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.
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Taxes From A To Z (2018): K Is For Kin (Crypto)
It’s Taxes from A to Z. K is for Kin (Crypto).
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 MoreWhat You Need To Know About Crypto & Taxes
Cryptocurrency is riding high these days. But even as more investors are taking a chance on digital currency, many are still confused about how to treat it for federal income tax purposes. Here’s what you need to know
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 MoreAnonymous Coinbase Customer Will Challenge IRS
“John Doe 4” has been granted the right to intervene in an ongoing court case between the Internal Revenue Service (IRS) and Coinbase. That gives the anonymous Coinbase customer the ability to contest the IRS’ efforts to identify and obtain Coinbase customer information.
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.
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