Tag: IRS
The IRS Backs Down on Crypto Staking Case
It looks like the Internal Revenue Service (IRS) doesn’t have as much power as we thought. The agency is offering to pay a man named…
2018 Cryptocurrency Market Decline May Have Severe Tax Implications for US Taxpayers
The 2018 cryptocurrency price declines may push US-based investors into problems with the internal revenue service (IRS). Considering reports that indicate a low volume of…
US Congressman Drafts Three Bills to Support the Cryptocurrency and Blockchain Industry
The Congressional Blockchain Caucus seems to be serious about pushing for speedy regulations as evidenced by its newest co-chair’s draft bills. Perhaps one of the…
US Politicians Urge IRS to Issue Bitcoin Taxation Guidelines by October 2018
Defining regulations regarding cryptocurrencies is a difficult task. In the United States, the IRS is responsible for issuing proper guidelines. In a recent letter, five…
Vague Cryptocurrency Tax Laws Cause Problems for Hedge Funds
Hedge funds engaged in the cryptocurrency market are having a difficult time evaluating their tax burden. With unclear IRS guidelines, many of these funds run…
South Africa’s SARS to Apply Normal Income Tax Rules to Cryptocurrencies
The South African Reserve Service (SARS) has announced that it will be applying normal income tax rules to cryptocurrencies. In an announcement released by the…
IRS can Expect up to $25bn in Bitcoin Capital Gains Taxes, Fundstrat Claims
American Bitcoin enthusiasts won’t be pleased to hear tax season is on the horizon again. A lot of holders are struggling to file capital gains…
New Zealand’s Inland Revenue Reminds Cryptocurrency Investors and Businesses of Their Tax Obligations
New Zealand’s Inland Revenue department appears to be taking a firmer stance against cryptocurrency traders and companies who use them, reminding them of their tax…
New Bitcoin Investors Faced with Tax Bill Are Selling Coins, May Be Impacting Market Price
New bitcoin investors have been enjoying the profits they’ve made on their crypto assets. Yet, it seems they may have forgotten one small issue: paying…
