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Filing taxes can be tricky and in jurisdictions like the United States is notoriously complicated. But when cryptocurrencies are added to the equation things start to get even harder. Many aspects of the reporting of crypto income and profits are not yet clearly defined. However, a number of tax filing and calculation tools are trying … Read more
U.S.-based crypto exchange Coinbase has added new resources for users on how to claim crypto transactions on their yearly taxes Go to Source Powered by WPeMatico
The authors of a New Hampshire bill on crypto payments aim to make the local government more progressive on the topic Go to Source Powered by WPeMatico
Security entrepreneur John McAfee flees alleged IRS indictment, plans to run for U.S. president from a boat Go to Source Powered by WPeMatico
Romania has amended its tax laws, allowing it to start taxing gains from bitcoin investments at a rate of 10 percent. The improved fiscal code legislation categorizes earnings generated from buying and selling cryptocurrencies as “income from other sources” and therefore subject to income tax, local media reports. Also read: Falcon Private Bank Launches Crypto Wallet … Read more
According to local media, a Swedish cryptocurrency trader is anticipating receiving a tax bill of approximately $1 million after conducting approximately $2.9 million worth of trades across tens of thousands of transactions made since 2014. The trader claims that the tax bill will equate to 300 percent of the profits he has earned rather than … Read more
Switzerland-based Falcon Private Bank has launched direct transfers of select cryptocurrencies, as well as crypto-fiat withdrawals Go to Source Powered by WPeMatico
The results of a survey published by Credit Karma estimate that crypto investors in the U.S. realized losses of approximately $1.7 billion during the previous tax season. Additionally, the report finds that U.S. investors incurred a further $5.7 billion in unrealized losses. Also Read: Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M US Cryptocurrency … Read more
Cryptocurrency profits must be reported to the Chilean Internal Revenue Service by local taxpayers, local crypto media reports Go to Source Powered by WPeMatico
Chile is to start taxing cryptocurrencies in April, when taxpayers pay their yearly income taxes, but it’s unclear at what rate. According to local media reports, the country’s revenue authority has included crypto assets in the Annual Income Tax Returns form, which will be declared as “other own income and/or third-party income from companies that … Read more
