カテゴリー: Bitcoin taxation

IRS to Face Record Number of Loss Claims, Says Crypto Accounting Firm

IRS to Face Record Number of Loss Claims, Says Crypto Accounting FirmNode40, a developer of bitcoin tax-reporting software, expects the U.S. Internal Revenue Service (IRS) to receive a record number of cryptocurrency-related tax return claims this year, as it predicts that many investors will decide to declare their losses. Also Read: G20 Leaders Declare Commitment to Regulate Crypto Assets Pros and Cons of Reporting Cryptocurrency traders […]

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US Representatives ‘Urge’ the IRS to Clarify Cryptocurrency Tax Guidance

US Representatives 'Urge' the IRS to Clarify Cryptocurrency Tax GuidanceOn Wednesday September 19, a committee of US bureaucrats sent an open letter to the Internal Revenue Service (IRS) in regard to the way cryptocurrencies are taxed. The representatives’ letter directed towards IRS commissioner David Kautter wants the taxation office to publish provisional guidelines on how digital currency transactions and investments should be handled when US […]

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US Representatives ‘Urge’ the IRS to Clarify Cryptocurrency Tax Guidance

US Representatives 'Urge' the IRS to Clarify Cryptocurrency Tax GuidanceOn Wednesday September 19, a committee of US bureaucrats sent an open letter to the Internal Revenue Service (IRS) in regard to the way cryptocurrencies are taxed. The representatives’ letter directed towards IRS commissioner David Kautter wants the taxation office to publish provisional guidelines on how digital currency transactions and investments should be handled when US […]

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Israel Tax Authority Hunts for Bitcoin Traders on Social Media

Israel Tax Authority Hunts for Bitcoin Traders on Social MediaVarious local branches of the Israel Tax Authority have sent out letters to those they suspect are trading bitcoin without reporting it. The tax agency demands in those letters that the recipients will divulge all of their involvement in the cryptocurrency market including all past transaction history and current holdings. People are being asked to […]

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These Countries Won’t Tax Your Bitcoins Too Much

These Countries Won’t Tax Your Bitcoins Too MuchA growing number of governments can’t resists the temptation to get their hands on some of the bitcoins their citizens are making. Several states, however, think that leaving some breathing space for crypto users and entrepreneurs is a better idea in the long run. Crypto-friendly tax regimes can still be found around the world. Also […]

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Latvia Recognizes Cryptocurrencies in Order to Tax Them

Latvia Recognizes Cryptocurrencies in Order to Tax ThemTrying to take its share of the profits, the government of Latvia may accept cryptocurrencies as a legal means of exchange. This year’s tax filing campaign is underway and officials don’t have much time. Two parliamentary commissions and the Ministry of Finance have expressed their views on the matter this week. Latvians may very soon […]

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Poles Protest Unfair Taxation of Crypto Incomes and Profits

Poles Protest Unfair Taxation of Crypto Incomes and ProfitsA decision by the Polish government to tax crypto transactions, even those that do not return profit, has provoked discontent among traders in the country. The local crypto community has decided to protest against the official stance of the Finance Ministry with an online petition which is gathering support. Taxes on crypto-related income in Poland […]

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South Africa Puts Onus on Taxpayers to Declare All Cryptocurrency Income

South Africa Puts Onus on Taxpayers to Declare All Cryptocurrency IncomeThe tax authority of South Africa has warned taxpayers in the country against forgetting to report all their cryptocurrency transactions. However, it also presented a framework with a few positive points for those trading cryptocurrencies such as the ability to claim expenses and losses. Also Read: ADS Securities Adds Bitcoin Cash, Litecoin, and Ripple CFDs […]

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Coinbase Launches Cryptocurrency Trading Tax Calculator

Coinbase Launches Cryptocurrency Trading Tax CalculatorHaving recently had to report over 13,000 of its clients to the US Internal Revenue Service (IRS), making it easier to handle tax reporting is a must for Coinbase. The company has launched a tax calculator, but it will not be of much use for many of its clients including those who transacted with GDAX, […]

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Indians Expect Clarity on Bitcoin Taxes within Days

Indians Expect Clarity on Bitcoin Taxes within DaysUnder mounting pressure to make decisions and take steps to clarify cryptocurrency matters, the Indian government may soon shed some light on one of many unclear aspects – taxation. Local media have turned the spotlight on Budget 2018, but lots of titles end with question marks. The new financial frame is to be presented next […]

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