News
The Midas Project has filed a complaint with the IRS against OpenAI, alleging that CEO Sam Altman’s dual roles create conflicts violating nonprofit tax rules.
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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
The hearing notice suggested a focus on a tax framework for digital assets, but did not mention specific witnesses or policies previously proposed.
19837 - News
Based on an evaluation between December 2023 and January 2025, the IRS Criminal Investigation did not always follow guidelines around seizing and holding crypto in cases.
5368 - News
A lower court ruling will stand in a case involving a Coinbase user who filed a lawsuit against the IRS after the crypto exchange turned over transaction data.
8090 - News
The US Internal Revenue Service appointed Trish Turner to lead its digital assets unit after two key crypto leaders departed.
2711 - News
The case stems from the US Internal Revenue Service's attempt to obtain Coinbase users' transaction data in 2016.
2920 - News
The trader sold 62 CryptoPunk NFTs in 2021, earning approximately $7.4 million in profit, followed by the sale of 35 more in 2022 for an additional $4.9 million.
6861 - News
Ohio Representative Mike Carey said the resolution to kill the IRS rule also marks the first time a crypto bill has ever been signed into law.
7501 - News
US President Donald Trump is expected to sign off on a resolution undoing a rule that requires DeFi protocols to report to US tax authorities.
6745 - Explained
The US Senate and House of Representatives have voted for the resolution of the repeal of IRS crypto broker rules, which were facing intense debate.
- Newsletter
House Financial Services Committee Chairman French Hill applauded the overturning of the DeFi broker rule, calling it “a clear example of government overreach” that threatened the country’s crypto development.
4829 - News
According to Elon Musk, DOGE has already identified over $500 billion in fraudulent spending in entitlement programs.
5915 - News
A bipartisan majority in the US House of Representatives voted to repeal the so-called IRS DeFi broker rule.
22076 - News
Spring is almost here, which means it’s time for crypto investors to pay the piper — the IRS. Taxbit’s Miles Fuller tells The Agenda how Trump and DOGE are shaking up regulation.
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Prior to the 16th Amendment, which was ratified in 1913, the United States did not have a permanent income tax levied on citizens.
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