Mostly though, loans can be neutral from a tax viewpoint. How about loans in Bitcoin or other digital currency?
No, Bitcoin isn’t anonymous enough to avoid the IRS. Also, taxes are even more complicated than you might think.
Hard forks of bitcoin are creating new wealth that the U.S. tax agency will want to tax, but it’s still unclear just how to report these new assets.
Be careful out there–US tax law is a lot more complex than you might think, and the IRS is watching Bitcoin.
Back taxes on Bitcoins? IRS is ramping up search, enforcement measures for tax cheats who use digital currency.
Government doesn’t like it, but they have no power over the Bitcoin protocol. They can enact barriers at on-ramps and off-ramps, but can’t control Bitcoin itself.
Do you think cryptocurrencies can and should be taxed?
Cryptocurrency and taxation are two concepts which do not mix all that well. This is especially true in the United States, even though the IRS issued official crypto taxation guidelines not long ago. Many users are always looking for ways to reduce their capital gains tax in one way or another. The upcoming Swapper platform could certainly […]
With the U.S. political field looking ripe for tax reform, the cryptocurrency community could soon get much-needed clarification on IRS guidance.
The IRS believes tax evasion amongst Bitcoin users is rampant, and judging by the numbers, they are probably right.
What risks ICOs pose for authorities and investors?
US citizens could soon pay with Bitcoin up to $600 and not face tax reporting
A new proposed bill in US Congress will provide a relief point for holders of digital currencies, and would create legislation similar to that already in place for use of f…
Not too long ago, the Bitcoin world learned of an ongoing court case involving the IRS and Coinbase. The US government agency sought to pull data from Coinbase users to ensure no one evaded taxes. Since this request was made, there have been a few updates on the matter, though Coinbase has not handed over any information […]
Even with Bitcoin heading into the mainstream, it’s still hard to know who owns it.