As if the situation was not bad enough for cryptocurrency owners, further pressure on prices looms in the form of the April 15 tax deadline in the United States.
The U.S. Internal Revenue Service has warned taxpayers about incurring penalties should they fail to report their cryptocurrency-related incomes.
Coinbase has also provided a step-by-step guide to calculate cryptocurrency-related taxes with the tool, simplifying the often cumbersome and laborious procedure.
The German Finance Ministry announced cryptocurrency will be treated like legal tender when used as a payment method.
Many investors holding cryptocurrencies have seen massive gains, some becoming overnight millionaires. But now comes the less fun part: paying taxes.
There is a sticky element that needs to be defined in clearer terms, or paying taxes with cryptocurrency could result in having to pay even more taxes.
It’s been nearly a year since Coinbase embarked on a legal journey to stop the U.S. IRS from getting its hands on customer transaction records