2019-12-21 20:53 |
Congressmen are again asking the IRS for clarity on its recent cryptocurrency tax guidance.
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The tax collection agency of the United States is doubling down on tackling cryptocurrency tax evasion. The IRS’s Criminal Investigation division said it is preparing “hundreds” of cryptocurrency tax evasion cases, according to chief Jim Lee.
2022-11-5 20:15 | |
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The Internal Revenue Service (IRS) has accepted to refund $3,393 in income tax plus interest on the tax to a Nashville couple who remitted the tax on 8,876 Tezos tokens they had acquired through staking according to sources.
2022-2-3 16:32 | |
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An official of the U. S. Internal Revenue Service (IRS) has clarified that the agency is prepared to seize cryptocurrencies and sell them to satisfy tax collection if taxpayers fail to meet their tax obligations.
2021-5-15 20:00 | |
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The key to properly filing taxes on cryptocurrency comes down to excellent record-keeping, the correct IRS tax forms, and knowledge about what qualifies as income versus capital gains. Handle Tax Filings With Care to Avoid Any Audits Although the traditional April 15th deadline for filing US taxes has been pushed to May 17th, there is […]
2021-4-1 05:30 | |
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The United States Internal Revenue Service (IRS) is looking to enforce cryptocurrency tax compliance with its recent initiative. “Operation Hidden Treasure” Is Not A Fun Game The IRS will be coming down hard on those who under-report their crypto gains in their tax forms, Forbes reports.
2021-3-10 18:47 | |
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The US IRS (Internal Revenue Service) recently released revised draft instruction for the country’s tax filers. The tax agency used the opportunity to remind the country’s citizens that crypto users need to admit their dealings with digital currencies when filling up the IRS tax forms.
2021-1-5 13:28 | |
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Crypto tax evasion in the United States is about to become more difficult following the subtle change made by the Internal Revenue Service (IRS) to its form 1040. America’s tax body continues to push for greater cryptocurrency tax compliance despite lingering confusion over some of its guidelines.
2020-9-25 19:33 | |
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Kicking off this year’s tax filing season, the U. S. Internal Revenue Service (IRS) has published important tips for crypto owners to properly file their tax returns. This is the first time a cryptocurrency question has been included in the tax form.
2020-2-2 15:50 | |
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The U. S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies during the year.
2019-10-13 21:13 | |
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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.
2019-10-10 09:30 | |
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U. S. tax authority, the Internal Revenue Service (IRS) has already begun sending letters to thousands of bitcoin and crypto holders who have failed to report cryptocurrency transactions. The IRS letters include instructions to pay taxes, interest, and penalties.
2019-7-27 09:11 | |
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Coming guidance from the IRS is expected to clarify longstanding crypto tax questions. Here's what to look for.
2019-6-7 07:00 | |
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The Internal Revenue Service (IRS) announced Monday that a new joint force of tax enforcement authorities will combat international and transnational tax crimes – including cybercrimes facilitated through cryptocurrencies.
2018-7-4 08:16 | |
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In a bid to fight the threat of cryptocurrency tax crime, the United States Internal Revenue Service (IRS) has joined with tax authorities from Australia, Canada, the Netherlands and the United Kingdom to form the Joint Chiefs of Global Tax Enforcement (J5), according to a press release.
2018-7-4 23:36 | |
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The US Internal Revenue Service (IRS) has launched an international taskforce together with tax enforcement authorities from four other countries to take on cryptocurrency-enabled crimes, according to a press release published Monday, July 2.
2018-7-3 22:22 | |
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The U.S. IRS launches transnational taskforce together with tax enforcement agencies from four other countries to tackle crypto-enabled crimes
2018-7-3 19:31 | |
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As more investors trade in cryptocurrency, the national revenue watchdog IRS is also stepping investigations into two key issues in this realm, taxable gains which are not reported and tax frauds.
2018-6-30 15:01 | |
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Cryptocurrency has brought about uncertainty for investors for both investors and lawmakers. A significant point of contention is whether investors are obligated to pay taxes on their cryptocurrency transactions.
2018-6-30 06:10 | |
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The Internal Revenue Service (IRS) is stepping up its investigations into cryptocurrency-related tax fraud and unreported taxable gains. Clearer laws and guidelines are expected in the near future and could open the door to litigation and penalties against those who fail to cooperate.
2018-6-29 03:00 | |
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The Securities and Exchange Commission (SEC), recently, noted that Bitcoin and Ethereum could not be considered “securities. ” While this made investors cheer, there is still one complicated regulatory battle they have to win.
2018-6-22 14:31 | |
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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.