IRS
IRS Includes NFTs in US Tax Language
The U.S. Internal Revenue Service (IRS) released an updated draft for its 2022 instructions for form 1040 filers that swaps the old category for "virtual currency" with broader new language on "digital assets," including an explicit recognition of NFTs. "The Hash" panel discusses the potential repercussions.
IRS Expands Key US Tax Language to Include NFTs
Newly released draft instructions for the 2022 tax year change the language from “virtual currency” to broader “digital assets.”
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders
The John Doe summons will require M.Y. Safra Bank to provide information about SFOX customers who used the bank and may owe taxes on crypto transactions.
IRS Serves ‘John Doe’ Summons to sFOX Looking for Possible Tax Evaders
The Internal Revenue Service (IRS) served a “John Doe” summons on crypto prime dealer sFOX earlier this week, sFOX Head of Operations Christopher Behnke said. The move allows the tax agency to hunt for potential tax evaders who are using company services. Behnke added the company is reviewing the document internally and contemplating next steps.
IRS to Serve Summons to Crypto Dealer SFOX Looking for Possible Tax Evaders
A California court has authorized the agency to serve a "John Doe" summons.
Coinbase Is Reportedly Selling Geolocation Data to US Government
Cryptocurrency exchange Coinbase is reportedly selling geolocation data to U.S. Immigration and Customs Enforcement (ICE), according to Tech Inquiry’s research. Jack Paulson, the nonprofit’s executive director, discusses the key findings of his analysis, plus insights on Coinbase’s other government contracts with the IRS and FBI.
Coin Center Sues Treasury Over ‘Unconstitutional’ Tax Reporting Rule
Crypto think tank Coin Center filed a lawsuit against the U.S. Treasury Department and IRS on Friday, claiming a crypto tax reporting requirement enshrined in last year’s infrastructure law is “unconstitutional.”
Coin Center Sues US Treasury Over 'Unconstitutional' Tax Reporting Rule
The rule was included in last year's infrastructure law that galvanized the industry over a separate broker rule.
ZenLedger Raises $15M to Expand Crypto Tax Products
The funding comes on the heels of ZenLedger’s “best tax season ever.”
How Do You Tax an NFT?
Plans to share bitcoin data with foreign tax authorities may be hard to adapt to transparent, decentralized blockchains – but once in place, new rules are hard to shift.
