The Internal Revenue Service (IRS) has explained the issues of taxation in situations when a person gets crypto as a result of hard fork or airdrop.
As the crypto industry is attracting more and more newcomers every day, it is attracting more and more fraudsters as well. That’s why it’s vitally important to know at least the key rules that will help you to avoid scams while trading Bitcoin.
While cryptocurrencies are continuing to gain popularity, it’s high time to learn how to report your crypto gains in order to comply with IRS regulations and avoid undesirable consequences.
As part of its efforts to ensure compliance, the IRS has commenced sending out letters to erring crypto users. More than 10,000 people will receive one of three letters, advising them to report earnings and pay required taxes.
According to the IRS, they are now working on comprehensive crypto taxation guidance, which will in-depth explore ‘acceptable methods for calculating cost basis, acceptable methods of cost basis assignment, and the tax treatment of forks’.
Professional tech writer and blogger, Katrina Hatchett takes a look at key tax implications of dealing with cryptocurrencies.
Cryptocurrency proponent John McAfee revealed that the IRS has convened a grand jury to charge him, his wife, and four of his campaign workers, with ‘unspecified’ crimes of felonious nature.
Samuel Leach, crypto millionaire, founder and CEO of Yield Coin project, shares his vision of the current cryptocurrency landscape explaining the key issues faced by the industry.
U.S. lawmakers have called on the Internal Revenue Service to clarify a guidance for taxpayers earning gains on cryptocurrencies.
Although the number of people reporting their crypto investments is low fat the moment, it is expected to grow as the final date of filing comes closer.