IRS Commissioner Charles Rettig, testifying before Congress in April 2021, estimated the gap between taxes owed and taxes collected in the United States to be close to $1 trillion....more
3/4/2022
/ Bitcoin ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Financial Transactions ,
Income Taxes ,
IRS ,
Proposed Legislation ,
Regulatory Agenda ,
Reporting Requirements ,
Tax Liability ,
Tax Reform ,
Virtual Currency
In this first of (we hope) many posts on the interesting and myriad tax issues arising in the world of cryptocurrency and blockchain technology, we focus on the very basic U.S. federal income tax consequences of...more
2/9/2018
/ 1099s ,
Bitcoin ,
Blockchain ,
Capital Assets ,
Capital Gains ,
Compensation ,
Cryptocurrency ,
Employment Tax ,
Fair Market Value ,
FBAR ,
FICA Taxes ,
Financial Crimes ,
FinCEN ,
Income Taxes ,
Initial Coin Offering (ICOs) ,
IRS ,
Personal Property ,
Popular ,
Stocks
In this first of (we hope) many posts on the interesting and myriad tax issues arising in the world of cryptocurrency and blockchain technology, we focus on the very basic U.S. federal income tax consequences of...more
12/7/2017
/ 1099s ,
Bitcoin ,
Cryptocurrency ,
Digital Assets ,
FATCA ,
FBAR ,
FICA Taxes ,
FinCEN ,
Foreign Currency ,
Income Taxes ,
Initial Coin Offering (ICOs) ,
IRS ,
Popular ,
Reporting Requirements ,
Section 1031 Exchange ,
Virtual Currency ,
W-2