Spain’s Tax Authority Sending Notices to 66,000 Cryptocurrency Owners

Spain's Tax Authority Sending Notices to 66,000 Cryptocurrency OwnersThe Spanish tax authority has reportedly started sending notices to about 66,000 cryptocurrency owners in the country. This number represents a massive increase from the 14,700 tax letters the agency sent to crypto owners last year. The letters will continue to be sent until the end of June despite the coronavirus crisis Spain is facing. […]

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Tax Expert: IRS Crypto Question ‘Unconstitutional,’ Card Points, Flyer Miles Could Be Virtual Currency

Tax Expert: IRS Crypto Question ‘Unconstitutional,’ Points, Flyer Miles Could Be Virtual CurrencyWhile its well-known that the revised Schedule 1 form for U.S. taxpayers now contains a question about cryptocurrencies, what is lesser discussed are the legal ramifications this may have for filers who answer incorrectly. The vague nature of the yes or no inquiry has one tax expert doubting the constitutionality of the question, urging all […]

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How the IRS Audits Cryptocurrency Tax Returns – Filing Expert Shares Example, Insights on AML Focus

How the IRS Audits Cryptocurrency Tax Returns - Filing Expert Shares Example, Insights on AML FocusTax season is one of the most dreaded times of the year for many, and when the added confusion of filing crypto returns is thrown into to the mix, things can get even stickier. News.Bitcoin.com recently talked with Clinton Donnelly of Donnelly Tax Law, a service that specializes in crypto returns. The U.S. Treasury-licensed Enrolled […]

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Spill Your Sats: H&R Block Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly

Spill Your Sats: H&R Block Tells Crypto Customers to Self-Report on Taxes, Even If ImperfectlyTax season for United States residents is fast approaching, and the IRS wants to know about everyone’s involvement in the crypto space. Thanks to a recently updated income tax form including a question about crypto activity, tax preparation companies like H&R Block are advising filers to be sure to disclose their details. The service maintains […]

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Thomson Reuters Launches Crypto Tax Tool

Thomson Reuters Launches Crypto Tax ToolTax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS. Also Read: Thomson Reuters Eikon to Display Data on […]

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These Tools Will Help You Calculate Your Crypto Taxes

Filing taxes can be tricky and in jurisdictions like the United States is notoriously complicated. But when cryptocurrencies are added to the equation things start to get even harder. Many aspects of the reporting of crypto income and profits are not yet clearly defined. However, a number of tax filing and calculation tools are trying […]

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