IRS Refused to Clarify Its Crypto Tax Guidance Isn’t Binding, US Watchdog Says
The IRS has refused to clarify that part of its 2019 guidance on tax treatment of cryptocurrencies is not binding, a government watchdog said.
No new guidance is expected to come from Tuesday’s IRS Crypto Summit, but that the event happened at all is still a positive sign for the industry.
Uphold is launching a real-time tax liability dashboard with the help of TaxBit, allowing users to more easily understand and file their taxes.
Certified Public Accountants familiar with crypto largely believe their clients might face audits or penalties for under-reporting holdings in past years, according to a survey.
The software engineer used bitcoin mixers to help obfuscate the source of the stolen funds.
The IRS will hold a summit to better inform its thinking around taxing cryptocurrencies next month.
Nobody likes taxes but for U.S.-based blockchain users things can be particularly awful. This week we discuss U.S. tax treatment of "virtual currencies" and how scams find a home wherever opportunity exists, at least for a while.