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Former IRS Investigator Says Agency Shifting From Education To Enforcement

A former top investigator is warning cryptocurrency users that “a high-stakes game of chicken” between the Internal Revenue Service (IRS) and themselves will result in “civil and, potentially, criminal penalties,” for failing to report crypto hodlings. In an article in Law360 Don Fort a former chief of the Internal Revenue Service’s (IRS) criminal investigation division… Read More

The IRS will Tax all Crypto Earnings According to Recent Memo

A memorandum was published by the Internal Revenue Service (IRS) on August 28 answering an inquiry, clarifying that crypto earnings are taxable by law. The inquirer asked: “Tax consequences for an individual who receives convertible virtual currency for performing microtasks through a crowdsourcing or similar platform.” The IRS defines the act of crowdsourcing as a… Read More

The IRS Goes Hard in the Paint on Crypto Users – Good Luck!

It looks like the US government is paying attention to cryptos! According to recent drafts, the famed IRS 1040 form will ask anyone who is filling it out if they used cryptos – in anyway – during 2020. This change to one of the most commonly used US tax forms isn’t happening in a vacuum…. Read More

Binance US Partners with Sovos to Comply with Crypto Tax

Binance US has announced its partnership with Sovos, a startup company focusing on cryptocurrency accounting and auditing, to modernize tax information reporting by the Binance US platform, benefiting its users on the upcoming tax season. Binance US is constantly expanding its services and providing its users with better benefits. To take advantage of this partnership… Read More

Use Cryptos for Taxes and Support Charity

If you are sitting on some big gains in the form of Bitcoins, or other cryptos, and you have to pay taxes to the US government, you may want to consider donating them directly to a charity. Here is the deal. If you are holding some tokens that you bought at much lower prices, and… Read More

Binance Research Suggests Payment Sector May be Rattled by Facebook’s Libra

According to Binance Research, Facebook’s Libra project could change the face of the payments sector. It found that this new technology after conducting deep dive into the proposed payments platform. Binance Research recently commented on Libra’s most current whitepaper, which is a lengthy report. Part of Binance Research is claiming Facebook’s proposed asset could significantly… Read More

Crypto.com Delivers Great Offers for MCO Cardholders

The ongoing fallout from the COVID-19 pandemic has caused many problems for people in their day-to-day lives. Crypto.com has recognized the need to offer people support in these trying times, and has introduced three great offers for anyone who uses their selection of MCO debit cards, which operate on the Visa network. According to Kris… Read More

New IRS Guidance on Cryptocurrency

The latest guidance from the IRS on cryptocurrency hard forks attempts to clarify long-standing demands from the industry. Today, the Internal Revenue Service released the long awaited tax guidance on hard forks for cryptocurrency assets. The new guidance states that a hard fork is taxable, only if the forked cryptocurrency is received by a holder…. Read More

BitMex CEO DISAPPEARS Into Thin Air | $55k Bitcoin SOON? | Libra Coin May Never Happen

Bitmex CEO Gone Bitmex CEO Arthur Hayes has seemingly disappeared. Well, that may be wording it a little too strongly. He has been missing in action from his Twitter account for over two weeks now in the midst of a CFTC probe into Bitmex. People are starting to wonder if he is keeping a low… Read More

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