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.
The Latest tax News
South Korea police want to know: Who leaked digital currency tax bill?
Authorities are looking into the source of a leak that exposed South Korea government’s digital currency taxation plan.
Digital currency to be ‘taxable property’ in Russia
The latest amendments mean it will no longer be an offence punishable by prison to facilitate digital currency trades in Russia.
South Korea proposal for 20% digital currency gains tax gains traction
The proposal will be voted on September 3, 2020, and is expected to take effect on October 1, 2021—if passed.
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.
Switzerland won’t amend tax laws for blockchain
Blockchain and digital currencies are “fully compatible” with existing legal frameworks, according to the Swiss Department of Finance.
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.
South Korea minister confirms digital currency tax plans
Finance Minister Hong Nam-Ki told a parliamentary finance committee the government will introduce a taxation regime for digital currency.
Japan finance minister voices opposition to lowering digital currency tax
Taro Aso said he would be unwilling to push for taxes on digital currency-related income to be reduced to 20%.
Digital currency taxation confuses US taxman
IRS is recruiting digital currency tax professionals to help them audit tax returns on digital currency earnings.
Puerto Rico changes gears on digital currency haven status
The US-owned territory has a new law on the books that will make considerable changes to digital currency tax incentives.
Aussie taxman makes it clear – report digital currency or be audited
350,000 Australian taxpayers have been served notices that they face audits over their digital currency activity.