IRS aims to tax NFTs in line with other collectibles

2023-3-22 21:14

The IRS is taking steps to tax NFTs like other collectibles, proposing a new framework for public review and comment. The Internal Revenue Service (IRS) is taking steps to ensure that NFTs are taxed similarly to other collectible items. This…

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nfts irs collectibles steps taking tax ensure

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Источник: btcmanager.com

nfts irs → Результатов: 13

IRS calls for public feedback on taxing NFTs as collectibles

Those wishing to offer feedback to the IRS on having NFTs treated as collectibles, such as coins or works of art, have until June 19 to submit comments.

2023-3-22 20:00	United States
nfts irs collectibles feedback art works coins

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IRS Seeks to Tax NFTs Like Other Collectibles

Digital proofs of ownership will be taxed like the underlying assets until rules on how to treat assets in retirement accounts are finalized

2023-3-22 17:56	УС
like assets rules underlying until finalized accounts

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CryptoSlate Wrapped Daily: IRS classifies NFTs as digital assets; retail investors group seeks to track down Do Kwon

The biggest news in the cryptoverse for October 19 includes the IRS classifying NFTs as digital assets for tax purposes, Cardano NFTs becoming the next gold rush, Blockchain advocacy groups filing a motion to support Grayscale in the lawsuit against SEC, and top 10 metaverse tokens crashing as interest wanes.

2022-10-20 01:40	Wrapped
nfts assets irs digital filing motion support

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IRS announces key changes for NFTs in latest tax guidelines

The United States Internal Revenue Service (IRS) has released an updated draft of the 2022 tax form which has provided clarity regarding the guidelines for taxes pertaining to the crypto industry, moThe post IRS announces key changes for NFTs in latest tax guidelines appeared first on AMBCrypto.

2022-10-20 18:00	News
guidelines irs tax nfts key changes latest

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US tax watchdog classifies NFT as digital assets for tax purposes

The United States Internal Revenue Service (IRS) could begin to tax non-fungible tokens (NFTs) as it has classified them as digital assets alongside virtual currencies in its updated draft instructions for the 2022 tax year.

2022-10-19 15:45	УС
tax digital assets alongside virtual classified currencies

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IRS Expands Key US Tax Language to Include NFTs

Newly released draft instructions for the 2022 tax year change the language from “virtual currency” to broader “digital assets.”

2022-10-19 02:37	Business
language tax change year 2022 virtual digital

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Important Info about the future of NFT taxing in the US

Earlier this year, the US made the process of NFT trading easier by making sense of the tax and investment ramifications of NFTs and Crypto assets. Knock Knock; it’s the IRS NFTs and crypto assets are fun and games until the tax person comes knocking for their cut.

2022-3-24 04:04	Latest News
assets crypto knock nft tax nfts irs

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How are cryptocurrency taxes reported?

Cryptocurrencies and NFTs are viewed differently than other investments by the IRS, making for a complex tax landscape.

2022-3-4 00:00	Investing
investments differently viewed irs tax landscape complex

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Crypto Tax Compliance Remains Minefield as IRS Leaves Key Questions Unresolved

A lack of guidance on everything from staking rewards to NFTs means there’s a certain amount of guesswork involved in tax filings.

2022-2-25 17:20
tax nfts means rewards staking certain filings

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IRS Called Cryptos And NFTs A Mountain Of Fraud

The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap.

2022-1-28 23:00	NFTs
irs fraud whether unfortunately laundering celebrity manipulation

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Why The IRS Sees “Mountains Of Fraud” In Crypto And NFTs

As it grows, the crypto industry and its sectors attract more attention from regulators and political actors. In the United States, this industry seems poised for more hostility from the current administration as it is increasingly compared with illegal activities.

2022-1-27 21:00	NFTs
industry crypto poised illegal activities seems states

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The IRS Hopes To Recover Billions In Taxes From Evading NFT Traders

According to a recent report by Bloomberg, the Internal Revenue Service now hopes to net Billions of Dollars in taxes from evading NFT traders. Shilled as the hottest sector now in the crypto ecosystem, the Non-Fungible Tokens (NFTs) market share has been spiraling at an unprecedented rate raking in Billions of dollars, most of which […]

2022-1-17 20:43	Cryptocurrency News
billions nft dollars evading traders hopes taxes

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Bought NFTs? There’s A Tax For That, And Other Ways The IRS Is Eyeing Crypto

NFTs volume is dropping after an initial bubble-like storm of interest and millions pouring into the emerging digital goods market. But it could be because crypto investors are realizing as they wrap up last year’s taxes – extended to May 17 in the United States – that buying such tokens with Ethereum results in a […]

2021-4-15 18:21	United States
crypto nfts wrap year taxes investors realizing

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Trump’s Betting Odds Slip On Polymarket As Harris Gains Momentum

Recent data from Polymarket reveals a shift in betting odds between former President Donald Trump and Vice President Kamala Harris. Trump’s winning odds, which peaked at 67% on October 30, have since dropped to 58.

UAE and Switzerland lead as premier locations with no crypto tax, research finds

A recent research report by Coincub and Blockpit highlights how varying tax policies, from zero taxes in the UAE to high rates in the U.S., shape crypto investment strategies. The crypto taxation landscape varies widely across the globe, as revealed…

Mask Network token surges; open interest hits 7-month high

The Mask Network token rose for three consecutive days, reaching a high of $3.23, its highest level since June 10. Mask Network (MASK), a privacy-focused platform, has risen by 108% from its lowest level this year, bringing its market cap…

Democratic trifecta state rumored to introduce a Bitcoin Rights Bill

Co-founder of Satoshi Action Fund, Dennis Porter, claims a Democratic lawmaker is planning to introduce a legislation that would protect the rights of Bitcoin holders in a Democratic trifecta state, known as the Bitcoin Rights Bill. According to a post…

Florida CFO wants state pension fund to invest in Bitcoin

Florida chief financial officer, Jimmy Patronis, is requesting the State Board of Administration to consider including Bitcoin in Florida’s state pension funds. On Oct. 29, Patronis sent a letter addressed to Florida State Board of Administration executive director, Chris Spencer,…

BTC dominance nears 60% — Will November’s rate cuts and election push Bitcoin past $100K?

Will Bitcoin’s near-60% dominance surge translate into a breakout above $100K with the help of November’s market-shaping events, or will unexpected factors derail BTC’s upward journey? BTC dominance holds strong amid market shifts As autumn peaks, Bitcoin’s (BTC) market dominance—the…

US and Nigeria form alliance to fight crypto crime

The United States and Nigeria have launched the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies in an effort to counter cybercrime and illicit financial activities involving digital assets, such as cryptocurrency.

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2023-3-22 21:14

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