Internal Revenue Service in U.S. Solicits Public Opinions on Proposed NFT Taxes
The Internal Revenue Service (IRS), an agency under the U.S. Department of the Treasury that handles tax collection, intends to tax non-fungilble tokens (NFTs) as collectibles and is soliciting public opinions on the proposal, according to a government news release on Tuesday. Under the IRS definition, an NFT is “a unique digital identifier that is recorded using distributed ledger technology and may be used to certify authenticity and ownership of an associated right or asset.” (forkast)
The IRS is Taking Action to Uncover Identities of This Crypto Exchange's Customers
According to the Internal Revenue Service (IRS), the American tax authority, Kraken, the giant crypto exchange, failed to provide requested information regarding its US customers who conducted crypto transactions worth $20,000 or more between 2016 and 2020.
IRS Seeks Court Approval to Identify Kraken Crypto Customers
The Internal Revenue Service has filed a court document seeking permission to enforce a summons for information against Kraken and its subsidiaries.
IRS Broadens Tax Requirements for Crypto To Encompass Everyone
The International Revenue Service (IRS) has updated its taxation and reporting requirements and broadened its scope to everyone who “has dealt” with digital assets, according to a Forbes report.
ConsenSys Backs Lawsuit Against IRS Over Taxing Staked Crypto
Crypto software giant ConsenSys will financially support an ongoing lawsuit challenging the IRS’ ability to tax staking rewards, the company announced Tuesday.
IRS Reminds Taxpayers of Crypto Income Reporting Ahead of 2022 Filing
With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of U.S. federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies.
IRS, SEC Added to List of Creditors in Genesis Bankruptcy Filing
The Internal Revenue Service, the Securities and Exchange Commission and the U.S. Attorney’s office for the Southern District of New York were among some of the creditors listed in a court document filed Monday.
Why the IRS Has an Interest in the FTX Bankruptcy Case
Of all the crypto bankruptcies over the past year, the FTX Chapter 11 proceeding is the only one that’s had a Department of Justice attorney assigned to represent the Internal Revenue Service.
IRS Official: Crypto Is Here to Stay and ‘Becoming More Legitimate’
A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it’s becoming more legitimate.” The official added that the U.S. tax authority is looking to partner with crypto companies, noting: “I don’t see how we can operate in this space without it.”
Messari Crypto Theses for 2023: 10 People to Watch
Binance and Coinbase, and their respective founders, will be integral to any industry rebuild. As their fortunes go, so goes crypto in 2023.
