Moonday Mornings: The US is suing a cryptocurrency exchange owner to the tune of $100M

2019-7-29 10:55

Good morning, and welcome to Moonday Mornings. Let’s take a look at the cryptocurrency and blockchain headlines from over the weekend. 1. The US Internal Revenue Service (IRS) is going after digital asset traders and has begun sending them letters asking that they report their cryptocurrency holdings and pay their taxes, Coindesk reports.

The IRS said the individuals targeted with the letters were identified “through various ongoing IRS compliance efforts. ” Hide your Bitcoin people! 2. According to Gulfnews, the US is suing and seeking extradition of the Russian owner of a cryptocurrency exchange for violating the Bank Secrecy Act, and…

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Источник: thenextweb.com

cryptocurrency irs → Результатов: 76

IRS Sends Out Warning Letters To Crypto Holders

Following earlier reports this year that the US Internal Revenue Service was working to update cryptocurrency tax guidelines, the agency sent warning letters out to more than 10,000 crypto-holding taxpayers, advising them to submit an amended tax return if they didn't report their holdings.

2019-7-29 19:02	law and legislation
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IRS Warning Letters to Crypto Holders Marks a New Era of Regulation

The Internal Revenue Service (IRS) has sent out warning letters to over 10,000 different cryptocurrency holders, letting them know that the agency acknowledges their investment in digital assets and expects them to declare fair value of assets held on the date of receipt.

2019-7-28 15:47	News
cryptocurrency regulation irs assets warning letters holders

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U.S. Tax Collector Is After Thousands of Bitcoin Holders

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
tax irs letters holders thousands bitcoin 2019

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10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS

On July 26, the U. S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August.

2019-7-27 06:14
irs letters owners cryptocurrency american warning receive

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IRS Puts the Screws on US-Based Crypto Traders not Filing Taxes Properly

Cryptocurrency and taxes are often an unhealthy mix. While it is evident anyone owning cryptocurrency should pay taxes on their financial gains or losses, most US-based enthusiasts don’t think so.

2019-7-27 22:30	Taxes
taxes irs us-based crypto properly cryptocurrency traders

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PSA: The IRS Knows All About Your Secret Bitcoin Trades

The only thing that’s certain in life is death and taxes. For buyers of Bitcoin and other cryptos, the latter has come, as the IRS is now pumping out an avalanche of notices to more than 10,000 cryptocurrency investors who probably haven’t been upfront about their trades.

2019-7-27 22:07
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IRS Says It’s Sending Warning Letters to US Cryptocurrency Owners

The IRS has begun contacting U.S. taxpayers, warning them about possible back taxes owed on their crypto holdings.

2019-7-27 19:45
warning irs possible back taxes owed holdings

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Around The Block With Jeff And Dave – July 15, 2019

Bitcoin touches $10,000 again, but what does the fed have to do with tt? Donald Trump breaks his silence on bitcoin. We analyze his tweets in detail. Have you bought or sold crypto in the U. S. ? The IRS is coming for you! And we also interview Han Kao of CoinMarketCap’s Accountability Board and more! JoinRead MoreRead More.

2019-7-16 19:30
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IRS devising more sophisticated ways to keep track of people evading tax on cryptocurrency earnings

The United States’ Internal Revenue Service is in the news again after a new method of its to keep a tab on those who evade tax on their cryptocurrency earnings came to the fore. According to a 181 slide presentation, James Daniels, IRS-CI’s cyber-crime program manager, laid out a plan of extracting information from taxpayers, […] The post IRS devising more sophisticated ways to keep track of people evading tax on cryptocurrency earnings appeared first on AMBCrypto.

2019-7-10 02:30	Social
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IRS Expected To Update Crypto Tax Guidelines

In 2014, the IRS announced cryptocurrency was subject to capital gains taxes, creating an accounting nightmare lawmakers have been eager to update to add clarity and promote crypto usage.

2019-7-9 23:49	law and legislation
irs update crypto lawmakers nightmare accounting add

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The IRS Is Set to Update Guidelines for Cryptocurrencies

After a request from a group of lawmakers, the IRS is expected to update its guidance for cryptocurrencies, first set in 2014. A July 6, 2019, report by the Wall Street Journal indicates that the U.

2019-7-9 21:00	Taxes
crypto cryptocurrency cryptocurrencies set irs update investorsread

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What a bit! US Government VS Cryptonites

With the rise of cryptocurrency, it makes sense bitcoin investors are in the crosshairs of not one but two government agencies, DOJ and IRS. Let’s watch my take on this Make sure to subscribe CCNMarkets on Youtube: https://bit.

