TaxBit Raises $130M Series B at $1.33B Valuation

It's the second major funding round for the tax software firm this year.

Business  ·  12 August 2021

The US Senate Goes to War Over Crypto Taxation

With two competing amendments and pressure from the White House and Treasury, crypto taxation is suddenly the crux of the massive infrastructure bill.

Opinion  ·  6 August 2021

IRS Tweaks Crypto Question Language on 2021 1040 Draft Form

The revised question asking taxpayers about crypto assets is much simpler and clearer.

News  ·  22 July 2021

Emmer, Congressional Blockchain Group Ask IRS to Revise Guidance on Charitable Crypto Donations

The lawmakers say the amount of a donation should depend on free market value, not an appraiser’s determination.

Policy & regulation  ·  11 June 2021

IRS Wants $32M in Funding to Enforce Crypto Taxation, Hire Contractors

The IRS has outlined different ways that $32.3 million in additional funding will bolster the agency's crypto tax collection efforts.

News  ·  9 June 2021

Nashville Couple Sues IRS Over Tezos Staking Rewards Tax

The lawsuit could have far-reaching implications for the taxation of staking rewards in the U.S.

Policy & regulation  ·  26 May 2021

US Treasury Calls for Businesses to Report Crypto Transfers of More Than $10K to the IRS

The report highlighted virtual currencies and cash as potential ways to hide income from the government.

News  ·  20 May 2021

US Congressman Reintroduces Bill With Tax Protections for Investors With Forked Crypto Assets

The legislation would outlaw penalizing taxpayers until the IRS clarifies its policies.

Policy & regulation  ·  18 May 2021

DOJ, IRS Investigating Crypto Exchange Binance: Report

The world’s largest crypto exchange by volume is the subject of a U.S. money-laundering investigation, Bloomberg reported Thursday.

Business  ·  13 May 2021

IRS Will Seize Crypto Assets on Failure to Pay US Taxes: Official

Crypto is treated by the IRS as property for U.S. tax purposes and can be seized in the same way, an official said.

Policy & regulation  ·  13 May 2021

IRS Taps TaxBit to Audit Bulk Crypto Transactions

TaxBit will aggregate transaction data and ensure that the right figures were reported by the taxpayer.

News  ·  11 May 2021

How to File Your Crypto Taxes (and Not Get Screwed)

Here are seven things you need to know about cryptocurrency taxes.

Policy & regulation  ·  7 May 2021

IRS Approved to Seek Records of Kraken Users Transacting Over $20K in Crypto

A U.S. federal court authorized the move Wednesday.

News  ·  6 May 2021

Crypto Won’t Be Money Until IRS Accepts It for Taxes, Top Forex Strategist Says

The greenback has something else going for it cryptocurrencies don't: the bond market, notes Marc Chandler.

Markets  ·  6 April 2021

State of Crypto: The IRS Sets Its Sights on Circle

The IRS has issued a John Doe summons to Circle, in a repeat of its collection of Coinbase customer information. What has changed since then?

Policy & regulation  ·  6 April 2021