Cryptio Raises $10M to Make Crypto Accounting Easier

The back-office solution helps collect fragmented on-chain data for accounting and tax reporting purposes.

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Coinledger.io (formerly Cryptotrader.Tax) Review – Is This Bitcoin Tax Calculator Legit and Safe?

While crypto enthusiasts wait for more favorable regulatory winds to blow, reporting your cryptocurrency taxes is a real hassle. Well, it is a hassle if you try doing it manually or with some outdated calculator.

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Crypto Industry Battles to Exempt NFTs, DeFi From Tax Reporting Rules

The OECD is trying to introduce new rules to stop crypto being used to stash assets out of sight of the taxman.

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Taxpayers get a surprise as the IRS pushes for reporting on crypto assets

The 2022 tax season is coming to an end without many challenges.

The post Taxpayers get a surprise as the IRS pushes for reporting on crypto assets appeared first on CryptoSlate.

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Crypto wallet firm Ledger integrates tax solution to simplify reporting

The new tax integration aims to relieve crypto investors from having to manually calculate their tax bills.

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A Bitcoin Tax Reporting Nightmare Is Coming In 2023

As bitcoin investors prepare for tax season, they may not be surprised to learn that misguided regulation will make tax reporting even harder in the future.

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Form 1099-B Is Not the Solution to Your Cryptocurrency Tax Problems

Repurposing tax reporting designed for equity trading ignores the innovation brought about by wallet-to-wallet transactions.

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How Web 3 Could Change Tax Collection

A third-party information reporting system is incompatible in Web 3 because its transactions don’t have a third-party. What comes next?

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Top US crypto firms join the TaxBit network to offer users free tax forms

TaxBit, a crypto tax compliance firm, launched the TaxBit Network today with hopes that it will help democratize crypto tax calculations and tax forms by offering necessary reporting data. A report unveiled this news noting that the company seeks to unite leading crypto companies and offer their users free 2021 tax forms.

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Things to know (and fear) about new IRS crypto tax reporting

The new law redefines "cash" to include "any digital representation of value" including cryptocurrency, but in an anonymous system, is this going to work?

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Senator assures there will be clarity in US Infra bill's tax reporting requirements

The $1 trillion US Infrastructure Bill has sent waves of panic through the crypto community. Stakeholders across the ecosystem wonder whether they'll be able to comply with the bill's stringent reportThe post Senator assures there will be clarity in US Infra bill's tax reporting requirements appeared first on AMBCrypto.

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U.S. senators hurry to retroactively tweak the infrastructure bill concerning crypto

US senators Ron Wyden and Cynthia Lummis rush to tweak the controversial crypto provision, in an effort to narrow some of the new tax reporting rules outlined in the $1,2 trillion infrastructure bill President Joe Biden signed into law on Monday, Bloomberg reported.

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U.S. Senators Introducing Bill Limiting Crypto Tax in Biden’s Plan

A pair of U.S. senators are introducing a bill to limit some of the cryptocurrency tax reporting rules in President Biden’s infrastructure legislation. The post U.S. Senators Introducing Bill Limiting Crypto Tax in Biden’s Plan appeared first on BeInCrypto.

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U.S. Senators Seek to Amend New Crypto Tax Rules

A separate bipartisan bill aims to soften new cryptocurrency tax reporting requirements

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Infrastructure Bill Seeks To Obligate People To Report Bitcoin Payments Of Over $10,000 To The IRS

The tax change would extend the IRS cash payments reporting requirements to bitcoin and cryptocurrencies.

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Treasury Seeking More Crypto Reporting Requirements, Global Data-Sharing, in Reconciliation Package

The Treasury Department is looking to add more crypto reporting requirements in the reconciliation bill. On the one hand, the Treasury wants to introduce more rules for cryptocurrency transaction reporting; on the other hand, the officials of the department have been telling media that the crypto community’s fear about tax provision in the $1 trillion […] The post Treasury Seeking More Crypto Reporting Requirements, Global Data-Sharing, in Reconciliation Package first appeared on BitcoinExchangeGuide.

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Crypto language in the infrastructure bill is a political shell game, says Cointelegraph GC

According to Zachary Kelman, Republicans and moderate Democrats may know the tax reporting requirements for crypto firms are impossible, but want to have a provision to fund some of the projects without raising taxes.

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Как работает сервис «Налоговая отчетность» API на криптовалютной бирже Binance?

