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Results for blockchain articles
How Will the Infrastructure Bill Impact Cryptocurrency?
Author: Edward "Teddy" EynonDate: September 3, 2021
Congress is hoping that tax revenue from cryptocurrency transactions will help fund infrastructure projects across the country. Under a controversial provision in the $1 trillion infrastructure bill approved by the U.S. Senate, cryptocurrency brokers will be subject to new tax-reporting requirements.
As discussed in prior posts, the federal government is steadily increasing its oversight over cryptocurrency as it grows in popularity. The Internal Revenue Service (IRS) has led the charge, seeking to increase tax compliance around cryptocurrency transactions. In 2019, the IRS began sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly.
IRS Asking Congress to Bolster Its Crypto Enforcement Authority
The Internal Revenue Service (IRS) is continuing its cryptocurrency crackdown... The Internal Revenue Service (IRS) is continuing its cryptocurrency crackdown....
IRS Targeting Cryptocurrency Platforms to Obtain Taxpayer Information
The Internal Revenue Service (IRS) continues to ramp up its efforts to identify taxpayers that have failed to properly report...
Do Cryptocurrency Transactions Above $10K Have to Be Reported to IRS?
The U.S. Treasury Department is looking to boost tax compliance on virtual currency by imposing a new reporting requirement on...
New York Relaxing Virtual Currency Rules – What Businesses Need to Know
The New York Department of Financial Services (NYDFS) is overhauling its regulation of virtual currency... The New York Department of...
New Jersey Establishes Blockchain Task Force
September 11, 2019
Has Blockchain Finally Arrived in New Jersey? State Establishes Blockchain Task Force New Jersey Governor Phil Murphy recently signed legislation...
Will Congressional Stamp of Approval Boost Blockchain?
August 1, 2019
The Blockchain Promotion Act, a Bill Aimed at Providing a Legal Framework for Blockchain, is Picking Up Momentum in Congress...
Judge Reverses Course Ruling Blockvest ICO Is a Security
March 7, 2019
Photo courtesy of Deposit Photos A California Federal Judge Recently Ruled that Blockvest ICO Qualifies as a Security A California...
New York AG Report Raises Concerns About Crypto Exchanges
October 15, 2018
The New York Office of the Attorney General Recently Published a Report Issuing Concerns Regarding Crypto Exchanges The New York...
New Study Confirms Cryptocurrency Crackdown
September 18, 2018
A Recent Study Suggests a Cryptocurrency Crackdown As Securities Lawsuits Involving Cryptocurrency or Bitcoin Have Tripled So Far This Year......