U.S.: Cryptocurrency Investors Are Better Off Declaring Their Holdings and Paying Their Taxes

2019-8-2 01:00

The IRS has sent warning letters to over 10,000 customers who have used Coinbase and can be declared as crypto investors with full confidence. Many experts have weighed in to offer their advice to retail investors, encouraging them to declare their assets and pay their taxes instead of trying to skirt by regulation.

Those whoRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\.

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Источник: btcmanager.com

investors taxes → Результатов: 56

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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Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision?

Some investors put crypto in a trust that holds crypto assets. What are the specifics? A Tax lawyer comments

2019-7-6 14:21	USA
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Analyzing Cryptocurrency Taxes, The Investing In Opportunity Act And Economic Zone Investment

Economic Development Zones And Crypto Tax President Trump’s 2017 tax cut features a section on how real estate and other taxable assets will be treated under the tax provisions. The section, known as Investing in Opportunity Act and Opportunity Zone Investment Program, may enable investors to defer and eliminate their future capital gains in what […]

2019-5-2 20:20	Bitcoin Innovation
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Australia Chases Crypto Investors for Every Tax Dollar Owed in Shakedown

By CCN. com: It will now be harder for Australians to under-declare or over-declare the taxes they owe on their crypto holdings or transactions. This follows an announcement by the Australian Taxation Office (ATO) that it will collect bulk records from cryptocurrency businesses in the country.

2019-4-30 12:37	tax
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Op Ed: We Just Launched the First Cryptocurrency-to-Tax Payment Partnership

Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.

2019-4-23 17:42	Adoption
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It’s 2019 But Most Bitcoin And Crypto Investors Refuse To Report Taxes Due To Lack Of Clarity

Most Bitcoin And Crypto Investors Refuse To Report Taxes Not many Bitcoin and crypto investors will pay their taxes this year, it seems, at least the taxes that they should pay for their Bitcoin and crypto trading.

2019-4-13 18:32	News
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Overwhelming Majority of Bitcoin and Crypto Investors Refuse to Report Taxes

As the tax deadline draws closer, crypto investors will need to review their losses and gains related to their Bitcoin and altcoin holdings, and determine if they are required to report them on their taxes.

2019-4-13 23:00
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IRS Gets Another Nodge by Over 20 Lawmakers to Share More Feedback Regarding Tax Rules

There is a curious situation happening in the United States right now. It is as if the Internal Revenue Service (IRS) simply do not want crypto investors to pay their taxes. Before you commemorate, though, you should that they really want you to pay your taxes, they just simply cannot find a way to explain […]

2019-4-12 02:40	News
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It’s April 2019 Most Common Questions Bitcoin Users Have Regarding Cryptocurrency and Taxes

Many crypto investors today are full of common misconceptions that might actually end up affecting them in an adverse manner later down the line. For example, a lot of people are still under the impression that crypto assets are not taxable and thus can be used to circumvent the existing income tax laws of different […]

2019-4-1 14:38	News
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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
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Here are the 5 hottest startups in Ireland

With one of the lowest corporate taxes in Europe (only 12. 5 percent compared to Britain’s 23 percent and France’s 33. 3 percent) and laxer regulations, almost every major tech company has chosen Ireland as the site for their European headquarters.

2019-2-12 14:15
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Cryptocurrency Independence Under Threat As Regulation Encroaches

For governments, cryptocurrency is becoming too mainstream to ignore and too chaotic to neglect. Across the world, government agencies are targeting crypto investors not only with taxes but mandatory registration and full disclosure rules.

2019-2-4 16:03	УС
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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
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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
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Coinbase Integrates TurboTax to Help US Clients File Crypto Taxes

TurboTax is partnering with Coinbase and four other crypto startups to help U.S. investors properly file their taxes for 2018.

2019-1-25 01:00
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Chile Bitcoin Investors to Pay Crypto Taxes in 2019 Per Servicio de Impuestos Internos, SII Latest Notice

Individuals in Chile will have to pay taxes on cryptocurrency earnings this year. The Internal Revenue Service (SII) of the country informed that cryptoassets will also have to be filled on the Annual Income Tax Returns.

2019-1-20 01:43	News
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Majority of Bitcoin Investors Not Deducting 2018 Losses from Taxes, Claims Recent Report

It’s no secret that many relatively new investors in the cryptocurrency markets have seen massive monetary losses that have resulted from the persisting bear market that first began in late-2017 when Bitcoin began falling from its highs of nearly $20,000.

2019-1-17 03:00	Taxes
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Tax Tips and Strategies for Cryptocurrency Investors

In a few months, it’s tax season again, and for holders looking for big savings, tax planning begins now. Doing taxes can be taxing, outside of the stress of interests and penalties; for the crypto holder or investor, these tax tips and strategies will likely be beneficial.

2019-1-3 23:00	BNC insights
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There May Be (Some) Tax Relief Options if You Sold Your Bitcoin at a Loss

For investors whose first time investing in bitcoin was in 2018 or after late 2017, there is a high likelihood that they have incurred substantial losses for the fiscal year of 2018 if they haven’t sold yet.

