Cryptocurrency Taxes

UNREGULATED CRYPTO NO LOSS DEDUCTION Unregulated crypto no loss deduction. Cryptocurrency that continues to trade on an exchange, even for a fraction of a penny per unit, isn't worthless for purposes of triggering a deductible loss, the IRS advi... Read More

Tax Professionals ask for tax change. The IRS has asked for public comments so it could grant further guidance on the question of the taxation of cryptocurrency. One of the reasons for this is the need for further revenue, due to the Covid pand... Read More

Virtual currency and your tax returns. When Covid hit and government spending went up, new sources of revenue were looked at by officials in government, to stem the deficit tide, and when the returns on Cryptocurrency went thru the roof, it dre... Read More

Cryptocurrency reporting to the IRS. Due mainly to the Covid pandemic and the need for massive government intervention and spending programs, the U.S. government, Congress and the Biden Administration are looking for additional revenue sources.... Read More

IRS ramping up cryptocurrency taxation. This emphasis comes from the need for additional revenue, due to the large government expenditures related to the Covid pandemic, and as the IRS seeks to increase taxpayers reporting compliance and ramp u... Read More

IRS adding crypto question to returns. In IRS news release that all American taxpayers must answer the question on the tax form about cryptocurrency. The question, which on form 1040 is just below the address area, says, "At any time during 202... Read More

United States moving towards crypto. President Joe Biden is expected to sign a order that will be a beginning of the regulation of the cryptocurrency asset class, and will be used to regulate how the digital currency is traded. It is also being... Read More

IRS digital payment crackdown. With the Covid pandemic still causing economic problems, and the governments of the world needing additional money to combat the pandemic, alternate sources of revenue have been turned to, to fill in the gaps need... Read More

Crypto taxation in United States. Since the Covid pandemic struck, and governments need for additional revenue to fund programs to fight the once in a generation health crisis, governments have been looking at Cryptocurrency with its high flyin... Read More

Taxation of crypto by country. The Brazillian Federal Reserve Service has issued guidelines for investing in cryptocurrencies. According to the guidance, cryptocurrencies are not designed as legal tendar, but rather as a financial asset. Accord... Read More