Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo
The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.
For the second year in a row, the IRS is telling crypto investors they under-reported crypto gains. But it may be a false alarm again.
PayPal opening its network to cryptocurrencies could create a serious tax headache for users.
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.
The U.S. tax agency has clarified who needs to answer "yes" to a question over cryptocurrency activity included in the draft 1040 income tax form.
The Internal Revenue Service plans to make all income tax payers check a box indicating whether they have transacted in crypto over 2020.