Crypto tax in South Korea is ‘inevitable’ in 2022, says minister
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.” Go to Source Powered by WPeMatico
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Biden’s proposed capital gains tax rise will hit only richest 0.3%
Only 0.3% of taxpayers in the U.S. would be hit by higher levies on their investments under the new capital tax plan, a senior Biden administration official said. Go to Source Powered by WPeMatico
NFTs and US taxes: What you should know
Are there any pitfalls in NFT taxation according to the current U.S. laws? Go to Source Powered by WPeMatico
Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea
The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their taxes. Crypto Seizure … Read more
Norwegian authorities urge crypto users to declare earnings on upcoming return
“Our experience is that most people will follow all laws and regulations, and we will help those who invest in crypto to do it right,” said Marius Johansen. Go to Source Powered by WPeMatico
More IRS summonses for crypto exchange account holders
The recent John Doe summons developments indicate that the IRS is seriously interested in crypto — better to report than to be audited. Go to Source Powered by WPeMatico
The crypto FBAR: Implications beyond
What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations. Go to Source Powered by WPeMatico
Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon
Back in mid-February, Bitcoin.com News reported on Miami’s Mayor Francis Suarez supporting the idea of the city holding bitcoin in the treasury and allowing tax payments in bitcoin as well. On April 15, 2021, reports show that the city may introduce the tax payments concept soon, as the District 8 county commissioner Danielle Cohen Higgins … Read more
Miami commissioner wants to let residents pay taxes in Bitcoin
A new resolution would establish a task force to study crypto in Miami-Dade county’s public administration. Go to Source Powered by WPeMatico
More Russians are disclosing their cryptocurrency incomes: report
Consulting firms like PwC Russia said that Russians have been increasingly reporting their income from cryptocurrency operations. Go to Source Powered by WPeMatico
