IRS Updates Form 14457 With Eyes to Crypto
The Internal Revenue Service has upped its game in the virtual currency world with a revision of an important reporting form.…
Cryptocurrency and the Form 1040
Public fascination with cryptocurrency tends to follow dramatic gains and losses in the market. While the latter results in pundits sounding the death knell for Bitcoin and its ilk, the most reliable predictor for the lifespan and legitimacy of crypto lies in the Internal Revenue Service—and some newly minted crypto-holding clients may have questions about the virtual currency checkbox on their tax year 2020 Form 1040.…
John McAfee Indicted for Tax Evasion
Cybersecurity pioneer and crypto promoter John McAfee can now add another title to his job description: defendant.…
IRS Sends Letters to Cryptocurrency Owners
The Internal Revenue Service is attempting to rein in some taxpayers who may have failed to report income and pay tax on virtual currency transactions.…
Is Bitcoin a Viable Currency?
Cryptocurrencies have made some early adopters a lot of money, which—for conscientious taxpayers and tax professionals alike—begs the question: how does IRS handle Bitcoin and other virtual currency?…
