Tag: irs

Jan 09 2021

8 Ways to Reduce Your 2020 Crypto Tax Bill

Jan 09 2021 Published at Crypto Briefing under tags  education investing irs taxes trading

A new year means preparing to pay taxes, which affects every single crypto enthusiast. But getting it right and keeping the IRS off your back is no easy task. Crypto taxes can encompass capital gains tax and income tax. The fee differs depending on the user's activity (roughly, capital gains tax applies to trading and investing, whereas income tax is charged for mining...

Jan 07 2021

PayPal, Coinbase, and Winklevoss Twins Invest in Crypto Tax Startup

Jan 07 2021 Published at Crypto Briefing under tags  business investment irs taxes

With tax day fast-approaching, PayPal, Coinbase, and Winklevoss Capital are backing the crypto-specific tax service, TaxBit. TaxBit Lands Investment Ahead of Tax Season TaxBit, a tax...

Jan 04 2021

The Tax Man is Coming for Bitcoin: IRS “Enforcement” Impending in 2021

Crypto holders are believed to be a major driving force behind a widening "tax gap" in the United States.

Dec 08 2020

Ron Paul Supports Bitcoin, Bashes IRS

Former US Presidential candidate showed interest in Bitcoin and asked Government to legalize cryptocurrencies without taxes.

Dec 05 2020

Outdated Tax Form Costs Crypto Traders Thousands

Dec 05 2020 Published at Crypto Briefing under tags  audit education irs taxes

American crypto traders have recently reported receiving tax audit notices from the Internal Revenue Service (IRS). The notices, called...

Nov 24 2020

Coinbase Ditches US Customer Tax Form That Set Off False Alarms at IRS

Nov 24 2020 Published at CoinDesk under tags  coinbase cryptocurrency taxes irs news

Instead of the troublesome 1099-K form, Coinbase will send the 1099-MISC to users of its interest-bearing products. Regular traders may not receive any forms at all.

IRS Sends Warning Notices to Crypto Investors

The agency is sending notices to the US investors for under-reporting crypto gains.

IRS Again Warns Crypto Investors They Under-Reported Gains

Nov 24 2020 Published at CoinDesk under tags  irs news policy & regulation taxes

For the second year in a row, the IRS is telling crypto investors they under- reported crypto gains. But there may false alarms again.

Oct 23 2020

Here’s How Bitcoin Gets to $50,000

Plus: the crypto companies turning away business What may prove to be the crypto news of the year broke this week, with the long-rumored announcement by PayPal that support for buying, selling, hodling, and purchasing will soon make its way to the company's customers. Filecoin continues forward with its long-awaited mainnet as several of its top miners object to the...

Oct 20 2020

How This DOJ Strike Force Hunts Down Cryptocurrency Criminals

Oct 20 2020 Published at Unchained Podcast under tags  2020 bitcoin blockchain crime crypto

Magistrate judge Zia Faruqui, and Jessi Brooks, assistant U.S. attorney in the national security section at the United States Attorney’s Office, have prosecuted several cryptocurrency-related cases, many of them amongst the most well-known. In this episode, they talk about: how they came to be involved in the prosecution of so many cases...

Oct 16 2020

New Civil Liberties Alliance Challenges IRS Collection Of Private Crypto Investment Data

If you’re a bitcoin trader or investor, you’ve probably traded on multiple cryptocurrency exchanges and, for the most part, trusted that those exchanges are keeping your data secure from unlawful data collection just like a bank or credit card provider would. Unfortunately, that doesn’t seem to be the case. On July 15, 2020 (Tax Day this year), New Civil Liberties Alliance (NCLA) filed...

Oct 11 2020

Monero Price Rises While IRS Tries to Break Anonymity

The Internal Revenue Service (IRS), which is the U.S. tax authority, has been drawn towards the most renowned private cryptocurrency, Monero. Reportedly one of the best choices for privacy-focused cryptocurrency, Monero has attracted the attention of the tax agency. As a result, the IRS has employed analysts to unmask Monero's activities. However, it does appear that Monero price is...

Aug 27 2020

Do The IRS Crypto Tax Letters Violate Taxpayer Rights?

Aug 27 2020 Published at Bitcoin Magazine under tags  irs regulation taxes

This article originally appeared in our Weekly Bits newsletter. If you want our news and analysis before anyone else, make sure you subscribe now! Earlier this week, crypto tax preparation service CoinTracker shared news that its users were receiving letters from the Internal Revenue Service warning...

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