Kraken to Release Crypto Transactions to IRS
Kraken announced, in order to comply with a court order, the exchange will provide information directly to the IRS surrounding certain users and transactions.
IRS Warns Crypto Tax Enforcement Will Rise
The IRS released its 2022 Criminal Investigation Annual Report. In it, the Criminal Investigation division announced the implementation
Updated IRS Guidance on Donated and Worthless Crypto
If you are thinking about making a charitable contribution, or trying to determine the impact of worthless digital assets, the IRS released a new memo
Cryptocurrency Reporting Delayed
The IRS, still dealing with a tax return backlog, announced it would delay the reporting requirements for digital asset brokers. While this doesn’t change
Gambling in the Metaverse
If you have yet to familiarize yourself with the Metaverse, it is a virtual reality world that offers almost everything that can be found in the real world.
Cryptocurrency Reporting Highlighted in 2022 IRS “Dirty Dozen” List
Each year, the IRS outlines the most prevalent tax schemes and scams targeted at taxpayers. Many of the items on the list are niche and will not apply to
IRS Continues Use of "John Doe" Subpoenas
In an earlier post, I discussed the current legal fight of John Harper vs. the IRS. Although there is no conclusion to that case yet, “John Doe” subpoenas are
Jarrett Case Still Provides No Clarity on Taxation of Cryptocurrency Staking
The lawsuit brought on in the Jarrett case was dismissed by the U.S. Court for the Middle District of Tennessee on September 30, 2022. The court sided with the
Clarity Around Cryptocurrency Question on Form 1040
If you own any cryptocurrency, you are probably familiar with the question that now appears on the first page of your individual tax return: