What is “The Joint Chiefs of Global Tax Enforcement” and how it could affect the crypto legislation around the world
The IRS is keeping close tabs on cryptocurrency users across the United States. A brand-new compliance campaign has been launched to ensure everyone files their taxes properly when it comes to Bitcoin and altcoins. This new development is not entirely surprising, as there are still plenty of speculators who do not report gains or losses […]
A Southern Californian Localbitcoins trader has been sentenced to prison for a year for unlicensed money transmitting and money laundering. The trader, Bitcoin Maven, reportedly exchanged between $6 and $9.5 million for customers across the country, according to the notice by the U.S. Department of Justice. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space […]
Tax enforcement authorities from five nations announced that they have created a united alliance, the Joint Chiefs of Global Tax Enforcement, known as “the J5.” The J5 said they are committed to combating transnational tax crime “through increased enforcement collaboration,” in other words: working together to gather information, share intelligence, and conduct joint operations. Also […]
Tax authorities from five different nations are coming together to combat international financial crimes, with a focus on cryptocurrencies.
The topic of cryptocurrencies and taxes has been kicked around a fair few times. It seems cryptocurrency trusts offer a legal method of avoiding taxes. They are not necessarily for everyone, yet they do raise some interesting issues. The Future of Cryptocurrency Trusts It has become apparent that not everyone wants to pay taxes on their […]
“We recommend the IRS release immediate guidance regarding the tax treatment of virtual currency transactions”
So, you’ve got an option in crypto. How would it be taxed?
Azerbaijan’s Taxes Ministry has announced that it considers cryptocurrency trading to be a taxable event
So, is claiming 1031 treatment for cryptocurrency trades for the past smart or stupid? #EXPERT_TAKE
Today, April 17th, is tax day here in the U.S, but a significant number of investors have apparently not reported gains from digital currency trading to the Internal Revenue Service (IRS). TeamBlind and Credit Karma According to a survey from TeamBlind, the anonymous messaging app popular in fintech circles, 46% of people who made money trading cryptocurrencies in… […]
A New York resident has been indicted on fraud charges for tricking residents into investing in worthless binary options and a proprietary token.
‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum. ‘Tax Day’ to Spark New Bullish Momentum For Bitcoin The cryptocurrency market has been hungover ever since Bitcoin entered the futures trading market in December 2017. The… […]
Like elsewhere in crypto taxation, the rules for funds are far from straightforward, and discrepancies may lead to non-intuitive outcomes.
There is little guidance from the IRS on how to treat a token offering or SAFT for tax purposes. Determining how to do so is a fact-intensive process.