The Internal Revenue Service (IRS) is seeking authority, through the use of a “John Doe” summons, access to data on Coinbase users from 2013 to 2015. The Department of Justice (DOJ) has filed paperwork with the court seeking approval of the summons, which some critics have hailed as overbroad.
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Virtual Heads Or Tails: EU Says Bitcoin Is Currency For Tax Purposes While US Disagrees
Bitcoin is money. That was the gist of a ruling this week from the European Court of Justice (ECJ), the highest court in Europe. The
Read MorePaying Your Taxes In Bitcoin? Bill Would Make It Easy.
At tax time, you can generally settle your bill by cash (though not necessarily folded cash), check or credit card. A New Hampshire State Representative
Read MoreDon't Forget Bitcoin At Tax Time
Getting those tax records together for the 2015 filing season? Don’t forget about Bitcoin. The Internal Revenue Service (IRS) issued guidance to taxpayers in 2014
Read MoreTop Tax Stories Of 2014
While taxpayers and tax professionals all over the country are bracing themselves for the 2015 tax season, it’s a good time to take a look
Read MoreIRS Says Bitcoin Not Reportable On FBAR (For Now)
The IRS has finally issued some guidance on Bitcoin and FBAR. The verdict? Not reportable for now…
Read MoreIRS Says Bitcoin, Other Convertible Virtual Currency To Be Taxed Like Stock
The IRS has finally issued some guidance on the tax treatment of Bitcoin and certain other virtual currency. What did they decide?
Read MoreThe End Of The (Silk) Road For Bitcoin Millionaire As IRS, Fed Agencies Make Arrests
We used to assume that crime happened in predictable places: dark alleys and dicey street corners. In reality, some of the biggest crimes in the
Read MoreUK Bows To Pressure, Likely To Reverse Course On Taxation Of Bitcoin: Will The US Be Next?
While the US has yet to offer a solid position on the taxation of Bitcoin, other countries are moving ahead with policy decisions. To date, Singapore and Germany have been cited as those with the most definitive answers on taxing Bitcoin. Are they about to be surpassed by the UK?
Read MoreWill Overstock Force IRS To Make Up Its Mind About Bitcoin?
Overstock raised eyebrows earlier this month when the retailer announced it would accept Bitcoin as payment. While Bitcoin has slowly been making inroads into the
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