Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year. Record Loss Claims in Cryptocurrency Tax Filings In a press release by NODE40 – a cryptocurrency accounting firm, the company […]

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CFTC Chairman: Bitcoin Suited for ‘Long-Term Buy and Hold Strategy’

Georgi Georgiev · May 1, 2018 · 11:00 am CFTC Chairman Christophe Giancarlo went on record, saying that Bitcoin, alongside a lot of other cryptocurrencies share elements of different asset classes, regardless of whether it’s a matter of long-term asset or means for payment. Christophe Giancarlo, currently a chairman of the U.S. Commodity Futures Trading […]

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Tax Attorney: Blockchain Immutability ‘Does Make The IRS Smile’ (Interview)

Allen Scott · April 20, 2018 · 4:30 pm Bitcoinist spoke with Alexander Stern, legal attorney and founder of Attorney IO, to unpack the complexities related to Bitcoin and cryptocurrencies taxes, potential loopholes for users, and how the IRS can easily track individuals using Bitcoin compared to fiat currencies.  The fact that a lot of […]

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‘They’ll Never Catch Me’ 52% of People Say About Paying Crypto Taxes

Georgi Georgiev · April 2, 2018 · 1:00 pm A recent poll on Twitter held amongst more than 7,500 people showed the abrogating reaction of the majority when asked about the way they handled their taxes associated with crypto investing and trading. Only a fifth of the participants revealed that their taxes are already filed […]

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IRS Stymied Over American Cryptocurrency Traders’ Reluctance to Report Earnings

Patrick Smith · February 14, 2018 · 9:00 pm As cryptocurrency investors continue to see gains, it appears they’re also continuing to stay quiet about their earnings to avoid taxation from the IRS. Where are the American Crypto Taxpayers? With roughly a month and a half left until the April 17th tax filing deadline, the IRS […]

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Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework

Nikita Blows · January 20, 2018 · 5:00 pm At least two US institutions have requested that the IRS propose a definitive structure for taxing cryptocurrencies in the country. As authorities see the lucrative appeal of virtual currencies, they also see that they can benefit from this wealth in some way, specifically through taxing crypto holders. […]

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