Taxes

This is not the first attempt by U.S. states to allow cryptocurrency to be used in tax payments, although it is slightly different and ultimately the most successful so far.

Tax accountants and firms that specialize in cryptocurrency will emerge to capture and service this market. The first movers will be the ones who stand to capture the oversized profits.

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.”

In an open letter to the Internal Revenue Service (IRS), the U.S. House’s Committee on Ways and Means argues that the tax collection body is leaving investors in the lurch with its vague cryptocurrency tax codes.

Capital gains on cryptocurrency transactions are easy to track, one at a time. What about when there are thousands?

In a bid to fight cryptocurrency tax crime, the U.S. has joined with tax authorities from Australia, Canada, the Netherlands and the U.K. to form the Joint Chiefs of Global Tax Enforcement.

Tax day in the United States is tomorrow, but according to the popular tax filing service Credit Karma, few cryptocurrency holders have reported earnings or losses yet.

What’s the solution to cryptocurrency usability issues caused by capital gains taxes? One might be through a change in tax laws.

South Africa has joined a growing list of countries that expect citizens to pay income tax on their cryptocurrency earnings.

The first in a series of weekly news highlights about blockchain technology and cryptocurrency in Russia.