Crypto Tax Crackdown Looms as IRS Warning Letters Surge
The Internal Revenue Service (IRS) has significantly increased the number of warning letters sent to crypto investors, causing anxiety among users. This uptick is seen as a precursor to a…
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Brazilian Authorities Terminate Exemptions, Aims to Tax Crypto Held in Self Custody
Brazilian authorities issued a Provisional Measure that terminates the previous tax regime and introduces a new ruleset to tax all crypto-derived profits. The new rule also states that these measures…
Tax on Unrealized Crypto Gains Could Trigger Forced Sell-offs, Senators Warn Treasury
Senators push Treasury to shield U.S. crypto firms from devastating tax on unrealized gains, warning of risk to digital asset leadership. Treasury Pressured to Act Fast as Unrealized Crypto Gains…
Slovenia Proposes 25% Crypto Tax That Could Redefine EU Markets
Slovenia has proposed a 25% tax on crypto profits and derivatives, signaling a seismic shift toward uniform digital asset regulation. Slovenia Targets Crypto Profits With Brutal 25% Tax Slovenia’s Ministry…
Nigeria Eyes Crypto Tax Revenue
Nigeria’s Securities and Exchange Commission is working to bring licensed crypto exchanges into the formal tax system, with a related bill likely to pass in early 2025. Nigeria Aims to…
Elon Musk Calls for ‘Massive Reset’ of US Tax Regulations—Says They’re ‘Torturing’ Americans
Elon Musk says the U.S. tax code is torturing Americans, demanding an urgent reset while slamming wasteful government spending and pushing for massive federal budget cuts. Elon Musk Slams US…
Bitcoin Giant Microstrategy Caught in Biden’s Tax Web
This week, The Wall Street Journal highlighted potential tax complications for the publicly traded company Microstrategy, particularly concerning unrealized gains. According to the report, the Corporate Alternative Minimum Tax (CAMT),…
Report: Ted Cruz Aims to Target Crypto Tax Rule With CRA Resolution
Axios reports that Sen. Ted Cruz, a Republican from Texas, plans to wield the Congressional Review Act (CRA) next week to challenge a tax regulation that infringes on the rights…
IRS on the Chopping Block: Rep. Buddy Carter’s Vision for a Fairer America
Rep. Buddy Carter (R-GA) has introduced the Fair Tax Act, a sweeping proposal to dismantle the federal tax code, abolish the IRS, and replace it with a national consumption tax—a…
IRS Crypto Tax Reporting Requirements Stir up Mass Confusion
Some in the crypto community assumed the IRS was backpedaling on reporting requirements, but all requirements are still firmly in place, the agency simply announced a grace period for exchanges…