Category: Taxes

US Library of Congress report highlights proof-of-stake tax blindspot

US Library of Congress report highlights proof-of-stake tax blindspot

The taxman still isn’t wise to cryptocurrency earnings made through proof-of-stake. But that could change soon. 7749 Total views 21 Total shares Republican Rep. Tom Emmer has called for more precise tax guidelines regarding cryptocurrency earnings, after a report he commissioned from the Law Library of Congress showed a stark disparity between regulatory approaches taken […]

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US crypto firms invest in tax solutions as IRS updates reporting forms

US crypto firms invest in tax solutions as IRS updates reporting forms

Coinbase Ventures, PayPal Ventures and Winkelvoss Capital have all invested in cryptocurrency tax automation software provider TaxBit. 3064 Total views 17 Total shares United States regulators are continuing to fine-tune their tax reporting requirements for cryptocurrency users. A second draft of Form 1040 from the Internal Revenue Service for the 2020 tax season published online suggests […]

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Tax justice for crypto users: The immediate and compelling need for an amnesty program

Tax justice for crypto users: The immediate and compelling need for an amnesty program

The United States Internal Revenue Service is blinded by its desire to defeat cryptocurrency. It rushes to enforcement without first thinking how best to get there. It has spent millions of taxpayer dollars training its personnel and procuring private contractors to uncover noncompliance by crypto users. The IRS is arming its people to aggressively enforce […]

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