Are you unsure about how crypto tax works in the US? The reality is that the Internal Revenue Service (IRS) guidelines are evolving, which may incentivize behavior such as “I’ll pay my tax when the IRS finalizes their guidelines”. However, new legislation requires...
The fairly new crypto reporting tax law that has recently come into effect appears to have massive implications for crypto users. But what it means exactly, and who it may affect, is unclear. What is the $10k Crypto Reporting Rule (6050I)? Forming part of the...
Why prioritize this? Every bear market is a tough time for crypto traders. The satisfaction of watching your portfolio’s value grow day by day is all but gone. However, this kind of market presents a unique opportunity to consider the potential benefits of tax loss...
For Americans with money to invest, the crypto industry’s pace of development can be confusing. Whether hype or reality – and, often, it’s a bit of both – the stories we read online and the conversations we hold over the barbeque can leave us unsure of what to think,...
High-quality crypto transaction data covers the complete series of transactions in a given date range. You need all the data to accurately calculate an asset’s correct cost basis – and, ultimately, the profit you made on it.
What is Operation Hidden Treasure? Operation Hidden Treasure was introduced on March 5, 2021, by the IRS Director of the Office of Fraud. You may feel like the IRS is not always on your side, but you cannot argue their creative abilities in naming departments needs a...
Are you unsure about how crypto tax works in the US? The reality is that the Internal Revenue Service (IRS) guidelines are evolving, which may incentivise behaviour such as “I’ll pay my tax when the IRS finalises their guidelines”. However, new legislation from last...
The much-anticipated Digital Asset Executive Order will be signed today, 9 March 2022. The market is feeling the positivity with the first breath of fresh air, with Bitcoin topping the $41K mark. The Order is the first-ever whole-of-government approach and will be...
Staking tax has been a contentious issue. Joshua and Jessica Jarrett, better known as the Tezos validator who took the Internal Revenue Service (IRS) to court, are creating big waves in the crypto industry, setting a possible precedent for how authorities will tax...
Current Situation United States Crypto Regulations have made headlines and created many discussions in recent months. In 2022 we are seeing a clear focus on regulation in the U.S. especially after the breaking news that the Biden administration wants Crypto...