FTX Reaches Settlement With IRS On $24 Billion Tax Bill
Bankrupt cryptocurrency exchange FTX has reached a settlement with the United States Internal Revenue Service (IRS). If the settlement is approved by a judge, FTX would pay the IRS $200…
FTX Settles Massive $24B Claim With IRS, Unlocking Funds For Customer Compensation
According to a recent report by Bloomberg Law, the bankrupt crypto exchange once run by Sam Bankman-Fried, FTX, has reached a settlement with the Internal Revenue Service (IRS) regarding a…
IRS Reveals Preliminary Tax Reporting Form For Digital Assets
The US Internal Revenue Service (IRS) has unveiled the early draft of a tax form for reporting income from cryptocurrency transactions. The newly released Form 1099-DA, tagged as “Digital Asset…
IRS Expects A Surge in Crypto Tax Crimes
The investigations chief of the US Internal Revenue Service (IRS), Guy Ficco, said the agency expects to see a rise in crypto tax evasion cases this year. Guy Ficco, chief…
IRS Appoints Two Private Sector Crypto Experts to Focus on Digital Assets, Including Former Binance.US Executive
The United States Internal Revenue Service (IRS) hired two private-sector cryptocurrency experts to focus on digital assets amid the tax season. One of the newly appointed experts is a former…
IRS Eases Crypto Reporting Burden For Businesses
The Internal Revenue System (IRS) and the US Treasury Department have decided to postpone the crypto reporting requirements temporarily to ease the burden on businesses. IRS Pauses New Crypto Rule…
IRS Postpones Reporting Requirements, Simplifying Taxes
In a development that has been widely embraced by the cryptocurrency industry, the US Treasury Department and the Internal Revenue Service (IRS) have jointly declared a temporary halt to the…
IRS Free To Collect Crypto Gains After This Controversial Tax Law Takes Effect
The controversial tax law that requires U.S. citizens to report crypto transactions of $10,000 or more has taken effect, giving the IRS a major new source of data on crypto…
US Crypto Tax Law: Transactions over $10K Must Be Reported to IRS Within 15 Days
A new crypto tax reporting law took effect on January 1st, 2024. The law requires US citizens to report digital asset transactions worth over $10,000 to the IRS within 15…
FTX And IRS Lock Horns Over $24 Billion Tax Bill, FTT’s Key Support Wavers
In a striking turn of events, the Internal Revenue Service (IRS) in the United States has presented a staggering tax bill of $24 billion against the bankrupt cryptocurrency exchange FTX. …