IRS

The United States has just revealed a seizure of over $2 million in Bitcoin said to be meant for financing terrorist organizations over social media. Coinciding with the case, the Justice Department issued a deterrent to those that seek to…

The Internal Revenue Service has invited a number of undisclosed crypto startups to a summit on March 3 to discuss its existing approach to taxing cryptocurrencies as well as enforcement efforts, according to a copy of the invitation…

The best Sundays are for long reads and deep conversations. Earlier this week, the Let's Talk Bitcoin! Show gathered to discuss the US tax treatment of "Virtual Currencies" and how scams find a home wherever opportunity exists, at least…

As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos,…

After five long years, the Internal Revenue Service (IRS) in the U.S. finally decided to release additional guidelines in October 2019 regarding crypto taxes. While the guidelines have brought some measure of relief by clearing up some…

The Internal Revenue Service (IRS) is auditing companies who registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB) involved in the Bitcoin space — it’s called a Title 31 Exam. These exams were…

Zietzke filed a $104,482 capital gain for 2016, with two bitcoin transactions apparently making up the bulk of the funds. However, he realized in 2017 that the transactions did not occur in 2016, and filed an amended return showing a…

The U.S. Internal Revenue Service (IRS) has taken a significant step to provide much-needed clarity for crypto users. On October 9, 2019, the tax authority published an announcement of Revenue Ruling 2019-24, which addresses an array of…

The IRS took to Twitter on August, 26, posting a video about recently mailed CP2000 notices, of special interest to crypto traders. The notice, which seeks to rectify discrepancies made by recipients in tax reporting, is another in a…

The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig…