Internal Revenue Service Criminal Investigation Chief John Fort said that the regulator is looking into potential tax issues caused by Bitcoin ATMs and kiosks.
IRS News
The Internal Revenue Service or IRS is a public authority of Federal Government of the United States. The IRS is responsible for all tax collection and controls the implementation of tax legislation. The service was formed in 1862 and is headquartered in Washington, D.C.
There is currently an essential issue concerning the IRS with regards to the taxation of cryptocurrency. The organization has already announced that Bitcoin and other kinds of digital money are regarded as a possession, mining as a way of income, and the storing of cryptocurrency as equivalent to holding gold, meaning that everything should be taxed using the existing laws. Due to the IRS, if a Bitcoin owner came into possession of it by mining and then sold it, it is supposed to be considered 100% profit, which should be taxed between 15% and 20%, depending on its size. In addition to that, the IRS requested some large cryptocurrency exchange administrations for information about clients whose transactions were more than $20,000/year between 2013-2016.
- News
- News
by Helen Partz
The like-kind exchange tax exemption has never been applicable to crypto, an IRS official said.
- Expert Take
New U.K. crypto tax policy paper: Crypto is an asset and subject to capital gain tax.
- Follow up
Even though BitMEX is trying to brush aside its recent email leak, many industry personnel seem to think the matter is serious.
- Expert Take
Do you have a diverse portfolio that contains digital currency? The United States Internal Revenue Service also wants to know your answer.
- Expert Take
Understanding the new IRS guidance for cryptocurrency.
- Expert Take
The IRS is hunting crypto user identities. If you are audited, should you hire a professional or do it yourself?
- News
by Joeri Cant
The U.S. IRS will ask taxpayers whether they received, sold, sent or exchanged any financial interest in cryptocurrencies in 2019.
- Expert Take
The United States Internal Revenue Service (IRS) commissions blockchain analysis services and can investigate crypto reports.
- News
H&R Block has begun providing consultations on how to properly file cryptocurrency gains and losses on tax returns.
- Expert Take
Some in the crypto community have embraced Puerto Rico. Could it be the country for you?
- Expert Take
The IRS is using unreliable tax forms received from cryptocurrency exchanges to come after traders.
- Expert Take
“Willful” vs. “non-willful” tax flubs with crypto transactions have huge consequences with the IRS.
- How to crypto
The United States tax collecting and legislation authority, the Internal Revenue Service, sends a new round of letters to cryptocurrency holders.
- Crypto Map
Here’s how today’s crypto taxation laws look like across the globe, from the U.S. to South Korea, Switzerland, Japan, Australia and Malta...
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