IRS sends new batch of ‘crypto letters’ to taxpayers
There are three types of letters, each indicative of the degree to which the IRS thinks individuals are underreporting digital currency transactions.
Latest Internal Revenue Service News
Lawmakers urge ‘proactive policy’ for taxing digital currency staking rewards
In a letter to the IRS, the lawmakers explain how taxing staking rewards as income could lead to excessive tax burdens.
IRS now focusing on privacy coins, Lightning Network, and side chains
IRS’s new Initiative should not come as a shock to investors paying close attention to legal developments or those who properly understand Bitcoin’s design and intention.
US taxman signs on to use Coinbase Analytics
The IRS signed a one-year US$124,950 contract with Coinbase that gives them access to Coinbase Analytics.
The CoinGeek Pulse: Episode 4
This week in digital currency and blockchain, we see the winds of greater regulation start to blow across the sector.
Coinbase former customer sues IRS for records seizure
Researcher Jim Harper received a letter stating the IRS “had reason to believe” he had not paid full tax on his digital currency dealings.
WikiLeaks accepts criminal coins and tokens
Wikileaks.shop, which sells merchandise to financially support WikiLeaks, accepts BTC, BCH, DASH, ETH, LTC, XMR, and ZEC as payment.
IRS targets privacy coins, Lightning Network and Schnorr signatures
The federal agency is seeking more information about so-called "privacy coins" and other technologies that obfuscate digital asset transactions.
Ernst & Young tax tool targets traders filing digital currency forms
CryptoPrep collects information on a user’s trades made on and off major exchanges and compiles it into a downloadable 8949 tax form.
Coinbase users pull out over $200M in digital currency over privacy concerns
Coinbase users removed over $200 million worth of BTC after reports surfaced that the platform offered its analytics to federal authorities.
Coinbase dangles analytics tool in bid to align with US feds
Coinbase has offered to license out its analytics platform to the U.S. Internal Revenue Service and the Drug Enforcement Administration.
Digital currency taxation confuses US taxman
IRS is recruiting digital currency tax professionals to help them audit tax returns on digital currency earnings.