2018-12-29 02:01	Regulation
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Bitcoin Investors Could Enhance Tax Savings by Selling and Repurchasing their Crypto Assets

According to a recent article published by The Wall Street Journal (WSJ), investors should sell and re-purchase their Bitcoin (BTC) in order to reduce the amount of taxes paid. The WSJ suggests that one of the positive things about the current bear market is that it gives a tax break. In the United States, the […]

2018-12-22 10:22	News
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Wall Street Journal Suggests ‘Quick Sale, Repurchase’ of Bitcoin ‘May Lower Your Taxes’

An article from The Wall Street Journal has suggested investors should sell and then repurchase their Bitcoin (BTC) as a strategy to save on taxes

2018-12-22 16:13	USA
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British Revenue and Customs Agency Clarifies Law on Crypto Taxes

The British government has recently released a policy paper clarifying the tax laws on crypto assets. This fairly straightforward document was released on Her Majesty’s Revenue and Customs’ (HRMC) website, holding a sundry list of important crypto space terms, the relevant tax codes and points of intersection between the two.

2018-12-21 23:09	Regulation
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UK Tax Agency Releases Guide For Crypto Investors

The agency’s extensive report outlines what individuals must document on their taxes, with future reports set to handle cryptoasset transactions involving businesses and companies.

2018-12-20 23:32	law and legislation
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UK’s Her Majesty’s Revenue and Customs (HMRC) Creates New Crypto Asset Guidance For Investors

The official tax agency of the United Kingdom, known as Her Majesty’s Revenue and Customs, has just released a set of guidelines that are meant to guide crypto investors and token holders on how they should pay their taxes and how they should see their digital assets. According to the report made by the tax […]

2018-12-19 20:02	News
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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
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Crypto Taxes 2019: How to File Your Bitcoin Profits and New Crypto Gains with the IRS

The last two years have brought a lot of popularity to cryptocurrencies, and the awareness of them has surged like never before in the previous decade of their existence. Countless investors started flooding the crypto market, and the coins' value grew as a result, which only served to attract new would-be investors. The prices were […]

2018-12-12 21:30	News
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Israel Regulatory Bodies for Taxes Announce Mission to Find Profitable Crypto Sellers for Tax Evasion

The tax-collection organisation that operates within Israel has announced that it will be taking on a newly firm stance against cryptocurrency-based traders and Investors operating within the country.

2018-12-9 22:19	News
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Governments Are Taking Wrong Approach to Cryptocurrency Taxation

Cryptocurrency, Taxes–Earlier today EWN reported on a development by several different countries, including Japan, to impose more severe regulations and protocols for catching so-called “cryptocurrency tax evaders.

2018-12-5 02:01
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Spain Monitors 15,000 Cryptocurrency Investors to Curb Tax Evasion

Spain’s Ministry of the Treasury has identified 15,000 cryptocurrency investors it will monitor to prevent tax evasion and money laundering, according to local media reports. The ministry has vowed to ensure that the investors pay taxes on capital gains from digital currency transactions and that they declare any other benefits accrued from trading.

2018-11-22 04:10
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Spain: Financial Watchdog Intensifies Efforts to Make Cryptocurrency Holders Pay Tax

It may soon no longer be business as usual for bitcoin (BTC) and altcoins investors in Spain as the nation’s tax authority, the Agencia Estatal de Administracion Tributaria (AEAT), has reportedly identified at least 15,000 distributed ledger technology (DLT) based virtual currency holders and is now set to make them pay taxes, reported Finance Magnates on November 20, 2018.

2018-11-22 01:00	tax
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France is planning to impose taxes on ICOs

France wants cryptocurrencies to be issued in the country as long as those backing them agree to be regulated, Reuters reported. If coin issuers sign up to regulation, the French argue they will be seen as more trustworthy by investors, helping the currency gain credibility in the long run. France will even offer certification if […]

2018-11-17 18:25	Taxes
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Bitcoin Investors and Traders Are Evading Crypto Taxes with a Little-Known ‘Lending Loophole’

In a recent article published by Venture Beat a few days ago, there are some cryptocurrency traders that are avoiding taxes in their country. At the moment, every single crypto-to-crypto trade is considered a taxable event.

2018-11-14 18:27	News
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Crypto Regulation Roundup: More Cryptocurrency Control Urged in South Korea and Thailand, France Plans to Ease Crypto Taxes

South Korea’s lawyers have lobbied the government to establish a better legal framework around blockchain that would help develop the industry and protect investors. More regulation was also urged in Thailand, where on November 7, 2018, the Deputy Prime Minister has called for more measures to control cryptocurrencies and prevent them from being used to fund terrorism.

2018-11-9 00:00	Thailand
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After Making Over $800K From Crypto, One Investor Now Owes The Government $400K In Taxes

We have all heard about the crypto millionaires; people who invested in cryptocurrencies before the rest of us had a clue about what Bitcoin was. These investors saw their investments rise 10, 20 and even 50 times and reaped millions of dollars in months.

