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“FTC sues maker of TurboTax to stop ‘bait-and-switch’ ads” The Federal Trade Commission is suing TurboTax maker Intuit, saying its ads for “free” tax filing misled consumers. The consumer protection agency said Tuesday that millions of consumers cannot actually use the free tax-prep software option — two-thirds of tax filers in 2020. They are ineligible,…
” Waiting on the executive order: how users and financial professionals may benefit from it “ United States President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets was widely praised for acknowledging cryptocurrency and blockchain technology’s place in the world and setting the U.S. on a path toward more comprehensive regulation of…
” 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…
” Law Decoded: Crypto taxes and taxes on crypto, March 21–28. “ It was relatively quiet in the digital asset policy department last week, as regulators and lawmakers in most key jurisdictions retreated to their offices to do the necessary homework. In the U.S., federal agencies got on with the various reports that President Joe…
“Biden’s budget proposal would be laughable — if it weren’t so alarming” You might find some laughs in the $5.8 trillion budget President Joe Biden unveiled Monday — if it weren’t so alarming. Team Biden, for example, brags about its “fiscal responsibility,” arguing that a plan to spend a jaw-dropping 32% more than just four…
” Crypto tax rules will reduce US budget deficit by $11B over ten years — White House “ The United States government’s budget for the 2023 fiscal year included roughly $11 billion in revenue over the next decade from modernizing rules around digital assets. According to U.S. President Joe Biden’s FY2023 budget, which was released…
” Is Austin the next US crypto hub? Officials approve blockchain resolutions “ Innovative cities across America are racing to become the next hot spot for cryptocurrency and blockchain adoption. Miami was the first city to adopt its own part of CityCoins last year, allowing it to implement its own cryptocurrency called “MiamiCoin” to be…
” Rio de Janeiro to accept Bitcoin for real estate taxes from 2023 “ The Brazilian city of Rio de Janeiro will officially start accepting Bitcoin (BTC) payments for taxes related to urban real estate within their city limits, a.k.a. Imposto sobre a propriedade predial e territorial urbana (IPTU). As reported by Cointelegraph Brazil, the…
“Joe Biden to propose ‘billionaire’s tax’ on richest Americans: report” The Biden Administration is poised to announce a new tax on the wealthy that could send Elon Musk into orbit. Biden’s “Billionaire Minimum Income Tax” proposal would set a 20 percent tax rate floor on Americans worth more than $100 million — hitting not only…
” Crypto tax policy framework passes India’s parliament despite pushback from lawmakers “ A tax framework on cryptocurrencies introduced by India’s Finance Minister Nirmala Sitharaman will become law in the country after being passed as an amendment to the Finance Bill. On Friday, India’s lower house of parliament, the Lok Sabha, passed the 2022 Finance…