While every other sector of the crypto industry has become better with time, taxation continues to be unnecessarily difficult thanks to regulatory ambiguity and outdated technology.
The U.S. Internal Revenue Service (IRS), the agency responsible for collecting federal taxes in the country, is tackling cryptocurrency.
There’s no doubt that the cryptocurrency ecosystem carries with it a lot of implications tied to legal issues, financial issues and even tax issues.
Brazil’s Internal Revenue Service (IRS) now requires those engaged in cryptocurrency transactions to report their activities.
Despite sending out thousands of letters, it’s evident that the Internal Revenue Service needs to update its vague regulations to tackle the evolving cryptocurrency space.
The Internal Revenue Service (IRS) in the U.S. is looking to require tech companies to share crypto-related transactions by users, according to report.
Responding to congressional pressure, the IRS admits it needs to do a lot more to tax cryptocurrencies.
Twenty-one lawmakers has sent a bipartisan letter to the Internal Revenue Service (IRS) requesting guidance on crypto taxes.
Recent filings to the Internal Revenue Service indicate that short term crypto investors are having a harder time than long-term ones.