IRS Takes Major Steps Towards Taxing Crypto
The IRS has introduced Form 1099-DA specifically for cryptocurrency, which will increase openness.Brokers are required to file Form 1099-DA beginning in January 2025.
The introduction of…
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IRS hires Binance.US and TaxBit Executives To Regulate Taxes
The IRS has taken a proactive stance toward crypto compliance and enforcement by recruiting two seasoned digital-asset executives, a strategic move that will strengthen the agency's…
IRS adds a query regarding cryptocurrency income tax to four additional tax forms
This inquiry is irrelevant to a contentious $10,000 rule and relates to all taxpayers.
The IRS reminded all taxpayers on January 22 to respond to a query regarding digital assets and to…
Coinbase Cautioned Against ‘Unchecked’ Tracking Under the IRS’ New Crypto Tax Plan
Coinbase Global Inc., a cryptocurrency exchange, has spoken out against the IRS's proposed new tax policy.
According to CoinDesk, Coinbase has responded to an Internal Revenue Service…
Kraken Chooses Privacy Concerns Over Tax Compliance with IRS
Kraken, a cryptocurrency exchange situated in San Francisco, is in the middle of a court battle with the Internal Revenue Service (IRS) over the latter's demand for customer data.
The…
A man from Ohio stole almost $12,000,000 worth of Bitcoin (BTC) from the IRS
A guy from Ohio faces decades in jail after pleading guilty to stealing Bitcoin (BTC) worth millions of dollars from the Internal Revenue Service (IRS).
The U.S. Department of Justice…
IRS Desires a “Symbiotic Relationship” With Crypto Firms to Combat Financial Crime
The Wall Street Journal interviewed Thomas Fattorusso, an IRS special agent, on the agency's strategy for combating crypto crime.
An IRS special agent told the Wall Street Journal that…
The Coin Center is suing the U.S. Treasury and IRS over an allegedly unconstitutional tax reporting…
Legal action was taken against the Treasury Department and the IRS on Friday for allegedly writing an illegal addition to the contentious infrastructure package, according to the advocacy…
IRS wants more official John Doe records from cryptocurrency exchanges
An Internal Revenue Service (IRS) official said Wednesday that crypto exchanges can "expect more" in terms of wide information demands, similar to previous efforts involving Coinbase,…
The IRS may not tax staking prizes until they are sold, according to a recent court decision
The Nashville couple's argument against the IRS contrasted unclaimed and unsold crypto awards to an unsold book by a writer, and they would be compensated with a return of tax paid plus…
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