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” US govt delays enforcement of crypto broker reporting requirements: Report “ The provision in the U.S. infrastructure bill signed into law in November, which will require financial institutions and crypto brokers to report additional information, could reportedly be delayed. According to a Wednesday report from Bloomberg, the United States Department of the Treasury and…
“Stop siccing the IRS on nannies & other tiny entrepreneurs” Etsy, eBay and smaller retailers are fighting to repeal the new law that forces anyone who gets more than $600 a year in “business” payments via Venmo, PayPal or other third-party payment services to report each transaction to the IRS. As we’ve noted, that got…
” Tips to claim tax losses with the US Internal Revenue Service “ Crypto volatility is nerve-wracking, and it may not be over yet. The turmoil may make crypto investors and crypto-related businesses less enthusiastic than when prices seemed ever to be climbing. With the market falling off a cliff, there will be big losses…
“Elon Musk got a huge tax break selling $8.5B in Tesla shares: report” Elon Musk pocketed $8.5 billion in cash when he sold off 9.6 million shares of his electric car maker, Tesla, last week in order to help finance his $44 billion takeover of Twitter. But the fact that Tesla shares were worth less…
“A tradition of sexualizing kids and other commentary” Eye on Disney: A Tradition of Sexualizing Kids “Disney’s recent commitment to ‘add queerness’ wherever possible can’t be explained as just trying to teach tolerance and inclusivity,” notes pseudonymous former Disney TV writer Stella Paul at the American Thinker. The company has long warned writers that “whatever…
“IRS answering only 20% of taxpayer phone calls” Internal Revenue Service agents are answering just a fraction of all incoming customer service calls as the embattled agency struggles with a record volume of inquiries and a massive backlog of tax returns, IRS Commissioner Chuck Rettig acknowledged during a Senate hearing this week. The commissioner detailed…
” Crypto donation startup launches IRS form as US tax season loom “ Engiven, an enterprise cryptocurrency donation platform, is working to simplify tax reporting for cryptocurrency donors and nonprofits by launching a tax form and appraisal service for crypto donations. The Engiven platform now allows nonprofits and donors to automatically generate the Internal Revenue…
” How to navigate cryptocurrency tax implications amidst the CPA shortage “ Cryptocurrency is a hot topic worldwide, especially with prices of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies hitting higher thresholds and resulting in another banner year for investors. While the earnings look good on paper, one factor is often left to consider ––…
“# Blockchain forensics is the trusted informant in crypto crime scene investigation ” The seizure by the U.S. Department of Justice of $3.6 billion worth of Bitcoin (BTC) lost during the 2016 hack of Bitfinex’s cryptocurrency exchange has all the ingredients of a Hollywood film — eye-popping sums, colorful protagonists and crypto cloak-and-dagger — so…
“# Seizure of Bitfinex funds is a reminder that crypto is no good for money launderers ” As public understanding of how digital assets work becomes more nuanced along with the mainstreaming of crypto, the language of Bitcoin’s (BTC) “anonymity” gradually becomes a thing of the past. High-profile law enforcement operations such as the one…