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IRS
IRS Makes New Crypto Broker Guidance a ‘Priority’ in 2021-22 Plan
Biden’s Treasury Department is opening another front in its effort to police crypto tax cheats.
Here’s How the US’s Infrastructure Bill Crypto Tax Provision Might Be Implemented
The House of Representatives will vote on the infrastructure bill at the end of the month.
Tax Software Firm TaxBit Value Tops $1B Unicorn Status
TaxBit, a crypto tax software provider for IRS and various institutional clients, raised $130 million in a Series B funding round that valued the startup at $1.33 billion.
IRS Will Reportedly Ignore How Infrastructure Bill Defines ‘Broker’
The U.S. Treasury Department is reportedly preparing to offer an olive branch to crypto developers, miners, and hardware firms spooked by the $1 trillion bipartisan infrastructure bill’s tax reporting requirements. “The Hash” hosts discuss whether the Treasury Department could combat the concerns of the bill that no other government agency has been able to achieve.
TaxBit Raises $130M Series B at $1.33B Valuation
It's the second major funding round for the tax software firm this year.
The US Senate Goes to War Over Crypto Taxation
With two competing amendments and pressure from the White House and Treasury, crypto taxation is suddenly the crux of the massive infrastructure bill.
Bipartisan Infrastructure Deal Could Impose New IRS Reporting Requirements on Crypto Firms
U.S. senators reached an agreement on key parts of a $1.2 trillion bipartisan infrastructure bill which could be approved for formal debate by late Wednesday. According to the Blockchain Association’s Kristin Smith, the bill contains language that would subject much of the crypto industry to new, challenging IRS reporting requirements.
IRS Tweaks Crypto Question Language on 2021 Individual Tax Form Draft
In its 2021 draft of the 1040 Individual Income Tax Return form, the U.S. Internal Revenue Service (IRS) has more clearly stated how crypto assets should be taxed than 2020. “The Hash” hosts discuss the possible impact of IRS’ efforts to tackle crypto tax evasion.
IRS Tweaks Crypto Question Language on 2021 1040 Draft Form
The revised question asking taxpayers about crypto assets is much simpler and clearer.
Emmer, Congressional Blockchain Group Ask IRS to Revise Guidance on Charitable Crypto Donations
The lawmakers say the amount of a donation should depend on free market value, not an appraiser’s determination.
