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Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%

[Mar 10, 2023 11:30 AM] On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion…

Bitcoin-friendly Cash App integrates TaxBit amid tax-filing season

[Feb 28, 2023 7:30 AM] Bitcoin evangelist Jack Dorsey’s Cash App is making it easier for BTC holders to calculate their taxes with the TaxBit integration.

ConsenSys releases statement of support for continuation of the Jarrett tax case

[Feb 7, 2023 2:00 PM] The court dismissed the Jarretts’ case over the taxation of staking rewards after the IRS issued the refund the couple sought; not good enough, they said.

What crypto hodlers should keep in mind as tax season approaches

[Feb 2, 2023 8:01 AM] Filing crypto taxes can be complex, especially for those exploring the decentralized finance world. Here’s what to keep in mind.

IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

[Jan 28, 2023 4:50 AM] The IRS’s recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking.

Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

[Jan 13, 2023 9:00 AM] Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would…

Man Pleads Guilty to Stealing Bitcoin ‘Seized’ by US Government

[Jan 8, 2023 9:30 PM] An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether, and dogecoin as part of his plea. “Due to the increase…

IRS Official: Crypto Is Here to Stay and ‘Becoming More Legitimate’

[Jan 6, 2023 7:30 PM] A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it’s becoming more legitimate.” The official added that the U.S. tax authority is looking to partner with crypto companies…

US authorities to intensify scrutiny of crypto industry in 2023

[Jan 5, 2023 2:15 PM] The SEC, FASB, and IRS are working to tighten crypto regulations and expand industry oversight.

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

[Dec 25, 2022 4:00 AM] The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S…

The outcome of SBF's prosecution could determine how the IRS treats your FTX losses

[Dec 16, 2022 4:48 PM] Will your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win.

Argentina Signs Automatic Tax Data Sharing Agreement With the United States

[Dec 6, 2022 4:30 AM] The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc…