting Framework to a meeting of G20 finance ministers and central bank governors on Oct. 12-13. Go to Source Powered by WPeMatico
Members of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has been approved by a large majority which also wants small crypto traders to enjoy a simpler tax regime. European Parliament Adopts Framework for Uniform Taxation … Read more
Colorado is now accepting crypto for tax payments — but if you choose to use that option, it could change the amount you owe. Go to Source Powered by WPeMatico
“We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016,” said Norway’s finance minister. Go to Source Powered by WPeMatico
