Crypto donation startup launches IRS form as US tax season loom
Nonprofits are required to file IRS Form 8282 for crypto donations of $500 or more if donated funds are exchanged for the U.S. dollar. Go to Source Powered by WPeMatico
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Cointelli Makes It Easy to Report Coinbase, Binance, and Kraken Transactions to the IRS
Many crypto exchanges send tax forms to the IRS, each with their own list of supported tokens and info that doesn’t necessarily match up. This can create a lot of confusion for U.S. taxpayers. Luckily, Cointelli can swiftly and reliably create a unified tax report with the push of a button. And if there are … Read more
How to navigate cryptocurrency tax implications amidst the CPA shortage
High demand for CPAs has left many to fend for themselves when it comes time to figure out the complex tax landscape marked by virtual currencies. Go to Source Powered by WPeMatico
Blockchain forensics is the trusted informant in crypto crime scene investigation
As mainstream adoption of crypto increases, blockchain forensics is enabling law enforcement to recover stolen crypto, making the space more secure. Go to Source Powered by WPeMatico
Seizure of Bitfinex funds is a reminder that crypto is no good for money launderers
Law enforcement’s robust capacity to follow the money on the blockchain is good news for the crypto industry. Go to Source Powered by WPeMatico
No precedent: IRS court settlement doesn’t clarify crypto staking taxes
There is yet to be a conclusive court ruling regarding the taxation of staked crypto rewards; however, a recent case demonstrates industry progression. Go to Source Powered by WPeMatico
Coinbase users can receive US tax refunds in crypto as part of TurboTax deal
The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees. Go to Source Powered by WPeMatico
US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200
House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to “ensure that our tax code evolves with our use of virtual currency.” Go to Source Powered by WPeMatico
PoS validator turns down IRS tax refund offer, pushes for clear policy on staking taxation
The Tezos validator who took the IRS to court argues that staking rewards should be treated as created property rather than income. Go to Source Powered by WPeMatico
IRS Special Agent on Crypto: ‘We See Mountains of Fraud in This Area’
A special agent with the Internal Revenue Service (IRS) says the tax agency is “seeing mountains and mountains of fraud” in the cryptocurrency space. The IRS criminal investigation unit is trying to train all of its agents on crypto and non-fungible token (NFT) issues because “this space is the future,” he stressed. IRS Special Agent … Read more
