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.
Bitcoin loses 20% amid reports of U.S. courts ordering Coinbase to disclose 14000 transactions, which are above $20000, to IRS.
A software tool helps the IRS identify people who hide their wealth, making some bitcoin owners uneasy as they lose their anonymity.
American bitcoin traders, including Coinbase users, can now report gains accurately to the IRS through Node40’s new SaaS.
The New York Department of Financial Services approved the virtual currency and money transmitter license for Coinbase after a thorough review of its applications.
The IRS responds to the motion of Coinbase’s user asking the court to allow the tax agency proceeding with its “John Doe” summons.
The IRS suspects that some individuals could have hidden taxable income for the specified period.
The Internal Revenue Services sent Coinbase a summons asking for information on all users basing on three isolated cases when people used bitcoin to evade taxes.