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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

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

United Kingdom Announces Crypto Taxation Guidance

The United Kingdom has issued the cryptocurrency taxation guidance, adding clauses for businesses that work with crypto on Friday last week. The UK’s tax agency, the HMRC (HM Revenue and Customs) had declared that crypto generally does not consider cryptocurrencies such as bitcoin to be either currency or “stock or marketable securities,” which means that… Read More

Crypto Tax Bill Gets Reintroduced Amid Legislative Crypto Hype

North Carolina Congressman Pushing Crypto Tax Relief Taxes on digital assets need a revamping & one North Carolina Congressman is leading the charge. Representative Ted Budd (R) has reintroduced a bill that would help simplify the tax code on digital assets that the IRS established in 1986. The bill is called “The Virtual Value Tax… Read More

Israeli Banks Not Allowing Crypto Investors to Pay Taxes with Earnings

Israel Banks Stonewalling Bitcoin Investors In a strange story coming out of Israel, banks are preventing Bitcoin holders from being able to pay their taxes. They are doing this out of fear that cryptocurrencies like Bitcoin may have only been used for money laundering & illicit activities… because that’s all Bitcoin is used for ya… Read More

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