2022-3-15 14:27 |
Purchasing crypto with fiat or any “unrealized appreciation” is not a taxable event according to Thomas Shea, an EY crypto tax executive.
Similar to Notcoin - Blum - Airdrops In 2024
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Since cryptocurrencies have been classified as taxable assets by the IRS and other financial bodies in other countries, you need to pay taxes on them if you want to abide by the law. However, it can be a daunting task to calculate your taxes in the crypto world, especially since they are very volatile assets.
2021-12-30 15:23 | |
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The long debate in the country’s legislature could soon be over meaning cryptocurrency gains made in South Korea may not be considered taxable events until 2023 at the earliest.
2021-11-30 04:36 | |
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“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.
2021-11-27 03:49 | |
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The country’s crypto tax rules that had been previously proposed have been accepted and will go into effect in 2022. As of now, non-fungible tokens (NFTs) are not included under the tax. The post South Korea Plans 20% Crypto-Tax From 2022, Will Exclude NFTs as Taxable appeared first on BeInCrypto.
2021-10-8 20:24 | |
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The IRS has considered crypto mining revenue as part of taxable income since 2014.
2021-7-30 23:30 | |
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Now that crypto markets have flipped bullish, thoughts have turned once again back to profits and the inevitable cut we’ll need to pay the taxman when the time comes. Generally speaking, a taxable event occurs when you buy, sell, and trade crypto.
2021-7-28 16:24 | |
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The U. S. Internal Revenue Service (IRS) has modified the crypto question asked on the main U. S. tax form. Reducing the scope of the question, the IRS now focuses on taxable cryptocurrency transactions.
2021-7-24 19:00 | |
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Most transfers of cryptocurrency are taxable, unless the transfer is qualified as a gift or a charitable contribution.
2021-7-23 18:25 | |
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Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency transactions. Tax Office […]
2021-5-29 14:36 | |
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The taxation of cryptocurrencies is a contentious issue at the moment. Regulators worldwide have taken a serious interest, particularly because certain investors are generating enormous profits from the crypto market, some of which are not recorded on tax returns.
2021-5-29 23:00 | |
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Coins earned by staking have been “created” and are not taxable until sold according to one couple in the U.S.
2021-5-27 07:33 | |
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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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Volodymyr Kvashuk, a former Microsoft engineer, has been sentenced to nine years in prison for defrauding the tech giant for over $10 million, using a bitcoin mixer to hide taxable income, and filing fraudulent crypto tax returns.
2020-11-11 00:13 | |
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If it's a taxable event, authorities want to know.
2020-9-29 20:12 | |
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The U. S. Internal Revenue Service (IRS) continues to keep a keen eye on crypto-transactions. IRS to Tax Crypto Earned via Microtasks According to a report by The Block, the U. S. tax watchdog is set to tax cryptocurrencies earned via microtasking jobs.
2020-9-1 00:07 | |
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Signature Bank gave out dozens more PPP loans to crypto firms than previously known, Ethereum Classic has suffered another 51% attack and a digital yuan wallet went live and disappeared.
2020-8-31 19:19 | |
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The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.
2020-8-31 10:31 | |
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The taxation of crypto assets may well be hindering their adoption in the United States. Deemed a commodity by the CFTC and property by the IRS, each time an individual makes a purchase with a digital currency, they are almost certainly creating a taxable event.
2020-1-17 01:00 | |
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South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
2020-1-2 08:15 | |
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One of the things which causes undue consternation for many holders of Bitcoin and cryptocurrency is its taxable status. While some naysayers still consider the whole industry a tax avoidance scheme, most users just want to make sure they comply with the rules.
2019-12-5 16:00 | |
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The taxman presented a case for going after income from hard forks, creating confusion on social media as dozens of forked coins may turn out to be taxable.
2019-10-10 10:20 | |
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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.
2019-10-10 22:02 | |
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The Iranian government has authorized the mining of cryptocurrencies like bitcoin as an industrial activity on the sidelines of a gloomy economic outlook. Mehr News reported today that miners would need to obtain required licenses from the Ministry of Industry, Mine, and Trade.
2019-7-29 16:00 | |
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By CCN. com: CCN sat down recently with one of crypto’s biggest lending firms to hear insights into the emerging crypto-lending industry. Antoni Trenchev, co-founder of Nexo, discussed the millennial mindset when borrowing, as well as upcoming trends in his field.
2019-5-6 12:09 | |
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By CCN. com: Simon Goldring, a lawyer, and partner at British firm McDermott Will & Emery, wrote a piece in The National Law Review this week talking about the function of cryptocurrencies as an inheritance.
