Over the past few years, the IRS has increased its compliance and enforcement efforts focused on payment transactions between US and foreign persons. However, these
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Cryptocurrency Tax Compliance & The IRS In 2021
Cryptocurrency is once again making big waves in the news thanks to Bitcoin and Dogecoin riding high, Tesla accepting payment in the form of Bitcoin,
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What You Need To Know About Cryptocurrency & Tax
Cryptocurrency is a digital or virtual currency. Essentially, it was created to offer a system to enable peer to peer payments without the need of
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Ask The Taxgirl: Paying Taxes On Bitcoin Transactions
Taxpayer asks: I paid short term and long term capital gains on my Bitcoin when I moved it from Coinbase into my hardwallet. Do you
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Ohio Will Allow Taxpayers To Pay Using Cryptocurrency
With the launch of OhioCrypto.com, Ohio will become the first state in the nation to accept tax payments using cryptocurrency.
Read MoreCrypto, S Corps On List Of IRS Compliance Campaigns
The Large Business and International of the Internal Revenue Service (IRS) has announced five additional compliance campaigns. The campaigns target AMT credits carryforwards, S corporation distributions, virtual currency, certain re-orgs, and transition tax.
Read MoreMore Tax Guidance Is Needed On Cryptocurrency
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 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 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
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Bitcoin 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.
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