Hip, hip hooray for regulation in the Cryptocurrency market, the guessing work and reliance on 3rd party software is finally gone. The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will gen...Click here for more
Archive for the ‘Cryptocurrency’ Category.
Virtual currency: IRS issues additional guidance on tax treatment and reminds taxpayers of reporting obligations
The IRS is aware that some taxpayers with virtual currency transactions may have failed to report income and pay the resulting tax or did not report their transactions properly. Therefore for the first time since 2014 the IRS has released two new pieces of guidance for taxpayers who enga...Click here for more