Of Course, The IRS is Updating Its Bitcoin Tax Guidelines as Price is Rising –

With Bitcoin spiking more than 120 percent since the start of 2019, the U.S. Internal Revenue Service (IRS) says it is readying an updated set of guidelines to cover cryptocurrency taxation. IRS Preparing Additional Crypto Tax Guidelines In a letter to a bipartisan group of U.S. Congressmen, the IRS Commissioner Charles Rettig declared that clear-cut […]

Continue Reading

Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year. Record Loss Claims in Cryptocurrency Tax Filings In a press release by NODE40 – a cryptocurrency accounting firm, the company […]

Continue Reading

Crypto Investors Could Inadvertently Commit ‘Potential Felony,’ Tax Expert Says

Georgi Georgiev · April 10, 2018 · 6:00 am As tax day rapidly approaches, there’s no lack of uncertainty amongst tax professionals regarding cryptocurrency investors purchasing digital assets through foreign exchanges. Regardless of the government’s seemingly straightforward legislative position, ambiguity continues to riddle the field when in-depth analysis is made. What Does the Law Say? […]

Continue Reading