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“# How the IRS tracks down people who don’t report their crypto ” Crypto income taxation is a murky arena at present. It would seem that even the U.S. Internal Revenue Service, or IRS, has a tough time figuring out who owes what, according to Wendy Walker, solution principal at the tax compliance company Sovos. “In…
“# Tax professional explains the most important thing for US crypto holders ” Wendy Walker, solution principal at the tax compliance company Sovos, described reporting as the most important aspect of tax filing that people in the blockchain industry should know about. “Even if you don’t owe income taxes, you still have to report details…
“# Winklevoss’ Gemini exchange to count crypto taxes in real time ” American cryptocurrency exchange Gemini is partnering with tax compliance firm TaxBit to help its customers treport their crypto taxes with TaxBit’s Tax Center Suite solution. Tyler Winklevoss, CEO of Gemini exchange, said that TaxBit’s software will help reduce the “pain point of crypto…
“# Will PayPal’s crypto offer turn into a tax nightmare? ” The news that payments company PayPal will support cryptocurrencies has given the industry a major boost — but there are tax implications that are little understood by crypto noobs. PayPal users will soon be able to use digital assets as a funding source for…
“# Fool’s gold? Peter Schiff’s bank under investigation in tax evasion probe ” This morning, millionaire broker and noted Bitcoin skeptic Peter Schiff awoke to find his bank under renewed scrutiny due to an international criminal investigation. According to reporting from Australian newspaper The Age and The New York Times, the J5 — a joint…
“# Korean blockchain lobby calls for crypto tax plan to be put on ice ” The Korea Blockchain Association has called for the government’s new 20% crypto trading tax plan to be delayed for another two years. According to an Oct. 14 report from News1 Korea, the Korea Blockchain Association, or KBA, is requesting regulators…
“# Spain’s new bill proposal complicates crypto for citizens ” Awaiting parliamentary approval in Spain, a fresh bill draft intends to cut out illegal tax dealings, as first reported by Cointelegraph’s Spanish branch. This could mean smaller business transactions as well as mandatory crypto-asset reporting, even for assets held or transacted internationally. The “Draft Law…
“#The NY Times knows tax avoidance and other commentary” Media watch: The Times Knows Tax Avoidance A New York Times “investigation” described how President Trump found ways to avoid taxes — and the Times “ought to know,” snarks Ira Stoll at The New York Sun, because the Gray Lady and “the Ochs-Sulzberger family that control…
“#De Blasio says city will check if Trump paid ‘fair share’ of taxes” Mayor Bill de Blasio on Monday night said the city will look into whether President Trump has paid the correct amount of city taxes. “Our City Finance Department will get to work right away to determine if, in fact, the President of…
“#A liberal result from Amy Coney Barrett and other commentary” Libertarian: A Liberal Result from ACB The New York Times’ Adam Liptak and others cite Judge Amy Coney Barrett’s opinion in John Doe v. Purdue University as evidence of her “almost uniformly conservative voting record” — absurdly, Jacob Sullum explains at Reason. A female student…