IRS

Washington DC Based Crypto Think Tank Sues US Treasury and IRS over 'Illegal' Cryptocurrency Spying
Jun 14, 2022 at 13:20
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Washington DC Based Crypto Think Tank Sues US Treasury and IRS over 'Illegal' Cryptocurrency Spying
A cryptocurrency community has sued both the US Treasury Department and IRS over allegations of financial espionage against its members. The crypto community claims that Section 6050I's reporting requirements violate its rights. According to the group, Section 6050I violates both the First Amendment and the Fifth Amendment to US laws.
The US Internal Revenue Service is to Hunt Down Tax Evaders Who Use NFTs in 2022
Jan 18, 2022 at 11:14
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The US Internal Revenue Service is to Hunt Down Tax Evaders Who Use NFTs in 2022
The growing popularity of the NFT industry has caught the attention of US tax authorities. Officials expect the number of tax evasion cases involving NFTs to increase significantly in 2022.
Governments Get Concerned Amidst Growing Tax Evasion; the USA is at the forefront
May 25, 2021 at 10:29
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Governments Get Concerned Amidst Growing Tax Evasion; the USA is at the forefront
Tax evasion using cryptocurrencies has increased the world over. Crypto asset spruikers tend to give false info about the income and capital gains tax liabilities so that they can cash in on buyer mania. Several countries are now looking for ways of reducing this vice that has cost the economy a lot.
US IRS Seeks Cryptocurrency Tax Assessment Contractor to Produce Clearer Regulatory Framework
May 14, 2020 at 13:31
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US IRS Seeks Cryptocurrency Tax Assessment Contractor to Produce Clearer Regulatory Framework
The United States tax authority, the Internal Revenue Service (IRS), is looking for an outside firm (contractor) to help with crypto asset tax calculations and produce a clear income statement.
US Parliament Holds First Productive Blockchain Hearing
Mar 12, 2020 at 09:11
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US Parliament Holds First Productive Blockchain Hearing
For the first time the US House of Representatives has had a very useful debate on Blockchain technology. During the recent debate lawmakers convened an educative and informative discussion on Blockchain technology without bending towards one side due to political wills.
United States Tax Agency Wants Cryptocurrency Holders to Pay Taxes
Mar 01, 2020 at 10:46
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United States Tax Agency Wants Cryptocurrency Holders to Pay Taxes
US Tax body Internal Revenue Services (IRS) is demanding that American Citizens who hold cryptocurrency deposits in their wallets be taxed. The tax agency sent warning letters to more than 10,000 cryptocurrency holders over failure to pay appropriate taxes or falsifying taxable income.
New IRS Notice Brings Worry to US Bitcoin Traders
Aug 27, 2019 at 11:52
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New IRS Notice Brings Worry to US Bitcoin Traders
The Internal Revenue Service (IRS), the United States (US) authority accountable for collecting taxes and overseeing the Internal Revenue Code, posted a sweet video on its official social media platforms about the recently issued CP2000 notices which are of interest to many blockchain users and Bitcoin traders. This is not an audit though it works the same, however, it looks like the IRS notice could cause worry for BTC and digital asset traders.
Over 10,000 Bitcoin Users Get Warning Letters From IRS
Jul 30, 2019 at 12:03
News
Over 10,000 Bitcoin Users Get Warning Letters From IRS
The US federal government revenue service, the Internal Revenue Service (IRS), has started the exercise of emailing around 10,000 letters to different Bitcoin and cryptoasset holders that have maybe failed to pay or report taxes and income on digital asset transactions. They are trying to warn them to act in accordance with the federal tax laws, The WSJ reports.
South Korea: Shinhan Bank to Employ Blockchain to Eradicate Human Error
Dec 11, 2018 at 15:37
News
South Korea: Shinhan Bank to Employ Blockchain to Eradicate Human Error
Shinhan Bank, the second biggest financial institution in South Korea, is in the middle of launching a blockchain technology-based system developed to lower the rate of human error. This initiative was reported on Monday, December 10, 2018, by The Korean Times.
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