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Cryptocurrency users have a few interesting habits when it comes to dealing with taxes. This has caused the IRS to launch official investigations involving cryptocurrency exchanges. Additionally, it seems the agency has co-founded the J5 initiative, or Joint Chiefs of Global Tax Enforcement. The J5 Initiative Is Born Various countries around the world have introduced … Read more
Tax agencies around the world keep applying pressure on bitcoin and crypto companies to make their operations transparent to them. The latest example comes from Israel, where a local exchange with over 50,000 clients has been convinced to report its bigger traders to the national tax authority. Also Read: Decentral Launches Its New Crypto Wallet … Read more
The U.S. IRS launches transnational taskforce together with tax enforcement agencies from four other countries to tackle crypto-enabled crimes Go to Source Powered by WPeMatico
Zug’s blockchain-based municipal vote trial was deemed a “success” by the city’s head of communication, despite low voter turnout Go to Source Powered by WPeMatico
Since the incredible bull run last year, early adopters, and even people who invested in cryptocurrencies back in January 2017, have made an incredible amount of financial gains. In the U.S. some people who want to cash out a good chunk of money realize they’ll end up paying the taxman (IRS) a lot of money … Read more
Some crypto investors resort to putting their crypto in legal entities such as corporations, LLCs or partnerships Go to Source Powered by WPeMatico
Cryptocurrency traders in Japan currently can be taxed as high as 55% on their profits. However, the country’s Deputy Prime Minister, Taro Aso, wants to change how crypto transactions are taxed, from a progressive rate to a uniform rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Aso Wants to Change Crypto Taxation The Japanese … Read more
Japan’s Minister of Finance suggests changing crypto tax group to “separate self-assessment taxation,” but thinks public may not think it is fair Go to Source Powered by WPeMatico
Filing taxes pertaining to Bitcoin and other cryptocurrencies remains a very big problem for a lot of people. While some interesting tools exist, the process needs to be made easier and more straightforward. Taxbit can be a very helpful tool in this regard, although it may not be for everyone. The Idea Behind Taxbit On … Read more
The Ethics Committee of the U.S. House of Representatives has issued a memo requiring all House Members to disclose crypto holdings worth over $1,000 Go to Source Powered by WPeMatico