The IRS Just Issued Its First Cryptocurrency Tax Guidance in 5 Years
The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.
IRS sends new letters to crypto holders, stating amounts they owe to the agency
The Internal Revenue Service (IRS) is sending out a new round of letters to cryptocurrency holders, this time listing the specific amounts of money that these letter recipients owe to the tax collector.
Brazil Tax Authority Requires Reporting All Bitcoin Transactions Starting Today
Beginning today, Aug. 1, Brazil citizens are obligated to report on their crypto transactions with the country’s tax authority, the Department of Federal Revenue (RFB).
IRS devising more sophisticated ways to keep track of people evading tax on cryptocurrency earnings
The United States’ Internal Revenue Service is in the news again after a new method of its to keep a tab on those who evade tax on their cryptocurrency earnings came to the fore.
IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014
The U.S. Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency’s commissioner told a lawmaker Monday.
Venezuela’s Socialist Establishment Bares its Ugly Fangs with Parasitic Crypto Tax
After years of hiding behind the fig leaf of socialism and revolutionary anti-imperialist rhetoric, the embattled Venezuelan government of Nicolas Maduro has shown its true colours with a new 15 percent tax on cryptocurrency transactions that may be best described as opportunistic, if not an act of outright tyranny.
Blockchain Research Now Granted Tax Credit in South Korea
South Korea’s government has added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation, English-language local media TheNews.Asia reports on Jan. 8.
France Rejects Cryptocurrency-Friendly Tax Amendments
France’s National Assembly has rejected a number of tax amendments aimed at lowering taxes for cryptocurrency traders and users. Among rejected amendments are those concerning capital gains and losses and crypto tax exemptions.
Israeli Tax Authority Cracks Down on Unreported Crypto Earnings
Over the last two weeks, Israel's Tax Authority has unilaterally opened tax accounts for hundreds of Israelis it has identified as having unreported earnings from cryptocurrency trading.
US Lawmakers 'Strongly Urge' IRS to Update Crypto Tax Guidance
A group of U.S. lawmakers has called on the nation's Internal Revenue Service (IRS) to release comprehensive guidance for taxpayers earning gains on cryptocurrency investments or transactions.
Norway: Crypto Miners See Millions In Profits, Tax Office Sends Reminder
Tax authorities in Norway have urged diligence when reporting cryptocurrency profits after news emerged that two miners paid just 74,000 kronor ($8750) in tax on reported holdings of 34 BTC ($218,000).
Israel Tax Authority Convinces Local Exchange to Report Big Traders
Tax agencies around the world keep applying pressure on bitcoin and crypto companies to make their operations transparent to them. The latest example comes from Israel, where a local exchange with over 50,000 clients has been convinced to report its bigger traders to the national tax authority.
The Tax Man is Finally Catching Up On the Crypto Market
When Bitcoin was still deeply buried underground in the world of unknown technology and the dark web, it was hardly seen as a threat, or even legitimate by those in power. However, it soon proved many in the mainstream wrong as it’s popularity and price skyrocketed.