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U.S. IRS Releases Guidance on Crypto Airdrops and Hard Forks

The United States' federal tax service has issued guidelines for tax reporting regarding cryptocurrency airdrops and hard forks.In an announcement on Oct. 9, the U.S. Internal Revenue Service (IRS) announced the issuance of Revenue Ruling 2019-24, which addresses common questions of taxpayers and practitioners regarding crypto hard forks and

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US: IRS is sending additional CP 2000 notice letters to cryptocurrency investors

The U.S. Internal Revenue Service (IRS) has again sent out compliance letters to investors of virtual currencies such as Bitcoin, whose tax return information did not match data reported to the IRS by third parties such as employers and banks.The CP 2000 notice letters will give individual investors detailed information

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US Crypto Holders Only Have a Few Days to Reply to the IRS 6173 Letter

Last month, the United States Internal Revenue Service (IRS) sent approximately 10,000 letters to cryptocurrency holders regarding their crypto holdings. The IRS has begun sending letters to taxpayers with digital currency transactions that potentially failed to report income and pay the resulting tax from digital currency transactions or did

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