2019-5-5 11:12 | |
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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 | |
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Cryptocurrency tax expert and developer of the CryptoTrader.Tax software David Kemmerer breaks down what constitutes a taxable event when dealing with digital currency, how to file losses and gains connected to crypto trading, and how to make sure traders are using the correct tax forms.
2019-4-16 00:36 | |
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According to CCN, a crypto tax preparation firm sent it a “consumer warning” outlining two crypto tax elements that other exchanges such as Coinbase and Intuit have been doing wrong. The warning stated concerning Coinbase, “The online tax guidance provided by Coinbase implies that airdrops are taxable as ordinary income—which is reported on Line 21 […]
2019-4-10 19:08 | |
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CCN received a “consumer warning” this morning from a crypto tax preparation firm. The warning outlines two aspects of crypto tax that the firm believes have been done wrong by other outfits – namely Bitcoin exchange Coinbase and Intuit, the creator of TurboTax.
2019-4-10 01:01 | |
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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 | |
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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 | |
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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 | |
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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 | |
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On November 2, 2018, a Reddit user submitted a post to the /r/tax subreddit claiming that they were stuck in a somewhat precarious proposition with their taxes. Crypto-to-crypto trades: Taxable events The individual, an American college student, said that they decided to start dabbling in cryptocurrency investments sometime in early 2017 after hearing about the market’s growth potential from a.
2018-11-7 21:00 | |
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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 | |
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What Is CryptoTrader. Tax? CryptoTrader. Tax is a cryptocurrency tool that helps in calculating gains, importing trade, simplifying preparation, and reporting of taxes. Initially, it was nearly impossible for high-level crypto traders to calculate their taxable trade incomes since it would take a lot of time especially if done manually.
2018-10-9 10:21 | |
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Two Norwegian crypto miners are being publicly scrutinized after declaring less than $20,000 USD in taxable income and also admitting to owning at least 34 BTC last year. After the 22 year old miners from the city of Harstad, Philip Eriksen and Roy Arne Olsen, made their allegations public, they entered the radar of the […]
2018-8-25 19:59 | |
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Two Norwegian cryptocurrency miners have garnered national media attention after declaring taxable incomes of less than $20,000 USD despite having admitted to owning at least 34 bitcoins during December of last year.
2018-8-24 18:15 | |
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Capital gains on crypto transactions are easy to track, one at a time. What about when there are thousands?Cryptocurrency capital gains taxes are becoming a point of interest for governments.
2018-7-31 20:04 | |
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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 | |
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The EU’s Policy Department for Economic, Scientific and Quality of Life Policies released a report entitled “Virtual currencies and central banks monetary policy: challenges ahead.
2018-7-3 23:28 | |
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As more investors trade in cryptocurrency, the national revenue watchdog IRS is also stepping investigations into two key issues in this realm, taxable gains which are not reported and tax frauds.
2018-6-30 15:01 | |
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Peter: There are many problems blocking mass global adoption of cryptocurrency and only one of them is the spendability problem. To date, it is still relatively hard to find a merchant who will accept crypto as a means of payment.
2018-6-23 05:32 | |
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Аналог Notcoin - Blum - Играй и зарабатывай Монеты
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Bitdeer Technologies announces the development of the SEAL04 chip, an energy-efficient solution for Bitcoin mining expected to achieve a power efficiency of 5J/TH by Q2 2025. The post Bitdeer unveils new chip for low-power Bitcoin mining appeared first on Crypto Briefing.
Medical device maker Semler Scientific acquired 247 more Bitcoin and plans to raise $150 million to further expand its Bitcoin treasury holdings, following MicroStrategy's lead.
Discover how US Bitcoin ETFs have achieved a record 18-day run of inflows, pushing the digital asset towards unprecedented highs. The post US Bitcoin ETFs attract record inflows with new all-time high in sight appeared first on Crypto Briefing.
The Bitcoin-Nasdaq 100 Index correlation hints at a potential crypto market rally, with Bitcoin possibly reaching $100,000, says Galaxy Digital's CEO. The post Equity market upside could favor Bitcoin as correlation with Nasdaq 100 strengthens appeared first on Crypto Briefing.
ECB's rate cut to 3.75% could indirectly benefit Bitcoin and stablecoins in the Eurozone, as investors may turn to crypto for higher returns. The post ECB rate cut could spur Bitcoin and stablecoin growth in Eurozone, experts highlight appeared first on Crypto Briefing.
In recent weeks, Ordinals (ORDI), a BRC-20 token, has captured the attention of the cryptocurrency market with its remarkable performance and promising future prospects. ORDI has experienced a substantial price surge of 27% over the past week, breaking through the critical $50 resistance level and solidifying its position as a dominant altcoin. ORDI Futures Open […]
Robinhood has agreed to acquire leading Bitcoin and crypto exchange Bitstamp for $200 million, marking a major expansion of its crypto business globally.