President Joe Biden speaks about his 2024 proposed budget at the Finishing Trades Institute, … [+] Thursday, March 9, 2023, in Philadelphia. (AP Photo/Matt Rourke) Copyright 2023 The Associated ...
Tag: Tax
Are You Rich? Biden Wants to Double Your Capital Gains Taxes and Implement a Wealth Tax
biden new taxes While social issues have dominated news coverage recently, one of the most contentious and important issues in Washington never changes – tax policy. One of former President Dona...
Coinbase warns users their info was passed to UK tax office
Coinbase users in the UK have been informed that their names must be given to tax authority HMRC if they cashed out more than £5,000 in fiat during the 2021 tax year. “We would encourage you to consul...
Australian Tax Regulators Know Your Crypto Investments
Crypto usage has been increasingly on the radar of tax authorities worldwide in recent years. The growing popularity of cryptocurrencies has increased their use for transactions and investments. Tax a...
IRS tax audits ‘target and burden lower-income families,’ say tax experts
The underfunded Internal Revenue Service has been relying on ancient technology to generate paper audits that target tax benefits, such as the Earned Income Tax Credit, for lower-income households. Th...
Oscars ‘Free’ Gifts Draw $46k Tax Bill From IRS + $16k From California
Hollywood, CA/ USA – July 26, 2018: Oscar golden award in a souvenir store on Hollywood Boulevard. … [+] Success and victory concept getty Some say that an Oscars statuette is the most val...
FDR’s Tax Increase Scared Him Off Hiring 87,000 IRS Agents
One of the delicious errors in Thomas Piketty’s Capital in the 21st Century is this assertion: “Roosevelt came to power in 1933 [and] immediately decided on a sharp increase in the top income tax rate...
Biden Administration Seeks to End Crypto Tax Subsidies and Fix the Loophole
The Biden administration seeks to terminate the tax-loss harvesting strategy for crypto investors which would help the White House save $31 billion over a ten year period. On Thursday, March 9, the Bi...
Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30% – Bitcoin News
On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget in...
Coinbase CEO hails reintroduction of crypto tax reform law
Coinbase CEO Brian Armstrong has lauded U.S. lawmakers’ decision to revive a bill seeking to clarify crypto tax reporting. Bill to streamline crypto asset reporting requirements The Keep Innovation in...
Bitcoin hashprice drops as miners face possible 30% energy tax
Ad Bitcoin’s (BTC) hashprice has significantly plummeted in recent weeks, dropping to its early January levels — a potential sign that the mining bull run might be over. Hashprice measures the market ...
Joe Biden’s government proposes 30% crypto mining tax
President Joe Biden has proposed an excise tax on cryptocurrency mining companies that is 30% of the cost of the power they use. Biden’s Fiscal Year 2024 budget included a proposal to implement wash s...
Thai Govt to Grant Tax Waivers to Issuers of Digital Asset Investment Tokens – Taxes Bitcoin News
Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticip...
U.S Treasury To Impose 30% Tax On Crypto Mining Operations
On Thursday, March 9, U.S. President Biden revealed his budget proposal for 2024. Under the Biden Budget, the U.S. Treasury Department is looking to introduce a 30% excise tax on crypto mining operati...
U.S President Proposes 30% Tax on Electricity Used For Crypto Mining
6 seconds ago | 2 mins read Bitcoin News Biden has proposed a 30% tax on all power used to mine cryptocurrencies. The goal of this plan is to decrease mining activities, as stated by the government. U...
Biden’s new budget cuts $31 billion in tax breaks for oil companies
President Biden’s 2024 budget released Thursday includes yet another broadside from the White House against oil companies. The budget proposal — which Republicans have said is going nowhere on Capitol...
Biden’s budget wants tax hikes, but expiring Trump tax cuts are the big showdown
For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels ...
U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms
“The increase in energy consumption attributable to the growth of digital asset mining has negative environmental effects and can have environmental justice implications as well as increase energy pri...
Biden budget proposes 30% tax on crypto mining electricity usage
A phased-in 30% tax on cryptocurrency mining electricity costs has been proposed by United States president Joe Biden in his administration’s 2024 fiscal year budget. A Department of the Treasur...
Biden budget proposal aims to reduce deficit by $74M in 2024 via energy tax on crypto miners
U.S. President Joe Biden’s budget and associated tax proposals could impact cryptocurrency miners, according to the White House’s 2024 budget paper. The budget specifically proposes imposi...
President Biden’s Budget Blueprint Will Propose Changing the Tax Treatment of Cryptocurrency Transactions, Raising $24 Billion
The proposed Biden budget plan would close the current harvesting loophole on crypto tax losses, reducing wash sales trading. According to reports, US President Joe Biden’s new budget plan could close...
Biden’s Budget Proposal Includes Crackdown on Crypto Wash Sales and Doubling of Capital Gains Tax for Certain Investors
President Joe Biden’s upcoming budget proposal includes a few surprises for crypto traders and investors, as it seeks to raise around $24 billion through changes to crypto tax treatment. The pro...
Annual Matching Requirements For New IRA Tax Credits Could Kick-Start Economically Competitive Green Hydrogen Production
Authored by Melany Vargas, Kara McNutt and Chris Seiple Hydrogen can play a critical role in the United States’ journey to net-zero as a low-carbon fuel to support the decarbonization of hard to elect...
President Biden’s 2024 Tax Plan to Target Crypto Wash Trading and Capital Gains
U.S. President Joe Biden released his official 2024 budget plan this Thursday – and cryptocurrency transactions are in its crosshairs. His many proposals include subjecting crypto to the same wash sa...
Biden Unveils $6.8 Trillion Budget With New Tax Revenue—Here’s What To Know
Topline President Joe Biden proposed new taxes on the wealthy in order to lower the federal deficit by $3 trillion over the next five years in his 2024 budget plan unveiled Thursday—but the proposal i...
CoinTracker Partners With H&R Block to Streamline Crypto Tax Filing Process
Partnership Eliminates Complexities of DIY Crypto Tax Filing, Helping Users Remain Tax Compliant SAN FRANCISCO–(BUSINESS WIRE)–CoinTracker, the market leader in cryptocurrency tax and portfolio tracki...
CoinTracker integrates with H&R Block to offer crypto tax preparation
Crypto tax software provider CoinTracker is integrating its software with H&R Block, a company that helps millions of customers prepare their income taxes across Canada, the United States and Aust...
Biden Will Propose A New 25% Minimum ‘Billionaires Tax’ In 2024 Budget, Report Says
Topline President Joe Biden will float a new 25% minimum tax on billionaires in his budget proposal set to be unveiled Thursday, Bloomberg reported, among a series of new taxes on corporations and the...
Biden Wants To Impose New Crypto Tax Rules
The Biden administration is looking to impose new rules on crypto taxation, which will include the wash sale rule and doubling capital gains taxes. New Budget Proposal Doubling Down On Crypto The Pre...
Windfall tax all but wipes out North Sea oil giant’s £2bn profit
KRT18T North Sea, Oil production with platforms. Aerial view. Brent Oil Field. – Martin Langer/Alamy Stock Photo The North Sea’s biggest oil producer has warned it will be forced to cut staff an...