Tag: taxes

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...

PayPal, Coinbase Invest in Crypto Tax Automation Startup TaxBit

Jan 07 2021 Published at CoinDesk under tags  business coinbase investment news paypal

PayPal Ventures, Coinbase Ventures and Winklevoss Capital invested an undisclosed amount in the firm.

South Korea’s 20% Crypto Tax Now Coming in 2023: Report

The cryptocurrency tax was originally planned to be implemented in late 2021.

Jan 06 2021

IRS’s Increasing Enforcement of Tax on Crypto

Jan 06 2021 Published at CryptoNinjas under tags  taxes

With the crypto summer underway, one of the concerns that many traders, HODLers, miners, lenders, and stakers might have is how to report their gains and losses to the tax agencies. The Internal Revenue Service (IRS) in the US is determined to make crypto users pay their fair share of tax. In September, it was reported that the agency has...

Jan 05 2021

Why You Need a Crypto Tax Specialist, and How to Find One

Whether enthusiasts have been busy yield farming or simply dollar-cost averaging (DCA) into Bitcoin, everyone is...

Dec 27 2020

Israelis Must Now Disclose Crypto Holdings: Report

Dozens of Israelis who own digital currencies have recently received notification telling them they must fully disclose their assets for taxation purposes.

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Outdated Tax Form Costs Crypto Traders Thousands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

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.

Nov 10 2020

Former Microsoft Employee Charged With First-Ever Bitcoin Tax Fraud in US

Nov 10 2020 Published at Crypto Briefing under tags  business money laundering taxes theft

A Ukrainian software engineer has been sentenced to nine years in prison after defrauding Microsoft of more than $10 million. Volodymyr Kvashuk transferred funds into Bitcoin as part of the elaborate ploy. Ex-Microsoft Employee Absconds With Millions Over a period of seven months during his time at Microsoft, Kvashuk stole millions of...

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...

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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