California CPAs Push for Crypto Accounting Clarity
Accountants want to fill gaps in the U.S. GAAP when it comes to cryptocurrencies.
A draft bill setting out how crypto-related income should be taxed in Ukraine would tax gains at 5 percent for the first five years if passed.
The IRS is sending another round of warning letters to crypto users, this time to taxpayers who it thinks misreported income on exchange transactions.
A federal judge denied a bitcoin user's petition to stop the IRS from gathering data about his cryptocurrency holdings from the Bitstamp exchange.
Though the IRS has yet to publish its promised crypto tax guidance, the warning letters recently sent to 10,000 traders hint at what to expect.
The IRS has begun contacting U.S. taxpayers, warning them about possible back taxes owed on their crypto holdings.