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...
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...
The cryptocurrency tax was originally planned to be implemented in late 2021.
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...
Whether enthusiasts have been busy yield farming or simply dollar-cost averaging (DCA) into Bitcoin, everyone is...
Dozens of Israelis who own digital currencies have recently received notification telling them they must fully disclose their assets for taxation purposes.
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...
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...
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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