Tag: Tax Week 2023

What it Means for Digital Asset Brokers and Their Customers

What it Means for Digital Asset Brokers and Their Customers

If the proposed effective dates are retained in the final regulations, businesses will not have much time to do this. Most of the information required [...]
Time Is Running Out for Crypto Leaders to Reason With the IRS

Time Is Running Out for Crypto Leaders to Reason With the IRS

Time Is Running Out for Crypto Leaders to Reason With the IRS www.coindesk.com [...]
Congress Gets the Runaround From Regulators, Again

Congress Gets the Runaround From Regulators, Again

Fast forward two years and fears about the broker definition have come true. It’s clear that the Treasury decided to broaden the scope of what it deem [...]
The Global Movement to Promote Crypto Tax Transparency — What You Need to Know

The Global Movement to Promote Crypto Tax Transparency — What You Need to Know

In Europe and the U.S., there are a host of initiatives placing new requirements on participants in digital asset markets to report on transactions an [...]
The IRS and the Rising Cost of Crypto Tax Compliance

The IRS and the Rising Cost of Crypto Tax Compliance

David Kemmerer anticipates the unintended consequences of proposed new regulations on brokers reporting crypto transactions. Expensive “tax experts” a [...]
What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal

What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal

The APA requires a reviewing court to set aside agency action that is “arbitrary, capricious, an abuse of discretion, or otherwise not in accordance w [...]
Crypto Tax Basics: A 101 for Beginners

Crypto Tax Basics: A 101 for Beginners

Everything you need to know, courtesy of Jaimin Desai, CEO & Co-Founder of Reconcile, a tax optimization platform helping investors, business own [...]
The IRS Should Offer a Free Tax Reporting Tool to DeFi Users

The IRS Should Offer a Free Tax Reporting Tool to DeFi Users

Taxpayers already have many crypto-tax vendors to choose from when compiling information for their tax returns, such as Token Tax, Koinly and Zen Ledg [...]
The IRS Should Heed This Warning

The IRS Should Heed This Warning

Further, serious consideration should be given to excluding digital assets outside of the investment context. .  For example, as the IRS itself recogn [...]
The Tax Implications of Sam Bankman-Fried’s Conviction

The Tax Implications of Sam Bankman-Fried’s Conviction

The end of the trial provides some clarity for FTX customers as to how the company’s bankruptcy might affect their taxes. But how the IRS might act in [...]
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