Taxes

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US Judge Denies Customer’s Plea to Quash IRS Bitstamp Inquiry

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A Washington Western District Court judge has rejected petitioner William Zietzke’s appeal to stop the U.S. Internal Revenue Service (IRS) from accessing his Bitstamp trade data. An IRS summons invoked Zietzke to file a petition to quash the tax agency’s investigation into his private accounts. Even though the presiding Judge John Coughenour believes the IRS … Read more

IRS Dispels Crypto Tax Confusion

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The U.S. Internal Revenue Service (IRS) has cleared up some confusion about how cryptocurrency transactions are taxed, particularly regarding like-kind exchanges and promotional airdrops. As the tax agency intensifies its enforcement efforts, more people are seeking the best tax software to help them. Also read: Tax Guide: What Crypto Owners Should Know Pre-2018 Like-Kind Exchanges … Read more

Crypto Tax Guidelines Leave More Questions Than Answers

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Cryptocurrency holders have long wrestled with their tax obligations. These fiduciary duties have been complicated by tax agencies, which are several steps behind technology and now playing crypto catch-up. Updated guidelines from the U.S. and U.K.’s tax agencies were finally released this year, but the initial relief felt by conscientious bitcoiners was to prove short-lived, … Read more

Britain’s Tax Authority Updates Crypto Guidelines

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Her Majesty’s Revenue and Customs (HMRC) has updated its guidelines on the taxation of transactions involving crypto assets. The United Kingdom’s tax authority clarifies its stance on cryptocurrencies and explains which taxes apply to specific activities carried out by business entities and private individuals. Also read: Bad Loans at Big British Banks Jump Over 50% … Read more