IRS
New 1099-DA Reporting Creates More Headaches for Taxpayers
You might think new tax reporting rules for exchanges should mean less work for the taxpayer, but it’s the opposite, says CPA Kirk Phillips.
How Will NFTs Be Taxed? Understanding the IRS' New Proposed Guidelines
Tax experts weigh in on how the IRS will decide if NFTs are collectibles.
How To Navigate Crypto Tax Rules
As the IRS considers whether to tax NFTs like other collectibles such as stamps, works of art and fine wine, Shehan Chandrasekera, Head of Tax Strategy at CoinTracker, discusses what investors should know about crypto tax obligations this tax season.
IRS Seeks to Tax NFTs Like Other Collectibles
NFTs will be taxed like the underlying assets until final rules are agreed on how to treat digital proofs of ownership held in retirement accounts
Why Not Donate Dead NFT Wallets?
Inaccessible cryptocurrencies presumably have taxable value, meaning they can be donated to a museum, conceptual artist and lawyer Brian Frye writes.
IRS Seeks Court Approval to Identify Kraken Crypto Customers
The U.S. tax agency is looking to examine Kraken's books and papers.
Say Goodbye to Proprietary Tax Prep Software
Web3 tax help is a multibillion-dollar opportunity, and a way to plug the gap the government has around tax help and out-compete centralized companies like TurboTax.
How Bad Tax Policy Drives DAOs Out of the US
Despite crypto-friendly laws in Wyoming, most DAOs are choosing to incorporate overseas.
TaxBit Exec on FTX Collapse, Crypto Taxes
The Financial Times reports FTX held less than $1 billion in liquid assets against $9 billion in liabilities before its bankruptcy filing. TaxBit Government Relations Senior Director Seth Wilks discusses the collapse of FTX and its financial considerations. Wilks also shares his insights into crypto taxes amid IRS scrutiny of the industry.
The Key to Taxing Digital Assets Is Finding the Right Cubbyhole
The government may write special rules regarding the treatment of the new asset within the cubbyhole, but there will be an existing tax bucket for every new idea, says KPMG's Tony Tuths.
