IRS Goes After Crypto Broker for Transaction Data in Latest Tax Chase
The US Internal Revenue Service is ramping up its efforts to collect taxes from crypto traders regardless of a 70% market slump. The tax department has obtained a court order…
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Tax on income you never earned? It’s possible after Ethereum’s Merge
IRS rules weren’t ready for the Ethereum upgrade. It’s unlikely to become the fiasco that taxpayers experienced when Bitcoin forked in 2017, but there are measures they can take to…
US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS…
Get ready for even more incompetence at the IRS in 2023
The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years.
Can the government track Bitcoin?
The law enforcers like the IRS and FBI track Bitcoin with blockchain data and collaborate with private companies in an attempt to trace criminals and taxes.
Biden is hiring 87,000 new IRS agents — and they’re coming for you
The Internal Revenue Service is hiring a fleet of new agents. And they’re probably coming for you — regardless of your income level.
Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K
BTC’s $335 million options expiry has become a death trap for bulls, and increased legal action by the SEC and IRS against crypto companies is adding to the sell pressure.
IRS Expands Crypto Question on Tax Form
The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New…
US govt delays enforcement of crypto broker reporting requirements: Report
The reporting requirements, aimed at reducing the size of the tax gap, were scheduled to take effect in January 2023, with crypto firms sending reports to the IRS starting in…
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600
Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal…