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DISCUSSION: US Crypto Taxes Are a Nightmare. Could These Proposals Help?

Nobody likes taxes but for U.S.-based blockchain users things can be particularly awful. This week we discuss U.S. tax treatment of "virtual currencies" and how scams find a home wherever opportunity exists, at least for a while.

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US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter

Congressmen are again asking the IRS for clarity on its recent cryptocurrency tax guidance.

Rep. Tom Emmer

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US Judge Refuses to Quash IRS Summons for Bitstamp Exchange Records

A federal judge denied a bitcoin user's petition to stop the IRS from gathering data about his cryptocurrency holdings from the Bitstamp exchange.

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Markets

The IRS Will Now Ask if You Own Crypto in the Most Widely Used US Tax Form

The IRS has updated the main form filled out by individual U.S. taxpayers every year to include a question about cryptocurrencies.

Income tax form

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The IRS Just Issued Its First Cryptocurrency Tax Guidance in 5 Years

For the first time since 2014, the IRS is detailing how it will tax cryptocurrency holdings. Here's what you need to know.

IRS_building_Shutterstock

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CipherTrace Scout App Takes Crypto Investigations Mobile

Blockchain forensics firm CipherTrace has developed a mobile tool for flagging bitcoin and ethereum tokens with a criminal past.

hacker

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New IRS Warning Letters Target Crypto Investors Who Misreported Trades

The IRS is sending another round of warning letters to crypto users, this time to taxpayers who it thinks misreported income on exchange transactions.

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IRS Warnings to Bitcoin Traders Offer Clues to Coming Tax Guidance

Though the IRS has yet to publish its promised crypto tax guidance, the warning letters recently sent to 10,000 traders hint at what to expect.

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North Carolina Congressman Reintroduces Crypto Tax Bill

Reintroduced cryptocurrency tax legislation is taking aim at the IRS's current code

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Markets

IRS Says It's Sending Warning Letters to US Cryptocurrency Owners

The IRS has begun contacting U.S. taxpayers, warning them about possible back taxes owed on their crypto holdings.

IRS