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‘Biggest mistake’ is not using tax loss harvesting: Koinly head of tax

[Apr 18, 2023 1:10 AM] Failing to utilize tax loss harvesting is one of the biggest mistakes people can make on their tax returns, according to the head of tax at Koinly.

Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud

[Apr 16, 2023 1:30 AM] On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more…

New 1099-DA Reporting Creates More Headaches for Taxpayers

[Apr 13, 2023 10:59 AM] You might think that new tax reporting rules for exchanges should mean less work for the taxpayer, but it’s the opposite, says CPA Kirk Phillips.

New tax rules could mean a US exodus for crypto companies

[Apr 10, 2023 5:29 PM] A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes.

How Will NFTs Be Taxed? Understanding the IRS' New Proposed Guidelines

[Mar 31, 2023 1:57 PM] Tax experts weigh in on how the IRS will decide if NFTs are collectibles.

FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense

[Mar 29, 2023 4:00 PM] According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that…

Staking gains shouldn't be taxed until they're sold

[Mar 27, 2023 5:51 PM] We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked.

Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27

[Mar 27, 2023 12:30 PM] Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency.

IRS calls for public feedback on taxing NFTs as collectibles

[Mar 21, 2023 11:00 AM] Those wishing to offer feedback to the IRS on having NFTs treated as collectibles, such as coins or works of art, have until June 19 to submit comments.

IRS Seeks to Tax NFTs Like Other Collectibles

[Mar 21, 2023 8:56 AM] Digital proofs of ownership will be taxed like the underlying assets until rules on how to treat assets in retirement accounts are finalized

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…