taxes

The U.S. Treasury Department unveiled its definition of a "broker" for crypto tax reporting purposes in response to a controversial provision in the 2021 Infrastructure Investment and Jobs Act. (Nikhilesh De/CoinDesk)

Policy

U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges

The IRS is finally proposing rules for crypto tax reporting, giving the industry its own 1099 form and declaring digital asset miners safe from the future requirements.

The U.S. Treasury Department unveiled its definition of a "broker" for crypto tax reporting purposes in response to a controversial provision in the 2021 Infrastructure Investment and Jobs Act. (Nikhilesh De/CoinDesk)

By Jesse Hamilton Nikhilesh De

Aug 25, 2023 at 12:45 p.m. UTC

Aug 25, 2023

RegulationsInfrastructure BillIRSU.S. Treasury Departmenttaxesbrokertop news

U.S. Rep. Brad Sherman (House Financial Services Committee)

Policy

U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

Congressmen Brad Sherman and Stephen Lynch called the industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations on reporting r...

U.S. Rep. Brad Sherman (House Financial Services Committee)

By Sandali Handagama

Jun 7, 2023 at 8:39 a.m. UTC

Jun 7, 2023

RegulationsUStaxesBrad ShermanStephen Lynch

Robert F. Kennedy Jr. announces his candidacy in Boston on April 19. (Scott Eisen/Getty Images)

Policy

RFK Jr. Raises Crypto Taxes, Regulation as Issues in Opening Days of 2024 Presidential Race

Democratic presidential candidate Robert Kennedy Jr. is criticizing the White House effort to establish a 30% tax for crypto mining in the U.S.

Robert F. Kennedy Jr. announces his candidacy in Boston on April 19. (Scott Eisen/Getty Images)

By Jesse Hamilton

May 3, 2023 at 7:33 p.m. UTC

May 3, 2023

RegulationsCBDCstaxesMiningElectionsWhite HouseBiden Administration

(Samuel Regan-Asante/Unsplash)

Learn

Crypto Philanthropy 101: What Donors and Organizations Need to Know

Giving crypto as a charitable donation or setting up a nonprofit to receive crypto isn’t hard, but there are some unique considerations to think about.

(Samuel Regan-Asante/Unsplash)

By Megan DeMatteo

May 3, 2023 at 7:00 p.m. UTC

May 3, 2023

Beginner

LearnBeginnerCryptocurrencyphilanthropyCharityDAOstaxes

(Yunha Lee/CoinDesk)

Consensus Magazine

Nervous About Crypto Taxes? Donate Your Profitable Holdings Instead

Crypto traders can avoid paying capital gains taxes by reaping the benefits of one of the most generous deductions in the tax code.

(Yunha Lee/CoinDesk)

Apr 17, 2023 at 9:34 p.m. UTC

Apr 17, 2023

OpiniontaxesCrypto TaxesCharity

(Dimitri Karastelev/Unsplash, modified by CoinDesk)

Consensus Magazine

New 1099-DA Reporting Creates More Headaches for Taxpayers

You might think new tax reporting rules for exchanges should mean less work for the taxpayer, but it’s the opposite, says CPA Kirk Phillips.

(Dimitri Karastelev/Unsplash, modified by CoinDesk)

By Kirk Phillips

Apr 13, 2023 at 4:59 p.m. UTC

Apr 13, 2023

OpiniontaxesCrypto TaxesAccountingIRSUS

(Shutterstock)

Web3

How Will NFTs Be Taxed? Understanding the IRS' New Proposed Guidelines

Tax experts weigh in on how the IRS will decide if NFTs are collectibles.

(Shutterstock)

By Megan DeMatteo

Mar 31, 2023 at 7:57 p.m. UTC

Mar 31, 2023

NFTstaxesIRSDigital AssetWeb3

(Piotrekswat/Getty Images)

Policy

IRS Seeks to Tax NFTs Like Other Collectibles

NFTs will be taxed like the underlying assets until final rules are agreed on how to treat digital proofs of ownership held in retirement accounts

(Piotrekswat/Getty Images)

By Jack Schickler

Mar 21, 2023 at 2:56 p.m. UTC

Mar 21, 2023

RegulationsCrypto TaxesNFTtaxesIRSUS

U.S. President Joe Biden (Chip Somodevilla/Getty Images)

Policy

U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

President Joe Biden unveiled his 2023 budget proposal on Thursday.

U.S. President Joe Biden (Chip Somodevilla/Getty Images)

By Nikhilesh De

Mar 9, 2023 at 11:02 p.m. UTC

Mar 9, 2023

RegulationsU.S. Treasury DepartmentJoe BidenMiningtaxes

U.S. President Joe Biden (Chip Somodevilla/Getty Images)

Policy

Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole

The U.S. President is expected to unveil his budget proposal on Thursday.

U.S. President Joe Biden (Chip Somodevilla/Getty Images)

By Nikhilesh De

Mar 9, 2023 at 5:26 a.m. UTC

Mar 9, 2023

RegulationsJoe BidentaxesCongressU.S. Treasury Department