2019-6-27 20:10	tax
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US Justice Department & IRS Are in Hot Pursuit of Bitcoin Tax Evaders

By CCN Markets: The bitcoin price rocketed past $10,000 for the first time since 2018, and crypto fans are celebrating. But they’re not the only ones noticing the budding cryptocurrency bull market.

2019-6-24 18:45	IRS
bitcoin irs tax justice department evaders crypto

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IRS Set to Introduce Clear-cut Cryptocurrency Tax Rules

The IRS appears to have listened to concerns raised by various parties concerning clear cryptocurrency guidelines. As Coincenter reports, the tax administrator responded to a letter by a bi-partisan group of the U.

2019-5-24 20:29	Taxes
cryptocurrency tax irs upgrade soon readies supplementary

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IRS Commissioner Makes Crypto Tax Clarity a Priority

The U. S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers.

2019-5-21 20:54	Regulation
irs tax emmer rettig clarity 2019 issues

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IRS Plans to Issue Guidance on Virtual Currency Taxation

Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U. S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official tax guidelines.

2019-5-21 18:20	US government
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Of Course, The IRS is Updating Its Bitcoin Tax Guidelines as Price is Rising

With Bitcoin spiking more than 120 percent since the start of 2019, the U. S. Internal Revenue Service (IRS) says it is readying an updated set of guidelines to cover cryptocurrency taxation. IRS Preparing Additional Crypto Tax Guidelines In a letter to a bipartisan group of U.

2019-5-21 18:00	IRS
guidelines irs tax bitcoin letter updating 2019

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IRS Claims to Prioritize Tax Rules for Crypto Investors but Lacks Urgency

By CCN: Cryptocurrency investors may soon have more clarity on how the IRS will tax their holdings now that the agency has said it is making that a priority. The latest IRS acknowledgment of crypto taxation issues is in response to members of Congress.

2019-5-21 03:50	IRS
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US Tax Authority Prioritizes Issuing Guidance on Cryptocurrencies

The U.S. IRS states that the agency “made it a priority” to issue relevant guidance on cryptocurrency taxation

2019-5-21 00:40	Cryptocurrencies
guidance priority made taxation issue agency cryptocurrency

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IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014

The Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency's commissioner told a lawmaker Monday.

2019-5-21 23:27	Government
guidance 2014 tax working cryptocurrency agency monday

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Crypto Whiz John McAfee ‘Goes Dark’, Twitter Conspiracy Theorists Go Nuts

By CCN: Cryptocurrency maverick and U. S. 2020 presidential candidate John McAfee announced Thursday that he was going offline fearing for his life and freedom, prompting speculation and wild conspiracy theories on social media.

2019-5-18 17:41	U.S.
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Will the IRS Will Be Watching Over Testing of the New Coinbase Card in the United Kingdom

Coinbase’s crypto debit card provider recently shut down, causing the company to move to PaySafe. The IRS will seek out transactions that can have taxes imposed on the US-based Coinbase card. Coinbase is one of the many platforms in the cryptocurrency space that continues to innovate for the sake of supporting their customers. With retail […]

2019-5-11 02:47	Coinbase
coinbase card irs one many platforms imposed

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IRS Fugitive John McAfee Wants You to Stop Sending Him Bitcoin

By CCN. com: The crazy world of John McAfee has become just a little bit stranger, with the one-time cryptocurrency promoter and all-round interesting guy issuing a plea to his Twitter followers to stop sending bitcoin to his wallet.

2019-5-7 16:25	John McAfee
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Authorities Dismantle Shadow Bank That Handled ‘Hundreds of Millions’ for Crypto Exchanges

An Arizona Man and an Israeli woman have been charged in connection with providing “shadow banking services” to cryptocurrency exchanges — involving millions of dollars. The two individuals were charged by the United States Attorney for the Southern District of New York, the Federal Bureau of Investigation (FBI), and the Internal Revenue Service (IRS) in a criminal investigation.

2019-5-2 14:00
millions exchanges bank shadow hundreds authorities charged

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Indictments Issued for Two Individuals for Running “Shadow Banking” Operation

U. S. Attorney's office for the Southern District of New York has charged two individuals for providing “shadow banking” services to crypto exchanges. According to a statement by Geoffrey S.

2019-5-2 23:54	Law & justice
two accounts bank exchanges individuals shadow banking

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The Rise of Economic Development Zones: A Way To Mitigate Crypto Taxation?

