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Internal Revenue Service

IRS court filings pursue SFOX to turn in user details for tax auditing
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13 August, 2022

IRS court filings pursue SFOX to turn in user details for tax auditing

The filings also mention M.Y. Safra Bank, which partnered with SFOX in 2019 to offer its customers cash deposit accounts...
Coin Center sues US Treasury and IRS over unconstitutional digital currency tax reporting rule
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14 June, 2022

Coin Center sues US Treasury and IRS over unconstitutional digital currency tax reporting rule

The tax law amendment requires individuals and businesses that receive $10,000 or more in digital currencies to report the sender's...
US interstate tax consortium J5 lists NFT marketplace red flags
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5 May, 2022

US interstate tax consortium J5 lists NFT marketplace red flags

In its first guidance on NFTs, J5 listed phishing scams, fake token giveaways, and wash trading as some of the...
US Treasury: Digital currency miners, stakers and coders won’t be considered brokers
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17 February, 2022

US Treasury: Digital currency miners, stakers and coders won’t be considered brokers

The U.S. Treasury letter says that coders, stakers, and miners wouldn't have access to information about the sales of securities...
Arizona senator introduces bill exempting digital currencies from property taxes
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7 February, 2022

Arizona senator introduces bill exempting digital currencies from property taxes

Senator Wendy Rogers’ bill also protects the right to run a node on any network and wants to make it...
Digital currency ATMs being used for drugs and human trafficking: GAO
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18 January, 2022

Digital currency ATMs being used for drugs and human trafficking: GAO

U.S. Government Accountability Office said that since digital currency ATMs are not as strictly regulated, they can allow human traffickers...
IRS updates digital currency question in 1040 tax form
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16 December, 2021

IRS updates digital currency question in 1040 tax form

The tax agency posted its 1040 form last year to ask about virtual assets; however, a query led to confusion...
US man pleads guilty to operating $4M unregistered digital currency business linked to criminal activities
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13 December, 2021

US man pleads guilty to operating $4M unregistered digital currency business linked to criminal activities

Brannen Mehaffey processed about $4 million in digital currencies without registering with the U.S. authorities, some of which were tied...
IRS: Digital currencies are top enforcement priority
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4 October, 2021

IRS: Digital currencies are top enforcement priority

An IRS Commissioner has made it clear that companies in the cannabis industry that use digital currencies must pay taxes...
Digital currency tax guidance still a priority for IRS
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15 September, 2021

Digital currency tax guidance still a priority for IRS

The IRS released a joint Priority Guidance Plan for ‘21-‘22 with Treasury and it lists its intention to issue tax...
IRS clarifies digital currency tax form instructions
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5 January, 2021

IRS clarifies digital currency tax form instructions

The IRS has released revised draft instructions that clarify the approach digital currency owners should take when it comes to

Man behind $4M unregistered digital currency business indicted in US
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22 December, 2020

Man behind $4M unregistered digital currency business indicted in US

Brannen Mehaffey processed at least $4 million from January 2018 to March 2020 worth of digital currencies, according to federal...