A Massachusetts court is supporting a request from the IRS to obtain the records of Circle customers, the Department of Justice said Thursday.
“These transactions are not anonymous,” the IRS' national fraud counsel said. “We see you.”
The IRS has narrowed the breadth of its new crypto reporting question.
Bitcoin's price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.
Instead of the troublesome 1099-K form, Coinbase will send the 1099-MISC to users of its interest-bearing products. Regular traders may not receive any forms at all.
For the second year in a row, the IRS is telling crypto investors they under-reported crypto gains. But it may be a false alarm again.
PayPal opening its network to cryptocurrencies could create a serious tax headache for users.
The U.S. tax agency has clarified who needs to answer "yes" to a question over cryptocurrency activity included in the draft 1040 income tax form.
The Internal Revenue Service plans to make all income tax payers check a box indicating whether they have transacted in crypto over 2020.
The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.
The new tool comes as the IRS is sending more letters to crypto investors.
Less than a year has passed since the IRS first sent taxpayers cryptocurrency "soft letters."
Four U.S. congressmen have asked the IRS to clarify how block rewards from proof-of-stake networks are taxed, to prevent taxpayers from owing more than they should.
President Donald J. Trump invoked the Stafford act in March, authorizing federal agency funding.
The tax collector has agreed to pay Coinbase up to $237,000 over the next two years for its "Analytics" tracing software.