IRS Financial News

18.08 / 20:43

markets IRS Federal Reserve Bitcoin Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K

Bitcoin (BTC) briefly broke above $25,000 on Aug. 15, but the excitement lasted less than an hour and was followed by a 5% retrace in the next five hours. The resistance level proved to be tougher than expected but may have given bulls false hope for the upcoming $335 million weekly options expiry.

11.08 / 13:27

cryptocurrency IRS Tax US IRS Comes After Clients of Another Crypto Exchange

30.06 / 00:05

Government IRS Taxes Broker US govt delays enforcement of crypto broker reporting requirements: Report

The provision in the U.S. infrastructure bill signed into law in November, which will require financial institutions and crypto brokers to report additional information, could reportedly be delayed.

29.05 / 18:11

business SEC IRS Tips to claim tax losses with the US Internal Revenue Service

Crypto volatility is nerve-wracking, and it may not be over yet. The turmoil may make crypto investors and crypto-related businesses less enthusiastic than when prices seemed ever to be climbing. With the market falling off a cliff, there will be big losses to claim on your taxes, right? Not necessarily. As your United States dollars shake out in the digital world, it is worth asking whether there is any lemonade you can make by claiming losses on your taxes.

04.04 / 13:49

cryptocurrency IRS Tax Walking the Crypto Tax Tightrope in US

Co-Authored by Jaideep Singh, CEO of AI-powered, SaaS platform FlyFin, Luke Olson, CPA, and Sridevi Yathirajyam, EA, FlyFin.

16.03 / 17:55

Legal IRS Tezos Tezos Staking Couple Ramps Up Pressure on US IRS with New Legal Brief

A case involving the US Internal Revenue Service (IRS) and its alleged attempt to refund a couple’s tezos (XTZ) crypto staking tax bill could come to a head after one of the duo pushed for a “definitive ruling” that could change the way staking is taxed in the United States.

14.03 / 17:05

Blockchain Investments IRS Taxes Crypto software provides investors with simplified solution for reducing their tax bill

The profits some investors have incurred through cryptocurrency investing have been comparable to winning the lottery. Unfortunately, these earnings are also taxable like the lottery, turning seemingly big wins into major burdens. To alleviate the amount of taxes they will have to pay, investors are encouraged to use several strategies to help them retain more of their earnings.

09.03 / 00:09

Investments IRS Taxes Bitcoin How to navigate cryptocurrency tax implications amidst the CPA shortage

Cryptocurrency is a hot topic worldwide, especially with prices of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies hitting higher thresholds and resulting in another banner year for investors. While the earnings look good on paper, one factor is often left to consider –– that is, crypto taxes.

25.02 / 01:05

Government IRS Bitcoin New crypto tax solution is making accurate calculations quick and easy

Organizing taxes has always proved a difficult process for companies and individuals during the yearly tax season. With crypto, this process becomes even more complicated.

06.02 / 17:17

Blockchain Ethereum IRS Decentralized autonomous organizations: Tax considerations

A decentralized autonomous organizations (DAO) is an organization that is managed by a computer program powered by blockchain and run by a group of individuals who collectively vote to decide on organizational proposals. Typically, each member’s voting power is determined by their percentage interest in the DAO, which is calculated by dividing the digital assets contributed by a member by the total amount of digital assets in the DAO.

03.02 / 23:21

business coinbase IRS Deal Coinbase users can receive US tax refunds in crypto as part of TurboTax deal

Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase.

03.02 / 20:51

Government IRS Taxes lawmakers US lawmakers US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200

A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200.

03.02 / 09:09

regulation Altcoin IRS Tezos NOT Court victory precedent: IRS may not tax staking rewards until sold

A Nashville couple’s lawsuit over taxes they paid on unclaimed and unsold Tezos staking rewards is coming to an end with the Internal Revenue Service (IRS) agreeing to issue them a refund.

27.01 / 12:31

regulation Fraud IRS Tax IRS Says It Is Fighting ‘Mountains’ of Crypto & NFT ‘Fraud’ and Celebrity Shills

The United States tax body, the Internal Revenue Service (IRS), says it believes the crypto and non-fungible token (NFT) space is beset with “fraud” – and has warned that celebrities promoting crypto on social media could face probes.

27.01 / 05:31

Blockchain Fraud IRS Taxes Future IRS special agent: Crypto's the future but there are ‘mountains of fraud’

A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space.

03.01 / 14:59

cryptocurrency IRS Bitcoin How to Shield Your Crypto Gains and Avoid Getting Audited for Your Crypto Trades in US

The article is written by Jaideep Singh, CEO of AI-powered, SaaS platform FlyFin, Luke Olson, CPA, and Sridevi Yathirajyam, EA, FlyFin.

19.11 / 16:03

Crime IRS Tax Warning IRS Warning: The Taxman Cometh – For 'Billions of Dollars' Worth of Crypto

America’s central tax body, the Internal Revenue Service (IRS) has stated that it expects crypto worth billions of dollars could be seized again next year.

16.11 / 00:43

Government Law IRS Broker President Biden signs infrastructure bill into law, mandating broker reporting requirements

After months of scrutiny from both the U.S. Senate and House of Representatives, the infrastructure bill — criticized by many crypto advocates — is now officially the law of the land.

30.10 / 19:21

Government IRS Bitcoin The major tax myths about cryptocurrency debunked

Crypto and taxes may not be a match made in heaven, but taxes seem inevitable, and the United States Internal Revenue Service (IRS) has made it clear it is going after people who don’t report. With IRS summonses to Coinbase, Kraken, Circle and Poloniex, plus other enforcement efforts, the IRS is on the hunt. The IRS sent 10,000 letters in different versions asking for compliance, but all were nudges to encourage taxpayers to be compliant.

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