Tag: tax

Mar 08 2021

New IRS Operation Threatens Crypto Tax Dodgers With Jail

Mar 08 2021 Published at Crypto Briefing under tags  civil criminal education evasion irs

A newly launched IRS initiative called Operation Hidden Treasure was announced on Friday as part of a crackdown on widespread crypto tax evasion. IRS Searching For Telltale Signs of Tax Evasion Operation Hidden Treasure was...

IRS Launches Dedicated Program to Identify Crypto Tax Evaders

The program was launched as a joint effort between IRS’s civil and criminal units.

Mar 04 2021

DeFi Taxes 2021: How to Pay Tax on Borrowing, Lending, Yield Farming, and Liquidity Pool Funds

Mar 04 2021 Published at Crypto Briefing under tags  aave analysis defi tax taxes

Taxes are one of the more opaque issues in crypto, with many investors still unsure how to calculate taxes on earnings or whether they owe taxes at all. The DeFi space, in particular, has many moving parts when it comes to taxation and asset classes. Crypto Briefing has put together a brief guide that lays out how users' DeFi income might be...

Feb 18 2021

Switzerland’s “Crypto Valley” Residents Can Now Pay Taxes in Crypto

Residents of Zug province, Switzerland, can now pay their taxes in Bitcoin and Ethereum. Bitcoin Suisse will convert the crypto to Swiss francs upon payment. Adding 100,000 Residents to Crypto Valley Tax Program The Zug blockchain haven in Switzerland, popularly known as Crypto Valley, has passed...

Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments

Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.

Feb 17 2021

Russia’s Crypto Tax Bill Passes First Reading at State Duma

The bill proposes to recognise cryptocurrency as property for purposes of taxation.

Feb 16 2021

Russia’s Lower House to Consider Bill on Crypto Taxation This Week

If passed the bill would amend tax laws to recognize digital currencies as a form of property.

Feb 04 2021

South Africa’s Tax Agency Is Clamping Down on Crypto Users: Report

The South African Revenue Service is likely "ensnaring" non-compliant taxpayers, a tax consultancy said in a news report.

US Library of Congress Says Most Countries Lack Clear Tax Guidance on Crypto Staking

Out of 31 nations, only 5 have tax guidance addressing cryptocurrency rewards via staking, a study found.

Feb 02 2021

How to File Taxes on Cryptocurrency Mining in the U.S.

Feb 02 2021 Published at Crypto Briefing under tags  business education mining tax

If you're filing taxes as a crypto-miner in the US, you need to be aware of the IRS guidelines on mining income. IRS Views Mining Rewards as Income The Internal Revenue Service (IRS) first ...

Everything You Need to Know About Your 2020 Crypto Taxes

In this episode, Shehan Chandrasekara, head of strategy at CoinTracker, and Dan Hannum COO at Zen Ledger, take a deep dive into the world of crypto taxes. Over an hour and fifteen minutes they tackle a bevy of topics ranging from why the IRS is asking about your crypto history to explaining the proper way of reporting yield farming income. Shehan and Dan...

Jan 27 2021

Bitcoin ‘Underperforms’ During Tax Time: Analysis

Bitcoin's price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.

Jan 26 2021

South Korean Tax Agency Carries out Irregular Audit on Crypto Exchange Operator

The team of investigators requested past data and transaction details from Korea Digital Exchange.

Jan 11 2021

Kentucky Bill Seeks to Lure Crypto Miners With Tax Breaks

Jan 11 2021 Published at CoinDesk under tags  kentucky mining news policy & regulation tax

Reps. Rudy and Freeland's bill would exempt crypto miners from paying either Kentucky sales or excise tax.

Jan 08 2021

South Korea Plans to Implement 20% Tax on Cryptocurrency Profits in 2023

The Government is planning a 20% tax on cryptocurrency investors making an annual income of more than 2.5 million Won.

Jan 07 2021

PayPal, Coinbase Invest in Crypto Taxation Platform Taxbit

The platform offers automated crypto taxation calculation to partner exchange users.

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.

Jan 01 2021

Proposed Indian Crypto Tax Might Kill the Local Industry

The government is expecting to gain $1 billion in taxes from Bitcoin trades.

Dec 29 2020

India Mulls Imposing 18% Tax on Bitcoin Transactions

Dec 29 2020 Published at CoinDesk under tags  bitcoin india markets news policy & regulation

The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies.

Dec 28 2020

Israeli Tax Agency Seeking Crypto Holding Disclosure

Crypto profits are taxed at 25 percent in the country as capital gains.

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