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Decentralized Finance (DeFi) Grew To $668 Million In 2019, How Will Taxes Be Calculated?

2019’s decentralized finance (DeFi) boom that has led to more than $785 million being locked in crypto assets is giving accountants serious headaches. Antoine Scalie,...

Warning Letters Issued to Crypto Tax Evaders by Danish Tax Authority

Traders must report data regarding the time from 2016 to 2018 on their profits and losses. Tax authorities in the US and UK...

The IRS Wants to Know If You Interacted With Cryptocurrency in Any Way in 2019

A new form has been released by the IRS looking to know whether you’ve acquired, exchanged, or sold a digital currency. Earlier this...

Software Firm CryptoTrader.Tax Releases New Crypto Tax Reporting Product to Help Tax Professionals

On Monday, November 25, 2019, Missouri-based software development firm, CryptoTrader.Tax announced the launch of its new tax professional suite. As per the press release,...

IRS Continues to Pursue Bitcoin Trader, Insisting Its Summons Is Legit to California Federal Court

William Zietzke states that the summons for financial records is too broad. The IRS states that the multiple years of financial details are necessary,...

IRS Says Like-Kind Tax Exemption Does Not Apply to Crypto Transactions, Nor Did It Before 2018

An IRS official has said that taxpayers can’t defer taxes on cryptocurrency exchanges, not even for pre-2018 transactions. Things have been clear up until now:...

The IRS and the Global Tax Enforcement are Analyzing Crypto Tax Evaders and Criminals

The criminal division of the U.S. Internal Revenue System (IRS) recently announced that it was able to identify dozens of people who were using...

IRS Source: Cryptocurrency Holders and Traders to be Audited by US Tax Collection Agency

A trusted source has confirmed that the Internal Revenue Service is going to conduct audits on cryptocurrency activities. The source said that the tax...

EY (Ernst & Young) Releases New OpsChain Public Finance Manager Blockchain Tool

Ernst & Young (EY), one of the Big Four auditing firms, has recently launched a new blockchain-based product, a platform that was designed to...

Bank Of Canada Considers Its Own Digital Currency; An Easy Way To Track Spending Habits

The Bank of Canada is among the regulatory authorities around the world looking to launch their own digital currency. A recent internal report presented...

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