Read on this virtual currencies tax guide to find out some of the things you must know concerning crypto taxation in 2020.
The US IRS has started to send out crypto tax warnings notices (14 August 2020) to US taxpayers looking for a declaration for their investments.
For your 2020 income tax returns, the IRS is asking whether filers sold or acquired a financial interest in any cryptocurrency.
The IRS is seeking third-party contractors to help it assess whether certain U.S. taxpayers have properly paid taxes on their crypto holdings.
The IRS’ guidelines on crypto tax reporting remain unclear, and may not be binding, per the analysis of the Government Accountability Office (GAO).
A bill seeking to exempt personal crypto transactions taxes for capital gains has been reintroduced in the Congress of the United States.
Danish tax authority has been sending letters to crypto users it suspects of tax avoidance, demanding information about their trading activities.
US federal judge has allowed the IRS to collect data about customers’ assets from Bitstamp crypto exchange. Nevertheless, the agency was also ordered to reduce the number of requests.
The United States tax office IRS has issued cryptocurrency tax refunds to many cryptocurrency users who have declared their cryptographic holdings.
Upcoming new IRS crypto guidance is expected to address longstanding questions about the tax treatment of cryptocurrency.