IRS
IRS Tweaks Crypto Question Language on 2021 Individual Tax Form Draft
In its 2021 draft of the 1040 Individual Income Tax Return form, the U.S. Internal Revenue Service (IRS) has more clearly stated how crypto assets should be taxed than 2020. “The Hash” hosts discuss the possible impact of IRS’ efforts to tackle crypto tax evasion.
IRS Tweaks Crypto Question Language on 2021 1040 Draft Form
The revised question asking taxpayers about crypto assets is much simpler and clearer.
Emmer, Congressional Blockchain Group Ask IRS to Revise Guidance on Charitable Crypto Donations
The lawmakers say the amount of a donation should depend on free market value, not an appraiser’s determination.
IRS Wants $32M in Funding to Enforce Crypto Taxation, Hire Contractors
The Internal Revenue Service has requested $32 million in funding to enforce crypto taxation and wants to hire specialized blockchain analytics contractors. This comes on the heels of a ProPublica report which revealed many of the wealthiest people in the world only paid little in income tax. "The Hash" panel digs into the world of tax and crypto.
IRS Wants $32M in Funding to Enforce Crypto Taxation, Hire Contractors
The IRS has outlined different ways that $32.3 million in additional funding will bolster the agency's crypto tax collection efforts.
Rep. Tom Emmer on Reintroduced Bill to Protect Investors With Forked Crypto Assets
Minnesota Republican Congressman Tom Emmer joins "First Mover" to discuss his bill that would protect crypto investors from reporting gains or losses on forked assets until the IRS provides more clarity on crypto taxes.
Nashville Couple Sues IRS Over Tezos Staking Rewards Tax
The lawsuit could have far-reaching implications for the taxation of staking rewards in the U.S.
How Will a U.S. Treasury Department Proposal Affect Crypto Markets?
In a report released Thursday, the Treasury Department said it plans to require businesses to disclose crypto transactions over $10K to the IRS. CoinDesk's Nik De breaks down the proposal and explains its potential impact on the crypto markets. Plus, an update on the US Digital Dollar project.
US Treasury Calls for Businesses to Report Crypto Transfers of More Than $10K to the IRS
The report highlighted virtual currencies and cash as potential ways to hide income from the government.
US Congressman Reintroduces Bill With Tax Protections for Investors With Forked Crypto Assets
The legislation would outlaw penalizing taxpayers until the IRS clarifies its policies.