Taxation frustrates many in the cryptocurrency community. Investor capital gains along with Coinbase’s well-documented jockeying with the IRS, taxes continue to be an ongoing concern. There is some good news however on the U.

2019-5-1 16:00	#investment
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Craig Wright issues another legal notice, Weiss Ratings on Bitcoin and more

Crypto News – 13 April – Craig Wright issues another legal notice, Weiss Ratings on Bitcoin and more Don’t forget to follow us for the daily video@IRSnews @WeissRatings @PeterMcCormack #bitcoin #cryptocurrency #CryptoNews #Crypto #IRS pic.

2019-4-14 19:00	News
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U.S. Reps Tell IRS to Publish New Crypto Tax Guidelines

Since it has now become mandatory for digital assets traders to remit taxes, 21 members of the United States Congress, led by congressman Thomas Earl Emmer, have jointly sent a bipartisan letter to the United States Internal Revenue Service (IRS) urging it to publish new guidelines on crypto tax remittance, according to a press releaseRead MoreRead More.

2019-4-13 19:00	United States
guidelines united states new publish irs tax

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US Congressmen urge IRS to provide clarity on cryptocurrency taxation laws in new joint letter

Government institutions in the United States of America have played a pivotal role in controlling the fate of cryptocurrencies and the digital asset market, in general. One of the main issues that lawmakers and government officials raise is the taxation on cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH], which was discussed again in a recent […] The post US Congressmen urge IRS to provide clarity on cryptocurrency taxation laws in new joint letter appeared first on AMBCrypto.

2019-4-12 17:00
taxation new joint government letter cryptocurrencies urge

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Op Ed: Answering 10 Common Questions About Cryptocurrency and Taxes

Depending on what country you live in, your cryptocurrency will be subject to different tax rules. The questions below address implications within the United States, specifically, but similar issues arise around the world.

2019-3-29 18:20	Op-ed
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Ethereum Price Analysis: ETH Sell-off, Will Bears Re-test $100?

Today's Ethereum News It may be grappling with scalability issues, dealing with claims that the foundation is underpaying lead developers triggering departure and complains of roadmap delays. Constantinople, the second stage implementation of Metropolis is an example.

2019-3-25 16:48	Price Analysis Charts
ethereum implementation metropolis stage second delays permissionless

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5 Essential Tips for Preparing Your Cryptocurrency Taxes

Paying taxes on Bitcoin and other cryptocurrencies is becoming a priority for individuals in the US after the IRS announced on July 2nd, 2018 that one of their core campaigns and focuses for the year is the taxation of virtual currencies.

2019-3-4 20:57	Bitcoin
taxes your cryptocurrency essential property tips preparing

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After Coinbase Failed To Abide By IRS Notice 2014-21, Longtime Trader Files Official Complaint

After Coinbase Failed To Abide By IRS Notice 2014-21, Longtime Trader Filed Official Complaint The United States Internal Revenue Service has certain requirements for the cryptocurrency industry, though they are still sorting out certain regulations.

2019-3-2 20:32	News
notice 2014-21 official trader certain complaint coinbase

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Blockchain Support Group ‘Chamber of Digital Commerce’ Requests US Govt for Crypto Guidelines

Across the world, various governments have successfully implemented blockchain strategy. However, in the United States, such efforts have stalled. In 2018, the IRS was publicly criticized by a member of Congress for not creating a specific tax code for cryptocurrency.

2019-2-21 21:31	News
blockchain commerce chamber digital group congress creating

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Some Bitcoin Investors Aren’t Planning to Share Their Losses With the IRS

According to a new survey of 1,000 people conducted by Credit Karma, around 50% of Bitcoin investors are planning not to tell the IRS about their losses from last year. Attorneys, however, suggest that failing to report investment gains and losses to the IRS could lead to severe consequences for the taxpayers.

2019-2-3 18:39
bitcoin losses irs investors planning share aren

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Intuit’s Turbo Tax Adds a New Option if Transacting or Selling Cryptocurrencies for IRS Tax Returns

In the United States, the Internal Revenue Service (IRS) will be knocking cryptocurrency users’ doors explaining that it is mandatory to inform crypto trades and pay the related taxes on them. Investors, holders, and other individuals must be compliant with this issue.

2019-1-30 20:59	News
irs cryptocurrency trades tax individuals must holders

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Trader’s Reprieve: Turbo Tax now has a “I sold or Traded Cryptocurrency” option

It’s around that time of the year and as government workers resume after one of the longest shut-down in US history, the IRS will soon be ready to knock on your doors. Like everywhere else, filing for taxes is a mandatory and crypto traders, investors and holders must comply.

