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The United States tax deadline has came and went, and thanks to overwhelmingly confusing tax laws, crypto and Bitcoin investors are left scratching their heads, with many outright refusing to report their crypto earnings and losses on their annual tax filing. It’s not U.S. taxpayers who are alone...
It’s no secret that many relatively new investors in the cryptocurrency markets have seen massive monetary losses that have resulted from the persisting bear market that first began in late-2017 when Bitcoin began falling from its highs of nearly $20,000. The realized losses that resulted from this drop,...
Last year, the crypto community pointed fingers at tax payers liquidating assets in order to cover inflated tax bills due to the substantial gains realized during the 2017 Bitcoin bull run as among the chief reasons the bear market had begun. In 2018, however, the inverse happened, and...
With Bitcoin and other cryptocurrencies making huge sums of money for those adept at timing the market, the U.S. Internal Revenue Service (IRS) is keen to make sure it receives its cut of the profits. However, a lawyer from Morgan Lewis & Bockius states that many users do...
Lawmakers from the United States House of Representatives have issued an open letter to the Internal Revenue Service (IRS), requesting additional clarity on tax laws surrounding crypto such as Bitcoin and Ethereum. The open letter was addressed to acting IRS commissioner, the honorable David Kautter on behalf of...
Today, April 17th, is tax day here in the U.S, but a significant number of investors have apparently not reported gains from digital currency trading to the Internal Revenue Service (IRS). TeamBlind and Credit Karma According to a survey from TeamBlind, the anonymous messaging app popular in fintech circles, 46% of...
‘Tax Day’ in the U.S. is today, April 17, and a number of analysts are bullish on Bitcoin as the much-anticipated tax deadline should trigger the next upward momentum. ‘Tax Day’ to Spark New Bullish Momentum For Bitcoin The cryptocurrency market has been hungover ever since Bitcoin entered the...
In just two days, the U.S. tax filing deadline, April 17th, will be here. Despite this, only a very small fraction of Americans have reported their cryptocurrency holdings. In fact, data released from Credit Karma reveals that fewer than 100 people — out of the most recent 250,000...
Coinbase, the largest cryptocurrency exchange in America, has updated its tax tools to help its U.S. customers comply with IRS guidelines for reporting digital asset gains. Coinbase Updates Tax Tools For U.S. Customers While not being legal or tax advice, Coinbase’s post may prove to be very useful...
Coinbase recently reported to investors that it made $1 Billion in revenue through 2017. An independent assessment finds that 43% of that was in December alone. Bitcoin Run Responsible for 43% of 2017 Profit The San Franciso based exchange Coinbase was one of the first interfaces to make Bitcoin...
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