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U.S. law enforcement arrested the alleged operator of Bitcoin Fog, Roman Sterlingov in Los Angeles on Tuesday. Documents show Sterlingov is accused of laundering over 1.2 million bitcoin via the Bitcoin Fog mixer, a tool that allows users to mix transactions together. According to federal investigators, Sterlingov ran the operation for ten years and processed … Read more
Are there any pitfalls in NFT taxation according to the current U.S. laws? Go to Source Powered by WPeMatico
The recent John Doe summons developments indicate that the IRS is seriously interested in crypto — better to report than to be audited. Go to Source Powered by WPeMatico
What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations. Go to Source Powered by WPeMatico
The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto … Read more
The key to properly filing taxes on cryptocurrency comes down to excellent record-keeping, the correct IRS tax forms, and knowledge about what qualifies as income versus capital gains. Handle Tax Filings With Care to Avoid Any Audits Although the traditional April 15th deadline for filing US taxes has been pushed to May 17th, there is … Read more
Selling or transacting your Bitcoin isn’t worth the tax burden, according to the CEO of Ark Invest. Go to Source Powered by WPeMatico
There are ways in which a tax on the ultra-wealthy could nudge them toward crypto, but hiding assets is not one of them. Go to Source Powered by WPeMatico
The actions against McAfee by the DoJ and the IRS represent a worrying shift in the view of the U.S. government’s criminal enforcement arm. Go to Source Powered by WPeMatico
501(3)(c) status boosts the project’s legitimacy as well as its efficiency in using donations. Go to Source Powered by WPeMatico
