A recent Twitter survey conducted among more than 7500 people in the US, indicates that 52% of American cryptocurrency investors believe tax does not calculate them. In addition, only one-fifth of the participants indicated that they have already filed returns and paid the taxes. Very strange citizenship, given that in recent times the IRS has… More
American traders are required to pay $25 billion in taxes on capital gains for transactions with digital money, which can lead to “massive” removal of tokens into U.S. dollars by the deadline for filing tax returns in mid-April. To this opinion came well-known investor and analyst Fundstrat Tom Lee. “This mass Exodus of cryptocurrency to… More
On 8 February the state Senate of Arizona passed the tax bill, which soon may enable its inhabitants to pay taxes in cryptocurrency. On 8 February the state Senate of Arizona passed the tax bill, which soon may enable its inhabitants to pay taxes in cryptocurrency. This is the first of three readings required for… More
The largest American cryptocurrency company Coinbase sent about 13,000 of its customers official notification that information about them will be sent to the US internal revenue (IRS). In July 2017, the IRS addressed a demand to Coinbase to convey more information about each of its more than 500,000 users trying to find information on those… More
The government of Israel confirmed Monday that it will treat bitcoin and other cryptocurrencies as a kind of property. This confirms previous allegations that the IRS will treat bitcoin as “property, not currency,” making it taxable as such. The first position of the IRS described in the draft circular issued in January this year. The… More
The government of Israel confirmed Monday that it will treat bitcoin and other cryptocurrencies as a kind of property. This confirms previous allegations that the IRS will treat bitcoin as “property, not currency,” making it taxable as such. The first position of the IRS described in the draft circular issued in January this year. The… More
Local news Agency Yonhap reports that the South Korean government announced Monday, January 22, cryptocurrency exchanges will have to pay 22% corporate tax and 2.2% local income tax. This announcement occurred immediately after the results of the investigation to the six largest Korean banks, the result of which public was the information about the owners… More
Arizona has a new bill which proposes to use bitcoin to pay income taxes. The bill was represented by 4 senators from the Republican party Warren Petersen and David Farnsworth, Travis Grantham and Jeff Winninger. Code bill SB 1091, a short name sounds like “income tax: bitcoin”. While the bill is relevant to the state… More
Bitcoin traders will face new tax liabilities in the United States and Russia, since the authorities seeking to profit from the stock market are beginning to adjust the legislative basis for its own interests. According to Fortune, created this week by the U.S. Congress, the Commission, reforming the tax legislation, in which services will be… More