PayPal’s Crypto Offering May Be ‘a Huge Headache’ for Taxpayers

PayPal opening its network to cryptocurrencies could create a serious tax headache for users.

Tax Payers Needn’t Disclose Merely Holding Crypto: IRS Draft 2020 Guidance

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.

IRS May Make It Harder to Avoid Declaring Crypto on Tax Returns

The Internal Revenue Service plans to make all income tax payers check a box indicating whether they have transacted in crypto over 2020.

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.

Bitwage Rolls Out Tax Calculator Tool as IRS Ramps Up Crypto Pressure

The new tool comes as the IRS is sending more letters to crypto investors.

IRS, Ignoring Its Own Watchdog, Sends Letters About Crypto Taxes Once Again

Less than a year has passed since the IRS first sent taxpayers cryptocurrency "soft letters."

US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed

Four U.S. congressmen have asked the IRS to clarify how block rewards from proof-of-stake networks are taxed, to prevent taxpayers from owing more than they should.