US authorities to intensify scrutiny of crypto industry in 2023
The SEC, FASB, and IRS are working to tighten crypto regulations and expand industry oversight.
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US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated…
The outcome of SBF’s prosecution could determine how the IRS treats your FTX losses
Will your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win.
Argentina Signs Automatic Tax Data Sharing Agreement With the United States
The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by…
IRS Building ‘Hundreds’ of Crypto Cases — Official Says $7 Billion in Crypto Seized in 2022
The Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation…
IRS is Building Hundreds of Crypto Tax Evasion Cases
Hundreds of crypto-related cases are piling up at the Internal Revenue Service (IRS)’s Criminal Investigation division. According to division chief Jim Lee, many of these cases will be made public…
IRS prepares for an increase in crypto cases in the upcoming tax season
The criminal investigation division of the IRS says it is preparing hundreds of crypto-related cases for the upcoming tax season.
A new definition of crypto comes from the IRS — Law Decoded, Oct. 17-24
IRS broadens the classification of crypto, Ripple gets another point in a case against SEC and Hong Kong considers its own regulatory framework in opposition to China.
IRS Updates Crypto-Related Instructions for 2022 Tax Filing
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies,…
IRS Drafts New Crypto Reporting Rules for Tax Year 2022
The Internal Revenue Service (IRS) has released a draft of new instructions to U.S. taxpayers on reporting digital asset activity. IRS Releases Draft Tax Document The IRS is expanding its...