Cryptocurrency Taxes

Countries crypto tax policies. WIth Covid wrecking havoc on the world's economies, governments have been looking for ways to raise more revenue for needed programs addressing the pandemic. Cryptocurrency has taken the spotlight as the aset clas... Read More

Congress might tax crypto currency. With exploding budget deficits and a need to raise revenue due to the need of the government to spend even more to bail the country out of the Covid health crisis, finding alternate paths to additional revenu... Read More

Will congress tax crypto. With the large stimulus proposals passed by both the Trump and Biden administration's, its apparent that the deficit has grown enormously during the Covid health crisis. Even though this is a once in a century event, ... Read More

Confusion in cryptocurrency taxation. Venezuela is hoping that cryptocurrency punishing hyperinflation and the effects of U.S. sanctions that have stifled trade and rendered the Venezuelan currency nearly worthless. Since 2018 the government has e... Read More

More info on virtual currency. In 2019 the IRS issued further guidance with Notice 2019-24 which addressed the ever changing environment that surrounds cryptocurrency. The two issues covered in Notice 2019-24 were: Does a Taxpayer have gross incom... Read More

Virtual currency for goods and services. Whether you are ready or not, our clients are actively operating in the virtual world and that includes the payment for goods and services by Bitcoin or one of the other cryptocurrencies. The IRS has been v... Read More

The red hot digital tax dispute. In the Ron Howard film, A Beautiful Mind, Russell Crowe plays troubled math genius John Nash. In one famous scene, Nash and his male friends are in a bar when in walks a group of women. Nash realizes that if all me... Read More

IRS guidance on virtual currency.  Expanding on guidance issued in 2014 (see notice 2014-21) the IRS has issued additional guidance to assist taxpayers with the reporting requirements for transactions involving virtual currency. The IRS defin... Read More

IRS urged to update crypto tax. This guidance was the topic of a letter sent by a group of U.S. Lawmakers , to the IRS. They have asked for comprehensive guidance for taxpayers earning gains on cryptocurrency investments or transactions.  In an op... Read More