2018-11-6 02:43
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College Kid Cries for help after losing $755,000 in the Bearish Crypto Market Whilst in Depth Over Taxes

The bearish market has taken a toll on a handful of cryptocurrency traders. While a lot of investors have withdrawn their funds, a few others are weeping over the intense damages and losses they are left with.

2018-11-4 22:55	tax
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IRS Advisory Committee Requests Clearer Guidance for Crypto Tax Code

On October 24, 2018, an advisory committee to the Internal Revenue Service (IRS) published a report calling for clarity on the IRS’s position toward cryptocurrency taxation.

2018-10-27 20:34	Digital assets
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Spain Approves Bill Requiring Disclosure of Cryptocurrency Assets

The Spanish government has approved a draft anti-fraud law that, among other things, will require investors in cryptocurrencies such as bitcoin cash to declare all of the assets they hold at home and abroad, according to local media reports.

2018-10-23 17:15	tax
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Cryptocurrencies Could Emerge As Top Save Haven For Chinese Investors Amidst Govt Crackdown

The Chinese government has decided to tight policies that target investors in the country and that hold their wealth overseas with the intention to avoid paying taxes. However, these investors that are now threatened by the government might move to cryptocurrencies and avoid being investigated by Chinese authorities. Most of the Chinese investors with offshore […]

2018-10-15 18:24	News
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Israel is Saving Millions for Crypto Investors, Cuts Down Crypto Taxes by 50%

Cryptocurrency investors in Israel can heave a sigh of relief as the government looks for alternative and more transparent ways to calculate taxes for the industry which will lead to “real tax calculation.

2018-10-10 00:11	Israel
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Congressional Committee Calls for Clearer Crypto Tax Code in Letter to IRS

In an open letter to the Internal Revenue Service (IRS), the U. S. House’s Committee on Ways and Means argues that the tax collection body is leaving investors in the lurch with its vague cryptocurrency tax codes.

2018-9-21 23:35	Regulation
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Crypto Investors Could Benefit from Tax Cuts on Capital Gains from Boris Johnson

Boris Johnson Calls For Tax Cuts On Capital Gains Boris Johnson, a State Secretary in the United Kingdom, has called for a Trump-style tax cuts on income taxes and capital gains. He followed the promise that Trump made on his campaign to cut taxes by $1.5 trillion as a way to add fuel to the […]

2018-9-11 03:31	News
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[promoted] Equity Trust Builds New Frontier of Crypto-Based Retirement Accounts

Index funds have more than proven their worth as a preferred option for those with an eye on retirement. But now there is conversation about the value of adding bitcoin and other cryptocurrencies to this investment mix.

2018-9-11 16:58	Bitcoin
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IRS Considering Tax Guidance for Hard Fork “Hodlers”

Over the past two years, there have been many airdrops, hard forks, scam coins and other events. As investors scramble to participate in these events, CPA’s and tax professionals are struggling to keep up with the rules and regulations.

2018-9-1 08:00	IRS
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[promoted] Equity Trust Forges a New Path for Crypto-Based IRA Investments

Asset diversification has long been touted as a critical strategy for wealth building. This method of portfolio management, which traditionally involves a mix of stocks, fixed assets and commodities allows for maximum return at the least amount of risk — an important element for retirement savings.

2018-8-18 22:30	Bitcoin
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Hungary Does Not Consider Cryptocurrency Legal Tender Yet

Hungary is reportedly working on a regulatory framework for cryptocurrencies but doesn’t consider them a legal tender yet. The country’s current legislation imposes steep taxes, making it a fairly unwelcoming territory for cryptocurrency investors.

2018-8-15 02:00	Taxes
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BearTax: Easy Way To Calculate & File Crypto Taxes For Investors?

BearTax, found online at Bear. tax, aims to be the leading tax filing service for crypto users. Find out how it works today in our review. What Is BearTax? BearTax lets you calculate and file crypto taxes.

2018-8-14 12:21	Cryptocurrency
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Bitcoin’s IRS Tax Implications: Optimal Crypto Asset Accounting & Reporting Models

The IRS recently warned that virtual currency transactions are taxable by law and that people who fail to report their cryptocurrency income, file cryptocurrency late, or file crypto taxes improperly may incur penalties and interest.

2018-7-29 22:59	News
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Australia Tax Office Says Investors Trading Cryptos Offshore Won’t Escape Tax Obligations

The Australia Tax Office (ATO) wants to do its job properly and is bent on collecting all taxes from its citizens. Even those tech-savvy bunch belonging to the crypto crowd won’t be able to escape its clutches as the agency will be using the latest in data matching techniques, as well as the cooperation of […] Australia Tax Office Says Investors Trading Cryptos Offshore Won’t Escape Tax Obligations was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-13 14:59	Cryptocurrency
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IRS Seeks Cryptocurrency Tax Fraud and Unreported Taxable Gains

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	News
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