US Edition12 Articles
12 Articles
Do you have Bitcoin? Be aware of the tax consequences
Bitcoin is ubiquitous. It is impossible to open a social media stream or news source without encountering yet another mention of the topic. Many Australians have invested, hoping for a good return. But they may not have considered the tax consequences of their investments. So some might be in for an unexpected surprise. The tax implications of Bitcoin ownership and other cryptocurrencies such as Ethereum largely turns on how seriously an investo…
Bitcoinist
IRS Intensifies Scrutiny Of Crypto With Surge In Warning Letters
As crypto prices see a new rebound with Bitcoin (BTC) leading the pack, US investors are not only anticipating significant returns on BTC and other digital assets but also facing increased scrutiny from the Internal Revenue Service (IRS). Recent reports indicate that the Internal Revenue Service has dispatched a wave of warning letters to crypto investors, raising alarms about the accuracy of the information they provided on their tax returns. …
If the tax exemption for income from the sale of shares in companies over 40 million crowns did not apply to cryptocurrencies, representatives of the government and the opposition would support it. In the discussion program Otázky Václava Moravec (OVM), Finance Minister Zbyněk Stanjura (ODS) agreed with the deputy chairmen of the opposition ANO and SPD, Karel Havlíček and Radim Fiala. Stanjura's proposal to exempt the sale of companies and crypt…
IRS Crypto Letters Surge 758% in 60 Days, CoinLedger Warns of Looming Crackdown
IRS Crypto Letters Soar More than 750% in 60 Days American cryptocurrency investors are receiving IRS warning letters in record volumes. The notices out have surged 758% in the past two months alone, according to CoinLedger. The trend was confirmed by the firm’s CEO, David Kemmerer, in a statement to The Block, with tax experts also reporting the spike. Everyday Investors Left in the Dark CoinLedger tax expert Ben Yoder noted that most of those …
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