2019-1-29 14:30
option trader else cryptocurrency sold tax reprieve

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Understanding the IRS and Cryptocurrency: Penalties, Tax Evasion, and Compliance

Delinquent federal and state tax filings or unreported 2017 or prior tax years’ transactions may force taxpayers dealing in crypto to liquidate significant positions in cryptocurrencies at lower values to pay outstanding tax liabilities to the IRS, including interest and penalties.

2019-1-25 14:30	Taxes
tax penalties irs understanding evasion cryptocurrency 2017

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Bitcoin Bull John Mcafee to Lead 2020 Presidential Campaign While Fleeing IRS Indictment

CoinSpeaker Bitcoin Bull John Mcafee to Lead 2020 Presidential Campaign While Fleeing IRS Indictment Cryptocurrency proponent John McAfee revealed that the IRS has convened a grand jury to charge him, his wife, and four of his campaign workers, with ‘unspecified’ crimes of felonious nature.

2019-1-24 13:41
campaign mcafee irs john fleeing indictment 2020

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McAfee Hunted by the IRS But Will Still Run For President ‘In Exile’

Controversial cryptocurrency proponent John McAfee revealed that the IRS has convened a grand jury to charge him, his wife, and four of his campaign workers, with ‘unspecified’ crimes of felonious nature.

2019-1-24 02:00	Taxes
mcafee irs exile hunted jury convened grand

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Chilean Taxpayers Must Report Cryptocurrency Profits to Chilean IRS: Local Media

Cryptocurrency profits must be reported to the Chilean Internal Revenue Service by local taxpayers, local crypto media reports

2019-1-20 17:55	Fiat Money
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BiExpert Claims IRS can Boost Bitcoin’s Value Once One Can Pay Taxes with BTC, Worthless Otherwise

There are those who argue that cryptocurrency does not any inherent value, but the counter to that is that paper money is valueless as well. The latter argument may not be viable though, especially because fiat currencies are “backed” by the government.

2018-12-14 20:45	News
value comes especially fiat currencies though latter

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Finland Hands Over Info for 2,700 Danish Traders to Denmark’s Tax Agency

Finnish tax authorities have handed over information on 2,700 bitcoin traders to its Danish counterpart, Skattestyrelsen (SKAT). According to a press release, the traders used an undisclosed Finnish exchange to collectively purchase and sell some $15.

2018-12-14 03:12	Bitcoin
bitcoin tax information traded exchange traders taxable

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US Law Professor: Confusing Cryptocurrency Regulations Will Hamper Innovation

Carol Goforth is a professor at the University of Arkansas School of Law. She recently published a paper about the consequences of having cryptocurrency regulations fall under a number of conflicting laws, defined by various U.

2018-12-11 05:50	USA
regulations cryptocurrency law professor confusing hamper number

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Bithumb Overtook Binance as Largest Spot Exchange by Daily Volumes in November

Cryptocompare, the cryptocurrency market data aggregator, has published its monthly exchange review for November 2018, offering insights about the latest changes in the global market using transaction data from over 70 trading venues.

2018-12-7 00:40
exchange november report data market bithumb volumes

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Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year.

2018-12-7 23:00
tax filings cryptocurrency accounting loss claims firm

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IRS to Face Record Number of Loss Claims, Says Crypto Accounting Firm

Node40, a developer of bitcoin tax-reporting software, expects the U. S. Internal Revenue Service (IRS) to receive a record number of cryptocurrency-related tax return claims this year, as it predicts that many investors will decide to declare their losses.

2018-12-6 16:55
claims irs crypto number record bitcoin face

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Understanding Cryptocurrency Taxes: How to Calculate Your Bitcoin Taxes 101

You made big money trading Bitcoin but you don't know how to calculate your IRS tax bill? Learn how to figure your Bitcoin capital gains taxes right here. The post Understanding Cryptocurrency Taxes: How to Calculate Your Bitcoin Taxes 101 appeared first on CoinCentral.

2018-12-5 22:12
taxes your bitcoin calculate 101 understanding cryptocurrency

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Op Ed: Cryptocurrency’s Unrealized Opportunities for U.S. Tax Professionals

The market for cryptocurrency tax services is growing rapidly, and it is providing forward-thinking tax professionals with an opportunity to capture oversized profits.

2018-11-15 16:58	Op-ed
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2019-7-29 10:55

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