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.
Why is the IRS trying to keep this case out of court? Because it may have widespread implications for privacy laws involving cryptocurrency users if the IRS loses.
Bitcoin's price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.
The IRS has narrowed the breadth of its new crypto reporting question.
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.
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.