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Internal Revenue Service

IRS updated digital asset tax form ditches wallet address, transaction ID requirements
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14 August, 2024

IRS updated digital asset tax form ditches wallet address, transaction ID requirements

Apart from dropping the submission of wallet addresses and transaction IDs, the IRS will no longer require investment time transactions...
US House passes bill combating terrorist, illicit financing via digital assets
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31 July, 2024

US House passes bill combating terrorist, illicit financing via digital assets

If made law, the Financial Technology Protection Act would establish a working group of key government departments, agencies, and experts...
Roger Ver’s arrest is bad news for some, good news for the rest of us
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3 May, 2024

Roger Ver’s arrest is bad news for some, good news for the rest of us

Roger Ver’s arrest by U.S. authorities on tax evasion charges could signal a turning point in the digital asset sector’s...
IRS bares new digital asset reporting form for US taxpayers
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23 April, 2024

IRS bares new digital asset reporting form for US taxpayers

Under the IRS' latest tax rule, anyone considered a digital asset broker must prepare Form 1099-DA for customers who sell...
IRS warns ‘crypto’ fans to include digital asset income on tax return … or else
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16 April, 2024

IRS warns ‘crypto’ fans to include digital asset income on tax return … or else

Partnering with Chainalysis, the IRS insisted on the need for digital asset sales to be reported on businesses' tax returns,...
IRS taps 2 former digital asset execs to ramp up ‘crypto’ tax expertise
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5 March, 2024

IRS taps 2 former digital asset execs to ramp up ‘crypto’ tax expertise

The IRS has hired Sulolit “Raj” Mukherjee, formerly with Coinbase and Binance.US, where he led tax compliance efforts, and ex-TaxBit...
New IRS reporting requirements for digital assets put on ice—for now
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19 January, 2024

New IRS reporting requirements for digital assets put on ice—for now

New rules mandating firms to report digital asset transactions of over $100K won't take effect for now, with the IRS...
IRS mandates increased personal information for digital asset transactions under new rules
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4 January, 2024

IRS mandates increased personal information for digital asset transactions under new rules

Many brokers are expected to have difficulty complying with the IRS' new tax rules, which took effect on January 1,...
IRS extends feedback deadline for new digital asset tax rules to mid-November
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30 October, 2023

IRS extends feedback deadline for new digital asset tax rules to mid-November

Feedback on the proposed digital asset tax reporting rules has been extended until November 13, according to the IRS, which...
US senators urge IRS, Treasury to implement digital asset tax rules
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13 October, 2023

US senators urge IRS, Treasury to implement digital asset tax rules

A letter from U.S. lawmakers called out the Treasury Department and the IRS for their delay in enforcing digital asset...
South Korea’s Cheongju wants to seize digital currency holdings from tax evaders
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30 August, 2023

South Korea’s Cheongju wants to seize digital currency holdings from tax evaders

Authorities in South Korea aim to recover unpaid taxes by seizing digital currencies from tax evaders in Cheongju via legal...
Treasury’s digital currency tax reporting rules aim to combat tax evasion in US
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29 August, 2023

Treasury’s digital currency tax reporting rules aim to combat tax evasion in US

As the crackdown on tax evasion continues, the U.S. Treasury Department is lobbying for stringent regulations, which would include the...