Chinese journalist Colin Wu reported Chinese authorities’ efforts to tax cryptocurrency firms and individuals. Experts believe that in an attempt to control the collection of crypto taxes, China could …
EU to ‘Level Playing Field’ for Crypto Firms With Uniform Tax Rules
Companies of any size processing crypto transactions for customers in the European Union will soon need to report these for tax purposes under proposed legislation. The policy, put forward as an …
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IRS steps up efforts to target U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions
The IRS continues to chase U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions with a new court order allowing a summons for customer records. The agency will issue a …
Blockchain and Cryptocurrency CPAs—Evolution of the Profession
The irony about needing accountants who understand digital assets is that blockchains themselves are transaction ledgers with automated record-keeping—a blockchain is a giant check register. The …
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The IRS Is Working On A New Tax Form To Capture Your Crypto Activity
The Infrastructure Act passed by the U.S. Congress in 2021 brought cryptocurrency exchanges under the controversial “broker” definition and subjected them to the IRS information reporting regime. As a …
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In Win For Crypto Stakers, IRS Offers Refund on Untraded Token Rewards
A decision to refund a Nashville couple taxes related to unsold Tezos tokens is set to clarify the IRS tax treatment of staked cryptocurrency. In a win for cryptocurrency stakers and miners, the IRS …
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Bitcoin and cryptocurrency taxes in 2022: Everything you need to know
If you bought, sold or traded cryptocurrency in 2021, you may have questions about how it's taxed. The IRS treats virtual currencies, like bitcoin and ether, differently from some other assets and …
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Own Crypto? Here’s How to Avoid Running Afoul of the IRS.
Investors in cryptocurrencies may be sitting on big profits. Bitcoin and Ethereum, the two largest cryptos, are up 100% and 470% this year, respectively. Solana, another major coin, is ahead 13,300%, …
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