IRS

With the recent price rise, many bitcoin traders have incurred capital gains that need to be reported on year-end tax returns. But how?

Following a round of “soft notices” sent last month, the IRS is issuing a round of sterner warnings about accurate cryptocurrency tax filing.

The IRS is sending those who have conducted cryptocurrency transactions reminders to pay the requisite taxes.

U.S. Representative Tom Emmer has reintroduced a bill that could add clarity for taxpayers who hold forked cryptocurrencies.

With the IRS planning to release further cryptocurrency tax guidelines, there are three major things investors need to watch out for.

In an open letter to Representative Tom Emmer, IRS Commissioner Charles Rettig promised to make clarity around cryptocurrencies for taxpayers a priority at his agency.

The new program called CoinRT gives Refundo users the opportunity to take their federal and state income tax refunds in bitcoin.

An American who owns a financial interest (like bitcoin) worth $10,000 or more, or has signing authority over a foreign financial account, doesn't necessarily have to actually pay taxes on them. But they must let the IRS know about them.

There are certain measures investors can take in order to minimize their taxable income by utilizing their capital losses incurred from selling bitcoin this year.

In this 95-page report, multiple sections are dedicated to the issue of cryptocurrency taxation, with the IRPAC specifically recommending “that the IRS issue further guidance on the information reporting and withholding implications of cryptocurrency transactions.”