As cryptocurrency continues to grow and evolve, more tax guidance is needed, not only to clarify questions from the IRS’ initial notice but also to address unexpected events like forks and splits.
Read MoreTag: Bitcoin
Taxes From A To Z (2018): K Is For Kin (Crypto)
It’s Taxes from A to Z. K is for Kin (Crypto).
Read MoreCoinbase Will Turn Over Court-Ordered Data
In the battle between the Internal Revenue Service (IRS) and Coinbase, a company which facilitates transactions of digital currencies like Bitcoin and Ethereum, Coinbase has announced that it has officially notified affected customers that it will comply with a court order.
Read MoreAsk The Taxgirl: Paying Your Taxes With Bitcoin
It’s “Ask The Taxgirl.” Today’s question: Can you pay your taxes with bitcoin?
Read MoreIRS Wins Big In Bid For Coinbase Customer Data
The IRS has notched a win in its battle for data from Coinbase. The IRS may legally investigate Coinbase account holders who may not have paid federal taxes on their virtual currency profits, but the scope of the summons has been dramatically narrowed.
Read MoreIRS Responds To Privacy, Other Challenges In Bitcoin Records Fight
The federal government fired back last week as answered opposition to its ongoing court case between the Internal Revenue Service (IRS) and Coinbase, a company which facilitates transactions of digital currencies like Bitcoin and Ethereum.
Read MoreBitcoin Fork Could Trigger Tax Bills
Technology has changed the way that we think about money. Next month, the way we think about money may change again following a potential shift in the blockchain world and that could cause tax headaches for some users.
Read MoreIs Cryptocurrency Like Bitcoin Income Tax-Free?
In 2014, the IRS issued controversial guidance stating that U.S. taxpayers should treat digital currencies as capital assets, provided those currencies are
convertible at some point into traditional cash.
Taxes From A To Z (2017): V Is For Virtual Currency
It’s Taxes From A to Z! V is for Virtual Currency.
Read MoreNode40 CEO: Form 1099-B Won’t Work For All Virtual Currency
New reporting requirements for virtual currency feels like a good idea but not everyone is on board with requiring virtual currency companies to issue a form 1099-B. Perry Woodin, the CEO of Node40, a blockchain governance company, believes the result would be a deeply flawed system.
Read More