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The United States Internal Revenue Service (IRS), the agency responsible for tax collection, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating.The
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Organization for Economic Cooperation and Development (OECD) has introduced a new tax framework specifically designed for crypto. OECD unveiled its Crypto-Asset Reporting Framework (CARF) at the end of a two-day ministerial-level meeting of its council
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Macy’s noted that Nike will return to its stores, starting from October this year. Macy’s Inc (NYSE: M), an American conglomerate holding company that engages in consumer goods, released its first-quarter earnings results on June 01. According to the announcement, Macy’s reported net sales of $4.98 billion during the first three
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MicroStrategy, the largest public holder of bitcoin, has joined the growing list of supporters backing proposed rule changes by the financial accounting standards board (FASB), which seeks to eliminate impairment charges for companies holding cryptocurrencies. As of
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The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes. DAC8 was proposed in December
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Out of it emerges, not the story of a mechanical technology or the precision of math and cryptography, but of humanity itself, of its dreams, its dramas, its successes and, yes, its failures. CoinDesk’s 10 years of coverage uncovers the Shakespearean breadth of the crypto story. Original Source
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It’s unclear how exchanges are going to manage customer basis and data tracking because 1099-DA reporting is currently deferred until final regulations are issued. One thing is clear, though – there will be differences and taxpayers will have extra work to correctly adjust gains and losses on their tax returns.
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Open Exchange (OPNX) has claimed to have experienced a massive surge in trading volume and has joked about its dismally low volume on its opening day.According to an April 10 tweet by OPNX, its day one trading volume on April 4 hit a total of $13.64 but has since apparently
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In the future, HAPI is considering using AI to automate report approval, too, Letsyuk said: “We’re now feeding the reports we get to the [latest AI product by OpenAI] GPT-4 – it looks very raw at this point, but promising. Not trying to catch some hype here, but we believe
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Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of
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