Cryptocurrency Analysis and News Portal
With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies.Until 2021, the IRS used the term “virtual currencies” in
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North American mining and hosting firm Compass Mining is offering a new tax avoidance method for savvy crypto miners that file in the United States. In a Thursday announcement, Compass Mining said it had partnered with IRA provider Choice by Kingdom Trust to help Bitcoin users mine directly to their IRAs “without
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PayPal’s decision last week to embrace crypto may help with mainstream adoption, but it could also mean additional tax work for users unfamiliar with the crypto landscape.Over the next few weeks PayPal will be rolling out buy, sell and hold features for cryptocurrencies on its platform to U.S. users, but
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The United States Internal Revenue Service (IRS) is reportedly soliciting third-party contractors to assist with calculations of cryptocurrency users’ transactions. Crypto tax software firm CryptoTrader.Tax publicly shared details of a letter it claims to have received from the IRS on May 12, together with an accompanying Statement of Work. The latter has
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United States-based accounting firm H&R Block has begun serving as an intermediary between crypto users and the Internal Revenue Service (IRS) after the agency began sending letters to crypto traders who may have failed to report income and pay taxes.According to a Sept. 24 news release, H&R Block has
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