A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies a
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae.
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 wo
If passed, the plan would raise the capital gains tax rate for “certain high income individuals” to 28.8%, while eliminating the “wash sale” loophole for crypto users.
El Salvador is looking to attract foreign investment by adopting major tax breaks on Bitcoin trading.
Russia is moving to regulate cryptocurrency mining after legitimizing the broader crypto industry in January.
IRS Agent Poses as Bitcoin Trader Called ‘Mr. Coins,’ Biden’s IRS Wants ‘Outflow and Inflow’ Data From Banks
Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According t
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the
What the United States needs is tens of billions of dollars, and the state is going to take it from the American crypto community.
The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for tra