News with the tag "irs crypto"

How does the IRS define a crypto broker? The definition of the term “broker” includes individuals or entities that regularly provide services to carry out digital asset transfers. This definition ensures that only those truly “in a position to know” transaction details are subject to Form 1099-DA re...

The IRS has updated the tax draft form, aimed at simplifying the reporting of crypto transactions for the U.S. taxpayers. The post IRS Updates Draft Form for Reporting Crypto Transactions, Industry Reacts appeared first on TheCoinrise.com .

Noncompliant stablecoin issuers could potentially exit the EU market entirely, with a shift toward euro-backed stablecoins as demand picks up in European markets.

Many cryptocurrency users have not filed their tax returns, fearing that the Internal Revenue Service (IRS) might change regulations after they submit their returns, according to a cryptocurrency tax expert. The expert stated that the IRS has the discretion to apply laws retroactively or retrospecti...

U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government.