Taxes

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IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In

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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

Crypto Outpaces Political Donation Laws in Japan

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A major Japanese news publication has reported that crypto donations to individual politicians are legal and do not need to be reported publicly as donations. Japan’s Ministry of Internal Affairs and Communications verified that even though it is illegal to donate cash or securities directly to a politician or political campaign, crypto donations still fly … Read more

Turkish Government Freezes Over 3 Million Bank Accounts

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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

5 Mistakes To Avoid When Filing Crypto Taxes

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Crypto taxes have been a grey area for a while; with many crypto traders being confused about how to file returns when it comes to crypto profits. However, in the past few years, the IRS has clarified most ambiguous issues around crypto taxation. In fact, it has now started cracking down on crypto tax evaders … Read more

Ohio Removes Option to Pay Taxes With Crypto While Local SLP Project Presses Forward

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The state of Ohio has become an unexpected center of American fintech focus in recent years, thanks to remarkable developments at the intersection of crypto, blockchain and government. That said, the online crypto portal that has allowed Ohio businesses to pay their taxes with bitcoin since last year, ohiocrypto.com, has just been suspended due to … Read more

IRS Releases ‘Tax Cheat’ Info Raising Concerns About Crypto Theft

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The U.S. Internal Revenue Service (IRS) released a new report and infographic on Thursday illustrating unpaid or underpaid taxes for the years 2011 – 2013. The numbers reflect estimates based on the last such findings, for the years 2008 – 2010. With commissioner Chuck Rettig citing the importance of voluntary compliance, and crypto’s popularity on … Read more