В конце июля ведущая международная биржа и блокчейн-экосистема Binance объявила о запуске сервиса для помощи в уплате налогов с криптовалюты. Этот инструмент под названием Binance Tax Reporting Tool API может помочь пользователям биржи формировать отчеты для подачи в налоговые органы, которые отражают движение цифровых активов на торговой площадке, а также получать историю транзакций более чем […] Материал Как работает сервис «Налоговая отчетность» API на криптовалютной бирже Binance? появился сначала на WHATTONEWS – Новости криптовалют.

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Treasury to the rescue? Officials to clarify crypto tax reporting rules in infrastructure bill: Report

Speaking on condition of anonymity, an official has reportedly told Bloomberg that the Treasury Department is planning to clarify the definition of “broker” in the recently passed infrastructure bill.

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US Treasury to Ease Crypto Concerns by Clarifying A ‘Broker’ Doesn’t Include Those Without Transaction Data: Report

The US Treasury Department is set to clarify what exactly entails “broker” for the purpose of reporting to the Internal Revenue Service after the crypto tax provision of the controversial $1 trillion bipartisan infrastructure bill was passed in its original form that overreaches to cover miners, developers, stakers, and validators to report information on clients […] The post US Treasury to Ease Crypto Concerns by Clarifying A ‘Broker’ Doesn’t Include Those Without Transaction Data: Report first appeared on BitcoinExchangeGuide.

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Crypto.com launches free tax reporting service in Australia: is CRO worth buying?

The Crypto. com Coin CRO/USD is the native cryptocurrency token. It serves the role of porting the Crypto. com chain. Crypto. com is a payment, trading as well as financial services company.   The next obvious step in Crypto.

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Senate rejects crypto tax reporting bill

On Monday, the US Senate rejected a bipartisan amendment to the infrastructure bill that involved reporting crypto gains to the IRS, CNBC reported. The amendment would have defined brokers as entities who would have to report these earnings as income in a 1099 form.

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Ethereum Tops $3,000 As Bull Rally Continues, Hitting Its Highest Level Since May

On August 7, Ethereum crossed above $3K in an ongoing crypto market rally, hitting a three-month high. ETH Is Breaking Out The past few days have been interesting for the crypto markets. Talk regarding dueling amendments to a cryptocurrency tax reporting requirement in the United States bipartisan infrastructure bill being passed in Congress has been […]

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Will U.S. Bitcoin Miners Be Exempted From New Tax Rules If Infrastructure Bill Proposal Goes Through?

A new proposal to amend the U. S. bipartisan infrastructure bill introduced to the Senate on Sunday could exempt cryptocurrency miners, those staking crypto, and users of their services from reporting and paying tax on their cryptocurrencies.

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Amendment To Controversial Crypto Tax Rule Still Insufficient

Senators Rob Portman and Mark Warner proposed an amendment on Thursday to the crypto tax reporting rule that was tabled days earlier by the senate infrastructural bill’s cryptocurrency provision. The new amendment states briefly that the proposed reporting requirements exclude proof-of-work mining as well as the sale of software and hardware that support hot and […]

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New Poll Shows Partisan Divide on Crypto Tax Reporting Crackdown

Republicans are far more likely than Democrats to oppose the draconian cryptocurrency provision in the infrastructure bill

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This is one way Binance was 'ready to assist regulators from around the world'

Binance announced launching a Tax reporting tool API. This new API tool will allow Binance users to track their crypto activities to ensure they are fulfilling the reporting requirements laid out by tThe post This is one way Binance was 'ready to assist regulators from around the world' appeared first on AMBCrypto.

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A Shift in Momentum: Binance Yields to Regulatory Pressure, the Definition of HQ Changing for CZ Too

Binance aims to move from its start-up origins to become a financial institution, but CZ isn’t leaving, rather is putting “commitment to compliance” as their top priority. The exchange has also launched the Tax Reporting Tool to help its users fulfill their tax reporting requirements.

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Binance запустила API для исполнения налоговых обязательств клиентов

Криптовалютная биржа Binance запустила новый API, позволяющий клиентам отслеживать свои транзакции с криптоактивами для исполнения налоговых обязательств. Introducing #Binance Tax Reporting Tool API!Track crypto activities and connect to third-party tax vendors to streamline reporting requirements.

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Biden Administration Proposing Collecting Data on Foreign Crypto Investors

This has been proposed as part of a global data sharing pitch that will help the US receive information from foreign governments on US individuals who are not reporting their crypto transactions and are dodging their US tax liabilities.

