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Starting in 2026, the IRS will introduce Form 1099-DA dedicated to reporting crypto and digital assets. Learn who needs to issue this form and more!
For non-cash charitable contributions to a 501(c)(3) organization, taxpayers often need clarification about the rules and regulations surrounding the deductions they can claim on their taxes. One area of confusion is the requirement for a qualified appraisal for cryptocurrency contributions.
In a recent Chief Counsel Advice, the Internal Revenue Service (IRS) addressed the applicability of I.R.C. Section 165 to cryptocurrency that has declined in value. The advice concluded that an individual, who owns cryptocurrency that has substantially declined in value, can deduct the loss under Section 165, since it would be an itemized expense disallowed by the Tax Cuts and Jobs Acts (TCJA).
People often ask: Do Bitcoin and other digital tokens qualify as foreign assets under U.S. law? Answer: Not inherently. Cryptocurrency
Reality TV star Kim Kardashian agreed to pay the SEC $1.26 million for failing to adhere to SEC guidelines. Here’s what you should know!
The SEC strikes again! Binance, the world’s largest crypto exchange, has found itself in hot water after the SEC launched
The Securities and Exchange Commission (SEC) is nearly doubling the number of dedicated positions responsible for protecting cryptocurrency investors. The
SEC to Crypto Industry: No Amnesty for Violations The U.S. Securities Exchange Commission (SEC) recently made it clear that cryptocurrency
The U.S. infrastructure bill would help crypto tax enforcement, requiring all brokers to report info about customer transactions to the IRS.
The IRS is now asking all US taxpayers about their crypto activity. The wrong answer could land you in big trouble.
The “Howey Test” is the framework set by the U.S. Supreme Court to determine whether a transaction qualifies as an
The crypto question on your tax return has been updated once again. This time, the IRS is increasing the scope
A new bipartisan cryptocurrency bill from Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) creates an ambitious regulatory framework for
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