2019-10-10 20:00 |
For the first time since 2014, the IRS is detailing how it will tax cryptocurrency holdings. Here's what you need to know.
Similar to Notcoin - Blum - Airdrops In 2024
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It is a widely recognized tradition of businessmen and investors globally who try to hide their actual income to reduce their tax burden. The cryptocurrency industry, with estimated 420 million users worldwide, follows suit.
2023-4-12 00:05 | |
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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.
2021-1-7 19:03 | |
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Speaking at the U. S. House Ways and Means Committee on June 4, 2019, U. S. Republican Congressman Ted Budd mentioned two crypto specific bills he hopes would witness unanimous support from the Congress.
2019-6-11 23:00 | |
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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 | |
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Swedish Man Linus Dunkers has filed a court case after being charged $885,000 in tax for Cryptocurrency trading. An amount he says is over three times all the profit he made, as per a report from SVT January 20, 2019.
2019-1-23 09:59 | |
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According to a statement published by the tax agency of Denmark, Monday (Jan 14), cryptocurrency trading will soon be taxed in Denmark. Furthermore, the country’s tax agency is now fully authorized to conduct information requests relating to cryptocurrency trading New Authority Seemingly, the Danish Tax Authority has made the move after receiving information from their Finnish counterpart in December 2018.
2019-1-16 04:00 | |
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Brazil’s tax authority has published proposals to regulate the cryptocurrency landscape over concerns digital assets are being used to launder money and evade tax. A document released by the Department of Federal Revenue of Brasil (RFB) disclosed plans that will force cryptocurrency traders to reveal their identities and for exchanges to submit financial reports to […] The post Brazil’s Tax Authority Goes After Cryptocurrency Profits appeared first on Bitcoin News.
2018-11-3 13:00 | |
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Since implementing the cryptocurrency tax regulation back in April 2018, the South African Revenue Service (SARS) appears not to be satisfied with the level of tax remittances by cryptocurrency investors in the region.
2018-8-21 12:00 | |
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The government of South Korea is considering a revision of a law which offers considerable tax benefits to cryptocurrency exchanges. A statement by the Korean government quoted in Coindesk today states that “cryptocurrency transaction brokerage is not effective in generating added value.
2018-7-31 03:05 | |
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Cryptocurrency = Asset Liz Russel, a senior tax agent at a private Australia online tax return service, shared some insights on the way theATO will be treating cryptocurrency gains and what people should expect.
2018-6-19 16:26 | |
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After moving to request all cryptocurrency exchanges to report to the country’s watchdog agency, the Australia Taxation Office (ATO) will be collecting Capital Gains Tax (CGT) on cryptocurrency gains, essentially classifying them as assets.
2018-6-19 13:00 | |
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First Russian resident reports income received from the purchase and sale of cryptocurrency in 2017.
2018-6-15 11:27 | |
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Filing taxes has always been a headache. To be absolutely sure of including all the data, computing everything to the point, and calculating each figure correctly gets troublesome. It is only so troublesome in fiat money, can you imagine what it would be like to file cryptocurrency tax? Aren’t cryptocurrencies tax-free? Yes and no.
2018-6-11 16:38 | |
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The IRS has announced the extension of the period for comments on crypto tax reporting requirements until January 25, 2024.
The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years.
The Internal Revenue Service released its newest FAQ and guidelines on taxing US nationals for crypto transactions. The updated guidelines may come as a surprise to those that once rejoiced because of hard forks and the “free” coins that came with them.
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.
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.
The IRS has begun contacting U.S. taxpayers, warning them about possible back taxes owed on their crypto holdings.