6 / 8 Relevant items tagged with #Taxes

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Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report

[Jul 26, 2023 1:45 PM] A couple who filed a lawsuit over how staked Tezos tokens were taxed has gone to appellate court after refusing to accept a refund check from the IRS.

Thodex CEO sentenced to Turkish prison for failure to submit tax documents

[Jul 18, 2023 1:37 AM] Faruk Fatih Özer failed to submit the requested documents to the Tax Inspection Board. He denied being Thodex’s official at the time, which prevents him from presenting the requested books.

US Senate Finance Committee asks digital asset community how to tax it in open letter

[Jul 11, 2023 4:00 PM] Community members may want to read up on the intricacies of tax law before they respond, but they have two months to do so.

Bill to exempt foreigners from crypto taxes passes preliminary reading in Israel

[Jul 6, 2023 2:15 AM] The bill would also level up crypto bonuses with employee stock options by reducing the current 50% tax to 25%.

IMF eyes tens of billions in crypto asset taxes, has few suggestions for collecting them

[Jul 5, 2023 2:00 PM] Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it.

Kraken ordered by court to disclose user data to IRS for tax compliance

[Jul 1, 2023 4:10 AM] Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year.

US Judge Orders Kraken to Release Customer Data to IRS in Cryptocurrency Tax Probe

[Jun 30, 2023 10:30 PM] Kraken, the San Francisco-headquartered digital currency exchange, has received a court order from a U.S. judge requiring the release of customer data to the Internal Revenue Service (IRS). The court filing, submitted on Friday, states that the IRS…

Slovakia to Lower Tax on Income From Crypto Holdings

[Jun 30, 2023 4:30 PM] Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians…

Biden Pledges to Eliminate Tax Loopholes for Crypto Traders — Vows to Make US Tax System Fair

[Jun 30, 2023 12:30 PM] U.S. President Joe Biden has promised to make the federal tax system fair by eliminating loopholes for crypto traders and hedge fund managers. He aims to “achieve tax code fairness” by “ensuring that the burden is shared by the wealthy…

Slovakian parliament votes to approve lower crypto taxes

[Jun 29, 2023 4:56 AM] A parliamentary vote held by lawmakers in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale.

Crypto Companies in Japan Get Tax Relief Under Revised Rules

[Jun 26, 2023 2:30 AM] The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the…

How to track and report crypto transactions for tax purposes

[Jun 21, 2023 9:42 AM] Crypto assets are subject to tax and must be tracked and reported to the IRS. This comprehensive tax guide contains everything you need to know.

Nigeria to tax crypto, digital assets 10% on capital gains — Experts react

[Jun 10, 2023 1:54 AM] The legislation aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets.

Intuit introduces proprietary large language models for fintech with GenOS

[Jun 7, 2023 3:00 PM] Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data.

U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

[Jun 7, 2023 2:39 AM] Congressmen Brad Sherman and Stephen Lynch called the crypto industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations.

Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns

[Jun 1, 2023 3:25 PM] The proposal would have allowed Uniswap’s governing body to receive a percentage of the fees that currently go to liquidity providers.

Does the US have a crypto ‘tax loophole’ problem?

[Jun 1, 2023 6:36 AM] The Biden administration wanted to nix a “special tax subsidy for cryptocurrency,” but it wasn’t in the May 28 debt ceiling bill. Another narrow escape?

Deal to avoid US debt default nixes proposed 30% crypto mining tax, says Ohio lawmaker

[May 29, 2023 3:53 PM] According to Representative Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners.

Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology

[May 26, 2023 6:00 AM] This is an opinion editorial by Conor Chepenik, an organizer for the MassAdoption Bitcoin meetup. Source Congressman Brad Sherman's recent tweet attacking Bitcoiners as "tax evaders" is a prime example of how Bitcoin has become a mainstream…

G7 discusses crypto, supports CBDC — Law Decoded, May 15–22

[May 22, 2023 2:30 PM] The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets.

Ron Paul Denounces US Government ‘Deceptions’ on Inflation; Mentions Federal Reserve Involvement

[May 22, 2023 1:30 AM] Ron Paul, a former congressman from Texas and former U.S. presidential candidate, has reflected on how the U.S. government is handling inflation and how it has been deceitful on the issue. Paul believes that if the U.S. government were to really…

Biden won't accept debt deal protecting crypto traders — G7

[May 21, 2023 10:26 AM] U.S. President Joe Biden expressed opposition to a debt ceiling deal that would allegedly benefit crypto traders.

Updated European tax directive requires reporting on all crypto asset transfers

[May 16, 2023 11:12 AM] DAC8 extends tax reporting procedures to crypto transfers in line with the OECD crypto reporting framework and EU AML rules.

Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

[May 14, 2023 2:00 AM] Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border…

Bitcoin takes flight in Liechtenstein: Minister proposes government services paid in crypto

[May 8, 2023 7:03 AM] Prime Minister Daniel Risch of Liechtenstein told local papers that Bitcoin is set to play a growing role in government services payments.

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

[May 5, 2023 5:30 PM] The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy…

El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming

[May 4, 2023 5:30 PM] El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the…

RFK Jr. Raises Crypto Taxes, Regulation as Issues in Opening Days of 2024 Presidential Race

[May 3, 2023 1:33 PM] Robert F. Kennedy Jr., the latest presidential candidate from one of the most famous U.S. political families, is introducing a number of crypto issues in his newly announced campaign to challenge Joe Biden.

Biden Administration Proposes 30% Tax On Energy Used By Bitcoin Miners

[May 3, 2023 10:06 AM] The Digital Asset Mining Energy excise tax would harm businesses and push innovation out of the United States. The President's new budget proposal for Fiscal Year 2024 includes the Digital Asset Mining Energy (DAME) excise tax, which would require…

Tax law researchers propose IRS framework for deducting crypto losses

[Apr 28, 2023 1:15 PM] A recently published study appears to advocate for the isolation of crypto assets from other tax deductions where losses are concerned.