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01-22-2025
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Internal Revenue Service

IRS issues new tax guidance on NFTs: ‘Collectibles’ are taxable
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23 March, 2023

IRS issues new tax guidance on NFTs: ‘Collectibles’ are taxable

Under the proposed guidance, NFTs are covered by the tax law if they have been identified as a "collectible," which...
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’
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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
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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
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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...
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