Impact of IRS Final Regulations on Non-Compliant U.S. Traders The new regulations finalized by the IRS and Treasury Department concerning digital asset transactions impose significant changes and consequences for non-compliant U.S. traders. These measures aim to...
Navigating the New IRS Regulations on Digital Asset Reporting: What DeFi Brokers Need to Know
Navigating the New IRS Regulations on Digital Asset Reporting: What DeFi Brokers Need to Know The IRS has introduced finalized regulations requiring brokers facilitating digital asset transactions to file information returns and furnish payee statements. These changes...
US Crypto Tax Landscape: How Trump vs. Harris Could Transform Your Crypto Taxes
US Crypto Tax Landscape: How Trump vs. Harris Could Transform Your Crypto Taxes Introduction As the next U.S. presidential election looms closer, many in the cryptocurrency space are wondering what lies ahead for the regulatory environment, especially regarding...
Crypto Tax Rates 2024: Discover the Most Investor-Friendly Countries and Crucial Trends
Crypto Tax Rates 2024: Discover the Most Investor-Friendly Countries and Crucial Trends Introduction Coincub and Blockpit has released its 2024 Crypto Tax Report, with great insights. Below we have summarised some key highlights from the report. As we step into 2024,...
The 2024 State of Crypto Report: Exciting Breakthroughs and Key Insights Driving the Future of Blockchain
The crypto industry continues to evolve at a rapid pace, and the 2024 State of Crypto Report from a16z provides an in-depth look at the latest trends, challenges, and opportunities shaping the space. From record highs in crypto activity to the growing intersection of...
7 Significant Challenges of Crypto Tax Reporting Data (And Empowering Solutions for Success)
Crypto tax reporting is a crucial part of remaining compliant in an increasingly regulated space, but it can be extremely challenging, especially given the complexity and unreliability of the data involved. For crypto investors and tax professionals alike,...
The Ultimate 10-Year Timeline: How IRS Crypto Tax Enforcement Intensified Over the Years
Introduction The IRS has made it clear: ignoring crypto taxes is no longer an option. Over the years, we have witnessed a surge in enforcement actions, new guidelines, and high-profile court cases as the IRS ramps up its efforts to ensure compliance in the crypto...
Unmasking Shocking Crypto Fraud and Pump-and-Dump Scheme: 18 Charged in Global Operation Exposing $25 Million Scam
In a groundbreaking effort for a cryptocurrency fraud crackdown, 18 individuals and entities have been charged following an international operation led by the Internal Revenue Service Criminal Investigation (IRS-CI), in cooperation with the Federal Bureau of...
Essential Differences Between Universal vs Wallet-Based Cost Tracking for Crypto in the US: Understanding Recent IRS Developments
Cryptocurrency tax reporting is a complex process, and one of the primary challenges is selecting the right cost tracking method. For crypto investors in the US, the IRS has recently updated its guidance on cost basis tracking, which can significantly impact how you...
Ahlgren, the IRS, and Bitcoin: A Shocking Crypto Tax Fraud Case with Potential 3-Year Prison Sentence
In a recent crypto tax fraud case, Frank Richard Ahlgren III, an early Bitcoin investor, pleaded guilty to tax fraud related to cryptocurrency gains. This case highlights the IRS's growing scrutiny of cryptocurrency transactions and serves as a clear warning to those...