Thursday, January 23, 2020
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US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter

The U.S. taxman's most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday.According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (r-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio),

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Brazil’s IRS Sets Rules to Fine Citizens Who Don’t Declare Crypto Holdings

The Internal Revenue Service (IRS) in Brazil has established a specified code to categorize punishment for taxpaying citizens who fail to declare their cryptocurrency operations and holdings. This can be seen as Brazil’s major attempt to take a stronger control over the Bitcoin(BTC)trade and other digital currencies trade and exchange

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IRS Wants to Investigate Crypto ATMs and Kiosks for Tax Evasion

An official from the U.S. Internet Revenue Service (IRS) has stated that the agency is going to investigate crypto-based ATMs and kiosks for potential criminal activities that include tax evasion and money laundering.Cryptocurrency ATMs and kiosks are increasingly gaining popularity among digital currency users in the United States as many

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IRS: Reinvested Crypto Holdings Are Not Exempted from Taxation

According to an official from the United States Internal Revenue Service (IRS), ‘like-kind’ tax exemption has not been applied for taxpayers with crypto transaction records.This holds true for transactions even before 2018. After changes were introduced to the 2017 taxation structure, taxpayers were prohibited from utilizing the tax exemption scheme

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