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Internal Revenue Service

Rounding up the important digital currency stories from the US this week

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31 January, 2023

Rounding up the important digital currency stories from the US this week

Regulating the sector remains on the cards for the United States, as seen in the recent developments in the space,...

Ralph Wallace: ‘We have to innovate with IPv6 now because we must grab for the gusto’

Cathy Resurreccion

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16 January, 2023

Ralph Wallace: ‘We have to innovate with IPv6 now because we must grab for the gusto’

Ralph Wallace shared on the sidelines of the Future Networks World Forum in Montreal how the U.S. task force uses...

IRS delays implementation of reporting $600 threshold to ease taxpayers’ transition

Wahid Pessarlay

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29 December, 2022

IRS delays implementation of reporting $600 threshold to ease taxpayers’ transition

Following an in-depth consultation, the IRS said it is pushing back the implementation of a new reporting threshold to the...

IRS braces for spike in digital asset tax fraud in coming weeks

Wahid Pessarlay

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8 November, 2022

IRS braces for spike in digital asset tax fraud in coming weeks

Jim Lee, head of the IRS criminal investigation department, noted that the cases are in their “hundreds,” with the bulk...

IRS expands digital assets tax category to include NFTs

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31 October, 2022

IRS expands digital assets tax category to include NFTs

The IRS has amended “virtual currency” to “digital assets” in the 2022 tax year draft instructions, expanding the category to...

IRS hunts digital currency tax cheats with M.Y. Safra bank summons

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26 September, 2022

IRS hunts digital currency tax cheats with M.Y. Safra bank summons

The summons, often referred to as a "John Doe" summons, seeks information on customers of SFOX who may not have...

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