India’s government could levy taxes on Bitcoin trading despite the lack of legal clarity for the country’s crypto space. India’s finance ministry has called for the enactment of Bitcoin (BTC) tax laws in the country. According to the Times of India, the ministry’s Central Economic Intelligence Bureau, or CEIB, recently submitted a draft document that […]
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Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report. This year was like no other. Now that it has limped to a close and we look at the promise of a better 2021, it is time to think about taxes. Although there were many […]
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A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions. The United States Internal Revenue Service is blinded by its desire to defeat cryptocurrency. It rushes to enforcement without first thinking how best to get there. It has spent millions of taxpayer dollars training its personnel […]
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The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Sunday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much […]
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Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers. The Tax Law Office of David W. Klasing, a boutique California tax firm, has issued a public release warning investors that the United States Internal Revenue Service is getting serious with Coinbase users. The firm’s dual-licensed tax lawyers […]
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The Korea Blockchain Association wants the government to postpone the implementation of its new tax framework until 2023. The Korea Blockchain Association has called for the government’s new 20% crypto trading tax plan to be delayed for another two years. According to an Oct. 14 report from News1 Korea, the Korea Blockchain Association, or KBA, […]
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“The regulatory reality in Israel is not adapted to the existing reality in the field,” the proposed bill states. Four members of the Israeli legislature are recommending that digital currencies be treated more like fiat for tax purposes. According to a report from Israeli news outlet Globes, Knesset members MK Oded Forer, Yevgeny Soba, Yulia […]
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Since the time Ethereum was born, the crypto-tax landscape has dramatically changed, and that is where we are now. As important as Ethereum has become, even eclipsing Bitcoin (BTC) in some circles, it is no wonder that its fifth birthday has prompted comments — some prophetic, others nostalgic. Few, however, will mark the occasion by […]
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Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes. Switzerland’s existing tax law is applicable to developments in the blockchain industry, the Swiss Federal Council said. According to the federal authority, Switzerland does not need to amend its existing tax legislation in regard to blockchain and […]
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All you need to know to prepare for Crypto Tax Season 2020 and correctly inform the IRS about your crypto. There is only one month left until the United States tax season. After being extended due to the COVID-19 pandemic, the official deadline to file tax returns is now July 15. If you think that […]
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