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CryptoTaxCalculator Partners with TaxScouts to Advance Tax Filing in the UK

Tax reporting for UK-incorporated crypto enthusiasts has never been so easy

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Deribit and CryptoTaxCalculator Partner to Streamline Tax Reporting

Cryptocurrency futures exchange Deribit has partnered with CryptoTaxCalculator in a bid to simplify tax reporting for traders. The CTC tool is easy to use and can directly import transaction data from Deribit and automatically generate your tax reports.

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U.S. Senator Formulating Bill to Eliminate Crypto Tax Evasion

Senator Rob Portman (R-OH) is creating a bipartisan bill aimed at making life harder for crypto tax evaders. In an interview on CNBC’s Squawk Box on April 20, 2021, the politician made it clear that his bill will foster better information reporting on bitcoin (BTC) and more.

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Ohio senator wants clarity for crypto tax reporting in proposed bill

Senator Rob Portman said lawmakers were "still pulling in information" on crypto to formulate the bill, implying he announced it to the public prematurely.

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South Korean City Threatens to Seize Cryptos From Tax Evaders

Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings.

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IRS Commissioner says Accurate Crypto Reporting Would Help In Closing the ‘Tax Gap’

Charles Rettig suggests legislation requiring transactions in cryptos to be reported the same as securities transactions. The post IRS Commissioner says Accurate Crypto Reporting Would Help In Closing the ‘Tax Gap’ first appeared on BitcoinExchangeGuide.

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George Soros Buying Up Bitcoin Infrastructure

“It’s everything from exchanges, asset managers, custodians, to the mundane like tax reporting on your crypto gains and everything in between.” So says Dawn Fitzpatrick (pictured), the chief investment officer of...

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Soros Fund Interested in Crypto Infrastructure Says CIO

“We’ve been making some investments into that infrastructure,” she told Erik Schatzker on Bloomberg’s Front Row. “I’d say it’s everything from exchange asset managers, custodians to the mundane, like tax reporting on your crypto gains, and everything in between.

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Coinbase and PayPal Invest in Crypto Tax Reporting Tool TaxBit

The firm provides a platform for automated tax reporting for both cryptocurrency users and companies. Thanks to their legal status as property in the US, every time an individual spends or trades a cryptocurrency, they’re potentially triggering a taxable event.

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Crypto taxes, reporting and tax audits in 2021

Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report.

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South Korea’s National Assembly Approves Amendment to Push Crypto Tax Rule to January 2022

South Korea is set to enforce its upcoming crypto tax law in January 2022 instead of the earlier proposition of October 2021. This will give crypto stakeholders operating within its jurisdiction one more year to sort out in-house tax reporting infrastructure.

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South Korea Postpones 20% Crypto Tax Policy to 2022

South Korea has delayed the enforcement of its crypto tax law until the start of 2022 providing ample time for exchanges to create the necessary machinery for accurate cryptocurrency financial reporting.

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Crypto Financial Reporting Standard Coming in 2021, Says OECD

As different countries create varying crypto tax policies, a unified reporting protocol for cryptocurrencies could help to promote tax transparency for the emerging virtual currency space. OECD Crypto Financial Reporting Standard May Precede EU’s DAC8 According to a Nov.

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Unified Crypto Tax Reporting Standard Coming in 2021, Says OECD Director

Crypto tax may soon see its own version of the Common Reporting Standard (CRS) as the Organisation for Economic Co-operation and Development (OECD) is reportedly working on a unified approach to handling virtual currency taxation.

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OECD tax director says international crypto tax standards are coming in 2021

The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year.

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Verady Launches Ledgible Crypto Partner Program

 Verady, maker of the Ledgible cryptocurrency tax, accounting, and financial reporting platform, today announced its Ledgible Crypto Partner Program. The Program is designed to aid accountants, tax preparers and bookkeepers in...

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Tax expert claims reporting is key in the process of filing crypto taxes

Wendy Walker, a solution principal at Sovos, a tax compliance firm, has come out to describe reporting as the most important part of filing crypto taxes. She disclosed this information during an interview on October 30, noting that crypto adopters should always report details of their transactions even if they don’t owe income taxes.

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Gemini and TaxBit partner to solve crypto tax issue

Prominent cryptocurrency exchange Gemini announced its partnership with the tax compliance firm Taxbit on Thursday. This step was taken by the exchange to automate and optimize crypto tax reporting.

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OECD Preparing Crypto Tax Reporting Framework for World’s Largest Economies

The tax framework may address questions surrounding wallet providers and income not derived from crypto sales.

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