Posts in category

Taxes


Users of Credit Karma’s tax preparation software appear to be under-reporting their cryptocurrency holdings, according to data provided by the company. Fewer than 100 of the first 250,000 federal tax returns filed using the service reflected cryptocurrency gains or losses, the company reported. A spokesperson told CoinDesk in a statement that the “reporting of bitcoin …

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Arizona’s cryptocurrency tax payments bill is being reworked, according to one of its sponsors, with the hope of putting it forward for a vote in the coming weeks. In an interview with CoinDesk, Arizona Representative Jeff Weninger detailed the work being done on the measure, which, as previously reported by CoinDesk, would allow residents in …

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A proposal to allow residents in the U.S. state of Georgia to pay their taxes in cryptocurrency has stalled – at least for now. Put forward in February, Senate Bill 464 would, if passed, mandate that the state’s revenue office accept bitcoin and other cryptocurrencies as a form of payment. Yet according to Senator Mike …

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The Internal Revenue Service has reminded U.S. taxpayers to include any cryptocurrency income on their annual tax forms. In a release published Friday, the IRS noted that cryptocurrency transactions are taxable like other forms of property, echoing a release issued in 2014 outlining how cryptocurrencies would be taxed. At the time, the IRS said profits …

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The Internal Revenue Service (IRS) needs to establish guidelines on how Americans can report gains from hard-forked cryptocurrencies, the American Bar Association Section of Taxation said Tuesday. Section Chair Karen Hawkins wrote a letter noting that “several important developments in the cryptocurrency economy have taken place” since the IRS previously issued guidance on the federal …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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The Australian Taxation Office (ATO) has recently issued a warning about a new type of scam claiming fake tax debt on behalf of ATO, and requesting tax payment via Bitcoin (BTC) and other cryptocurrencies in a public release updated on March 14. In the warning, ATO Assistant Commissioner Kath Anderson stated that the new kind …

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US exchange and wallet provider Coinbase released tax reporting tools for users to file to US authorities on March 13. In a blog post, Coinbase announced some users could use its form generation options to calculate tax owed on cryptocurrency gains ahead of this year’s Internal Revenue Service (IRS) reporting deadline of April 17. The …

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South Korea’s ban on initial coin offerings (ICOs) could be eased in the coming months, according to a new report. CoinDesk reported in September that the country’s Financial Services Commission had moved to prohibit the blockchain funding model. Yet a new report from the Korea Times suggests that the ban may be lifted in part, specifically …

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A committee in the Arizona House of Representatives has recommended the passage of a bill allowing state residents to pay their tax bills in bitcoin. Public records show that the House’s Ways and Means Committee advanced the measure on March 7. While the bill won’t be finalized until the full House puts it up to …

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Wyoming state legislature has passed House Bill 70 yesterday, March 6, exempting certain Blockchain tokens from securities regulations and money transmission laws. The bill, which already unanimously passed in its third reading Wyoming’s House of Representative on Feb. 19, passed in the Senate 27-3, also after its third reading yesterday. “Open Blockchain tokens” offered through …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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The Belgian Special Tax Inspectorate (STI) is looking for Belgian individuals who have invested in cryptocurrencies in foreign exchanges, local news outlet De Standaard reported Friday, March 2. After receiving information from Finnish authorities that several Belgian taxpayers had been trading on Finnish crypto exchanges, the STI started looking into the cases of three Belgians …

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The Australian Tax Office will be going after cryptocurrency investors to ensure they are accurately filing their crypto gains on their taxes this year, Business Insider Australia reported Feb. 28. The Australian Tax Office will use data matching and “100-point identification checks” to track down crypto investors, as well as bilateral tax treaties and anti-money …

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Russian officials have considered a number of amendments to the draft law “On Digital Financial Assets” during a meeting of the Ministry of Economic Development of the Russian Federation that took place Feb. 27. The major modifications proposed by the officials include a digital currency assets income tax break and a tenfold increase of the …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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The German Federal Ministry of Finances considers Bitcoin as tax-exempt so long as it is used as a means of payment, Cointelegraph Deutsch reported Thursday, March 1. The German federal authority published its decision to not subject purchases with Bitcoin and other cryptocurrency to taxes on Feb. 27, citing the European Court’s 2015 decision, which …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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US-based cryptocurrency exchange and wallet service Coinbase sent an official notice Friday, Feb. 23 to approximately 13,000 of its customers whose information it is legally required to turn over to the US Internal Revenue Service (IRS). The IRS had initially asked Coinbase in July 2017 to hand over even more detailed information on every one …

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