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...
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...
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...
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...
The IRS recently released Revenue Procedure 2024-28, providing crucial updates for crypto traders. This new guidance has significant implications for how digital assets are reported, particularly regarding tax compliance and transparency. In this article, we'll break...
What is Crypto Tax Loss Harvesting? Crypto tax loss harvesting is a tax strategy involving the sale of cryptocurrency assets at a loss to offset gains from other trades or investments. These losses can reduce your taxable income, thereby minimizing the taxes you owe...
Navigating the world of cryptocurrency investments can be complex, especially when understanding tax obligations. In South Africa, the South African Revenue Service (SARS) has been increasingly focused on ensuring crypto traders and investors comply with tax...
Hedera Hashgraph is an advanced distributed ledger technology (DLT) that stands out from traditional blockchain systems by offering a unique consensus algorithm and architecture. Designed to support fast, fair, and secure applications, Hedera Hashgraph aims to...
Cryptocurrency has become increasingly popular as an investment and a medium of exchange. As the use of digital currencies grows, so does the interest of tax authorities in ensuring that these assets are correctly reported and taxed. The Danish Tax Agency...
With just a few months before the tax deadline, understanding crypto taxes in Germany is crucial for anyone involved in buying, selling, or trading cryptocurrencies. Here's a starter’s guide to help you navigate the tax implications:The Bundeszentralamt für Steuern...