2019-8-15 23:55 |
The IRS is sending another round of warning letters to crypto users, this time to taxpayers who it thinks misreported income on exchange transactions.
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After its initial letter campaign targeting crypto holders who may not have reported their gains or losses on their tax returns, the Internal Revenue Service's second round of letters targets those who may have misreported their crypto holdings on tax documents.
2019-8-15 00:21 | |
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As covered by NewsBTC just a few hours ago, the SEC has just released a 92-page report highlighting major reasons supporting its rejection of the revised proposal of the Winklevoss Bitcoin ETF. The Community Reacts To The News At first glance, many cryptocurrency community members saw this announcement as another bout of rehashed news, misreported by.
2018-7-27 08:00 | |
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The IRS published a draft version of its 1099-DA reporting form and controversially included unhosted crypto wallets among its targets on April 19. Ji Kim, Chief Legal and Policy officer at the Crypto Council for Innovation, wrote that the IRS’ approach is “unfortunate” as it does not recognize that unhosted wallet providers lack knowledge about […] The post IRS draft tax form for crypto defines unhosted wallets as brokers appeared first on CryptoSlate.
IRS criminal investigation chief Guy Ficco told CNBC on April 12 that taxpayers are increasingly committing tax crimes involving crypto. Ficco said the IRS has seen an increase in “pure crypto tax crimes” that fall under Title 26 of the US Code, which includes federal income tax violations.
Earnings already subject to the 15% capital gains tax don't need to be included when calculating income taxes.
The Biden administration released its proposed budget for 2025 on March 11, which includes provisions to implement a series of regulatory measures targeting digital assets. The proposed rules are expected to generate nearly $10 billion in additional tax revenue by 2025.
Indonesia witnessed a notable downturn in its crypto tax revenue in 2023, plunging by 62% compared to the previous year, despite the surge in Bitcoin's value.
In a strategic move ahead of the upcoming general elections, South Korea’s ruling party, the People Power Party (PPP), has announced plans to push for a further two-year delay in the implementation of crypto taxation, local media reported Feb.
The Brazilian Senate has approved a new taxation policy, effective Jan. 1, imposing up to a 15% tax on earnings from crypto held in foreign exchanges.