Canadian Municipality Set to Accept Bitcoin for Property Tax Payments
The Town of Innisfil, Ontario, will accept bitcoin for property tax payments from next month in a one-year trial project.
Instead of the troublesome 1099-K form, Coinbase will send the 1099-MISC to users of its interest-bearing products. Regular traders may not receive any forms at all.
Nearly a year after the IRS sent intimidating letters to crypto holders, the agency’s watchdog says the campaign violated its Taxpayer Bill of Rights.
This marks the first time that HMRC has released guidance specifically describing how staking is treated for taxation purposes. It has been assumed previously that staking comes under the umbrella of mining, thus the same guidance has applied.
Donating crypto means it won’t be taxed, say The Giving Block and TAXbit, which published a guide to facilitate such donations.
Have questions about filing your crypto taxes? CoinDesk dives into what we know (and what we don’t) about how the IRS is approaching the asset class.